UK Markets close in 6 hrs 32 mins
  • FTSE 100

    7,035.30
    -43.12 (-0.61%)
     
  • FTSE 250

    22,942.29
    -108.17 (-0.47%)
     
  • AIM

    1,243.03
    -4.24 (-0.34%)
     
  • GBP/EUR

    1.1740
    +0.0003 (+0.02%)
     
  • GBP/USD

    1.3975
    +0.0017 (+0.1244%)
     
  • BTC-GBP

    27,716.74
    -964.91 (-3.36%)
     
  • CMC Crypto 200

    922.35
    -8.01 (-0.86%)
     
  • S&P 500

    4,419.15
    +18.51 (+0.42%)
     
  • DOW

    35,084.53
    +153.60 (+0.44%)
     
  • CRUDE OIL

    73.39
    -0.23 (-0.31%)
     
  • GOLD FUTURES

    1,833.10
    -2.70 (-0.15%)
     
  • NIKKEI 225

    27,283.59
    -498.83 (-1.80%)
     
  • HANG SENG

    25,961.03
    -354.29 (-1.35%)
     
  • DAX

    15,511.65
    -128.82 (-0.82%)
     
  • CAC 40

    6,632.73
    -1.04 (-0.02%)
     

ProVen Growth and Income VCT plc: Interim Management Statement

·3-min read

ProVen Growth & Income VCT plc

Interim Management Statement

for the three months ended 31 May 2021

ProVen Growth & Income VCT plc (the “Company”) presents an Interim Management Statement for the three month period ended 31 May 2021. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance





Unaudited

31 May

2021

Audited

28 February

2021

Pence

Pence

Net Asset Value per share (“NAV”)

63.3

61.5

Dividends paid since class launch (originally as ‘C’ Shares)*

67.65

67.65

Total Return (NAV plus dividends paid since ‘C’ Share class launch)

130.95

129.15

* Dividends paid represents dividends paid in respect of the Original 'C' Shares between their launch in 2006 up until their conversion in 2009 and as Ordinary Shares since the 'C' Share conversion. 'C' Shares were converted into Ordinary Shares on a one for one basis in 2009.

Dividends paid or declared

On 7 June 2021, the Company announced a final dividend for the year ended 28 February 2021 of 1.5p per share. Having received approval at the Annual General Meeting of the Company on 14 July 2021, the dividend will be paid on 30 July 2021 to Shareholders on the register at 9 July 2021.

Investment portfolio summary at 31 May 2021

Portfolio summary

Valuation

Venture capital investments

£’000

Zoovu Limited (t/a Smart Assistant)

9,603

Blis Media Limited

8,684

ContactEngine Limited

6,872

Sannpa Limited (t/a Fnatic)

6,661

Mycs GmbH

5,996

Infinity Reliance Limited (t/a My 1st Years)

4,841

Written Byte Ltd (t/a DeepCrawl)

4,338

Luxury Promise Limited

3,948

Thread, Inc.

3,912

Been There Done That Global Limited

3,689

Other investments

48,735

107,279

Cash at bank

53,526

Other net current liabilities

(149)

Net Assets

160,656

Quoted investments are valued at the closing bid price at 31 May 2021, 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 2021

Investment additions

£’000

Utilis SAR Ltd

2,144

Moonshot CVE Holdings Ltd

1,112

Hygenica Limited

276

3,532


Investment disposals









Cost

Market

value at 1 March 2021



Disposal

proceeds

(Loss)/gain

against

cost

Realised

(loss)/gain

in period

£’000

£’000

£’000

£’000

£’000

Response Tap Limited*

1,440

1,446

1,252

(188)

(194)

MPB Group Limited

295

604

815

520

211

Chargemaster plc**

-

-

4

4

4

1,735

2,050

2,071

336

21

*Disposal proceeds include amounts accrued in addition to cash proceeds already received in the period.

** Disposal proceeds represent contingent proceeds.


Investment activity from 1 June 2021 to the date of this announcement

£’000

Zoovu Limited (t/a Smart Assistant)

641

641

Investment disposals









Cost

Market

value at 1 June 2021



Disposal

proceeds

Gain

against

cost

Realised

loss

in period

£’000

£’000

£’000

£’000

£’000

ContactEngine Limited

2,455

6,872

6,758

4,303

(114)

2,455

6,872

6,758

4,303

(114)

Changes to share capital

Ordinary

Shares

of 1.6187p each

As at 1 March 2021

222,333,613

Shares bought back during the 3 months to 31 May 2021

(274,661)

Shares issued during the 3 months to 31 May 2021

31,760,207

As at 31 May 2021

253,819,159

In the period from 1 June 2021 to the date of this announcement, 752,213 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 2021 to 31 May 2021 or in the period from 1 June 2021 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


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting