Proven VCT plc : Interim Management Statement

ProVen VCT plc

Interim Management Statement

for the three months ended 31 May 2016

ProVen VCT plc (the "Company") presents an Interim Management Statement for the three month period ended 31 May 2016. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

	Unaudited 31 May 2016	Audited 29 February 2016
	Pence	Pence
Net Asset Value per share ("NAV")	103.1	100.7
Dividends paid to date*	20.0	20.0
NAV plus dividends paid to date	123.1	120.7

*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this date, the Company paid dividends totalling 113.95p on the 5p Ordinary Shares.

Dividends paid or declared

On 1 June 2016, the Company announced a final dividend for the year ended 29 February 2016 of 4.0p per share. Having received approval at the Annual General Meeting of the Company on 5 July 2016, the dividend will be paid on 15 July 2016 to shareholders on the register at 17 June 2016.

Investment portfolio summary at 31 May 2016

Portfolio summary

	Valuation
Venture capital investments	£'000
Watchfinder.co.uk Limited	5,880
Monmouth Holdings Limited	3,917
Pulpitum Limited	3,888
MyOptique Group Limited	3,723
Litchfield Media Limited	3,497
Monica Vinader Limited	3,468
Cogora Group Limited	3,253
Perfect Channel Limited	3,009
Think Limited	2,738
MEL Topco Limited (t/a Maplin Electronics)	2,621
Other investments	27,713
	63,707
Cash at bank	40,594
Total	104,301

Quoted investments are valued at the closing bid price at 31 May 2016, 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 2016

	£'000
Thread Inc.	880
InContext Solutions, Inc.	400
Big Data Partnership Limited	186
Other investments	2
	1,468

Investment disposals

	Cost	Market value at 1 March 2016	Disposal proceeds	Gain against cost	Realised gain in period
	£'000	£'000	£'000	£'000	£'000
Speciality European Pharma Limited	2,052	2,052	2,052	-	-
Celoxica Limited	65	65	65	-	-
Linkdex Limited	45	45	45	-	-
Peerius Limited	33	33	33	-	-
	2,195	2,195	2,195	-	-

Investment activity from 1 June 2016 to the date of this announcement

Investment additions

	£'000
Poq Studio Limited	1,125
	1,125

Investment disposals

	Cost	Market Value at 1 March 2016	Disposal proceeds	Gain against cost	Realised  gain in period
	£'000	£'000	£'000	£'000	£'000
Celoxica Limited	44	44	44	-	-
Linkdex Limited	48	48	48	-	-
Conversity Limited	85	-	85	-	85
	177	92	177	-	85

Changes to share capital	Ordinary Shares of 10p each
As at 1 March 2016	65,473,795
Shares bought back during the 3 months to 31 May 2016	-
Shares issued during the 3 months to 31 May 2016	32,867,383
As at 31 May 2016	98,341,178

In the period from 1 June 2016 to the date of this announcement, 98,793 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 2016 to 31 May 2016 or in the period from 1 June 2016 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 [phone].

Beringea LLP

Company Secretary

Telephone [phone]

-End

---

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

HUG#2028291