Proven VCT plc : Result of GM

PROVEN VCT PLC
Result of General Meeting
22 March 2013

The Board is pleased to announce that at the general meeting of the Company held on 21 March 2013, the resolutions proposed in connection with the Enhanced Buyback Facility and other matters, as set out in the Company's circular to shareholders dated 15 February 2013, were duly passed on a show of hands as follows:

• Resolution 1 to: (i) authorise the directors to purchase shares in the capital of the Company, (ii) authorise the directors to allot and issue new shares in the capital of the Company and (iii) disapply pre-emption rights in respect of the allotment of such new shares, in each case pursuant to the Company's enhanced buyback facility - 98.56% of proxy votes received were in favour (or at the chairman's discretion);
• Resolution 2 to cancel share premium and capital redemption reserves - 99.40% of proxy votes received were in favour (or at the chairman's discretion);

Following the passing of the resolutions at the general meeting, the Board is also pleased to confirm that the terms of the Enhanced Buyback Facility may now be fully implemented.

Copies of the resolutions passed at the above meeting will shortly be available for inspection on the Company's website (http://www.provenvcts.co.uk) as well as at the National Storage Mechanism (www.morningstar.co.uk/uk/NSM).

For further information please contact:
Shane Elliott, Beringea LLP, 020 7845 7820
Kate Justham, Beringea LLP, 020 7845 7820

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Source: Proven VCT plc via Thomson Reuters ONE

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