Proven VCT plc : Interim Management Statement

ProVen VCT plc
Interim Management Statement
for the three months ended 31 May 2015

ProVen VCT plc (the "Company") presents an Interim Management Statement for the three month period ended 31 May 2015. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

	Unaudited 31 May 2015	Audited 28 Feb 2015
	Pence	Pence
Net Asset Value per share ("NAV")	102.6	100.9
Dividends paid to date*	15.0	15.0
NAV plus dividends paid to date	117.6	115.9

*Dividends paid represent dividends paid since the consolidation of the original Ordinary Shares of 5p into Ordinary Shares of 10p in October 2012.

Dividends paid or declared
On 18 June 2015, the Company announced a final dividend for the year ended 28 February 2015 of 2.5p per share. Having received approval at the Annual General Meeting of the Company on 22 July 2015, the dividend will be paid on 31 July 2015 to shareholders on the register at 3 July 2015.

Investment portfolio summary at 31 May 2015

Portfolio summary

	Valuation
Venture capital investments	£'000
Monica Vinader Limited	5,927
Watchfinder.co.uk Limited	2,629
MEL TopCo Limited (t/a Maplin)	2,496
Chargemaster plc	2,421
Speciality European Pharma Limited	2,307
Think Limited	2,305
Cogora Group Limited	2,257
SPC International Limited	2,215
Cognolink Limited	2,149
Pulpitum Limited	1,958
Other investments	21,228
	47,892
Cash at bank	20,451
Total	68,343

Quoted investments are valued at the closing bid price at 31 May 2015, discounted where appropriate. Unquoted investments are valued at fair values established using the International Private Equity and Venture Capital Valuation Guidelines.

Investment activity during the three month period ended 31 May 2015
Investment additions

	£'000
D30 Holdings Limited	797
InContext Solutions Inc	675
Sealskinz Holdings Limited	570
Big Data Partnership Limited	318
Disposable Cubicle Curtains Limited	212
Chess Technologies Limited	172
Senselogix Limited	48
	2,792

Investment disposals

	Cost	Market value at 1 March 2015	Disposal proceeds	Gain/(loss) against cost	Realised gain in period
	£'000	£'000	£'000	£'000	£'000
SPC International Limited	82	82	82	-	-
Celoxica Limited	61	61	61	-	-
Speciality European Pharma Limited	55	55	55	-	-
Saffron Digital Limited*	-	50	50	50	-
Peerius Limited	48	48	48	-	-
Eagle-I Music Limited	13	13	13	-	-
Long Eaton Healthcare Limited	-	5	8	8	3
	259	314	317	58	3

*Investment previously realised but further proceeds received

Investment activity from 1 June 2015 to the date of this announcement

Investment additions

	£'000
Big Data Partnership Limited	191

Investment disposals

	Cost	Market Value at 1 March 2015	Disposal proceeds	Gain against cost	Realised  gain in period
	£'000	£'000	£'000	£'000	£'000
SPC International Limited	571	571	571	-	-
MEL TopCo Limited (t/a Maplin)	279	279	279	-	-
Speciality European Pharma Limited	55	55	55	-	-
Celoxica Limited	41	41	41	-	-
Peerius Limited	33	33	33	-	-
	979	979	979	-	-

Changes to share capital

	Ordinary Shares of 10p each
As at 1 March 2015	62,491,992
Shares issued during the 3 months to 31 May 2015	3,425,418
Shares bought back during the 3 months to 31 May 2015	-
As at 31 May 2015	65,917,410

In the period from 1 June 2015 to the date of this announcement, 468,749 Ordinary Shares were repurchased and subsequently cancelled.

Material events
Other than the matters described above, there were no material events during the period from 1 March 2015 to 31 May 2015 or in the period from 1 June 2015 to the date of this announcement.

Further information
Further information regarding the Company, can be found on Beringea's dedicated VCT website: www.provenvcts.co.uk or by contacting Beringea, the Investment Manager, at [e-mail] or by telephone on 020 7845 7820.

Beringea LLP
Company Secretary
Telephone [phone]

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Proven VCT plc via Globenewswire

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