Proven VCT plc : Offers for Subscription

ProVen VCT plc
8 December 2011
Offers for Subscription

ProVen VCT plc announces that it has published a Prospectus (comprising a Securities Note, Registration Document and Summary) to raise up to £15 million (the "Offers") by way of an issue of further New Ordinary Shares.

The Offers opened on 8 December and are expected to close no later than 5 April 2012 in the case of the 2011/12 Offer and 31 May 2012 in the case of the 2012/13 Offer (unless previously extended).  

To obtain a copy of the Securities Note, private investors and financial advisers should call the investment manager, Beringea LLP, on 0845 686 0225. A downloadable version of the Securities Note will also be available on www.provenvcts.co.uk.

The Company has also published a Circular seeking shareholder approval for Proposals relating to (i) a Tender Offer for the Company to purchase up to 5,478,568 of its Ordinary Shares at  net asset value, (ii) the adoption of a dividend reinvestment scheme, (iii) the variation to the  performance incentive arrangements of the Company's investment manager and (iv) the commission payable to the Company's investment manager pursuant to the Offers and giving notice for a General Meeting to be held on 26 January 2012.

A copy of the Prospectus (comprising a Securities Note, Registration Document and Summary) and Circular are available, free of charge, from the Company's registered office:

39 Earlham Street
London
WC2H 9LT

In accordance with the  Listing Rules and Disclosure and Transparency Rules, the Prospectus and Circular will be submitted to the National Storage Mechanism and will shortly be available for inspection at: www.hemscott.com/nsm.do

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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Proven VCT plc via Thomson Reuters ONE

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