Proven VCT plc Proven Vct Plc : Interim Management Statement
July 13 2016 - 10:43AM
UK Regulatory
TIDMPVN
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 Audited
31 May 29 February
2016 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 GBP'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
GBP'000
Thread Inc. 880
InContext Solutions, Inc. 400
Big Data Partnership Limited 186
Other investments 2
1,468
Investment disposals
Gain Realised
Market Disposal against gain
Cost value at 1 March 2016 proceeds cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'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
GBP'000
Poq Studio Limited 1,125
1,125
Investment disposals
Gain Realised
Market Disposal against gain in
Cost Value at 1 March 2016 proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Celoxica
Limited 44 44 44 - -
Linkdex
Limited 48 48 48 - -
Conversity
Limited 85 - 85 - 85
177 92 177 - 85
Ordinary
Shares
Changes to share capital 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 provenvcts@beringea.co.uk or by telephone 020
7845 7820.
Beringea LLP
Company Secretary
Telephone 020 7845 7820
-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
(END) Dow Jones Newswires
July 13, 2016 11:43 ET (15:43 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Proven Vct (LSE:PVN)
Historical Stock Chart
From Apr 2024 to May 2024
Proven Vct (LSE:PVN)
Historical Stock Chart
From May 2023 to May 2024