ProVen VCT plc: Close of Offer to Further Applications

ProVen VCT plc

Close of Offer to further applications

22 February 2021

The Board of ProVen VCT plc (the "Company") is pleased to announce that the offer for subscription to raise up to £20 million (with an over allotment facility of up to a further £10 million) which opened on 3 December 2020 (the "Offer") has received applications for approximately £20 million and has now closed to further applications. The Company reserves the right to re-open the Offer for applications and utilise the over-allotment facility at any time up to 19 November 2021, or an earlier date if fully subscribed before then.

Investors whose applications for shares in ProVen VCT plc were not accepted before the Offer closed are reminded that amounts in respect of the Offer will be re-allocated to the Proven Growth & Income VCT plc Offer, unless applicants have requested in their application form that such amounts be returned to them.

Allotments in respect of valid applications received prior to the Offer closing and not previously allotted are expected to take place shortly (and, if required, on any additional date prior to 5 April 2021 on which the Directors decide) for applications in respect of the current tax year, and on or around 6 April 2021 (and any other dates after the 6 April 2021 which the Directors decide) for applications in respect of the 2021/2022 tax year. Dealings in such shares is expected to commence within 10 business days following allotment.

For further information please contact:

Shane Elliott on 020 7845 7820

Beringea LLP
Company Secretary
Telephone 020 7845 7820