Proven Growth & Inc. Proven Growth & Income Vct Plc : Offer Update
December 04 2017 - 10:30AM
UK Regulatory
TIDMPGOO
ProVen Growth and Income VCT plc
Offer Update
4 December 2017
On 20 October 2017, ProVen Growth and Income VCT plc (the "Company")
published an offer document (the "Offer Document") to raise up to GBP4.4
million, approximately the Sterling equivalent of EUR5 million, through
an offer for subscription (the "Offer") of new ordinary shares ("New
Ordinary Shares"). The Offer will close at 1pm on 20 December 2017 or as
soon as the Offer is fully subscribed or such earlier time as the
Directors in their absolute discretion may decide.
As at 21 November 2017, valid applications for subscription totalling,
in aggregate, GBP2.9 million had been received and allotted in respect
of the Offer.
On 22 November 2017, following the Autumn Budget Statement, Her
Majesty's Government introduced a number of changes to the rules
governing Venture Capital Trusts. Further details of these changes were
set out in the first draft of the Finance (No. 2) Bill 2018 (the
"Finance Bill") published on 1 December 2017.
As of the date of this announcement, the Board does not believe that
these rule changes will materially affect either the purpose for which
funds are being raised under the Offer or the Company's investment
policy and strategy.
Therefore, the Board confirms that the Offer remains open and the
Company expects to make a final allotment of New Ordinary Shares on 20
December 2017 unless the Offer is fully subscribed before then in which
case the final allotment may be made at an earlier date.
Beringea LLP
Company Secretary
Telephone 020 7845 7820
- End
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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 Growth & Income VCT plc via Globenewswire
(END) Dow Jones Newswires
December 04, 2017 11:30 ET (16:30 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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