PGOO Proven Growth & Income Vct Plc

 
TIDMPGOO 
 

ProVen Growth and Income VCT plc

Interim Management Statement

for the nine months ended 30 November 2023

ProVen Growth and Income VCT plc (the "Company") presents an Interim Management Statement for the nine-month period ended 30 November 2023. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

 
                                                         Unaudited    Unaudited   Unaudited    Audited 
                                                         30 November   31 August    31 May    28 February 
                                                            2023         2023        2023        2023 
                                                           Pence        Pence       Pence       Pence 
Net Asset Value per share ("NAV")                               54.0        51.4       53.0          54.2 
Dividends paid to date since class launch (originally 
 as 'C' Shares)*                                                77.2        77.2       75.4          75.4 
NAV plus dividends paid to date                                131.2       128.6      128.4         129.6 
 

* 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 November 2023, the Company announced an interim dividend for the year ended 28 February 2024 of 1.25p per share. This dividend was paid on 15 December 2023 to shareholders on the register at 17 November 2023. The payment of this dividend will reduce the NAV shown above of 54.0p at 30 November 2023 to 52.75p per share.

Investment portfolio summary at 30 November 2023

 
                                                 Cost    Valuation 
                                                GBP'000   GBP'000 
---------------------------------------------  --------  --------- 
Luxury Promise Limited                            6,020      9,646 
Picasso Labs, Inc. (t/a CreativeX)                4,546      8,884 
Sannpa Limited (t/a Fnatic)                       6,718      6,774 
MPB Group Limited                                 1,194      5,396 
Social Value Portal Ltd                           2,542      4,896 
Gorillini NV (t/a Gorilla)                        1,949      4,787 
Utilis Israel Ltd (t/a Asterra)                   2,144      4,769 
Papier Ltd                                        4,703      4,703 
Infinity Reliance Limited (t/a My 1st Years)      2,769      4,701 
DeepCrawl Holding Company, Inc. (t/a Lumar)       4,033      4,029 
Been There Done That Global Limited               3,149      3,942 
Dash Brands Ltd                                   3,282      3,920 
Second Nature Healthy Habits Ltd                  3,842      3,842 
WS HoldCo, PBC. (t/a WiredScore)                  3,494      3,426 
Lupa Foods Limited                                  646      3,114 
Arctic Shores Limited                             2,909      2,928 
Dealroom.co B.V.                                  2,012      2,815 
Litchfield Media Limited                          1,420      2,622 
Litta App Limited                                 2,053      2,464 
Yardlink Ltd                                      2,319      2,319 
Other venture capital investments                51,731     26,541 
---------------------------------------------  --------  --------- 
Total venture capital investments               113,475    116,518 
---------------------------------------------  --------  --------- 
Cash at bank and in hand                                    46,654 
---------------------------------------------  --------  --------- 
Other net current assets                                       845 
---------------------------------------------  --------  --------- 
Net assets                                                 164,017 
---------------------------------------------  --------  --------- 
 

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 30 November 2023

Investment additions

 
                                                          GBP'000 
MOTH Drinks Ltd                                                66 
                                                               66 
                                                          ======= 
 
There has been no investment activity in the period 
 from 1 December 2023 to the date of this announcement. 
 
 
                                                                Ordinary 
                                                                 Shares 
Changes to share capital                                     of 1.6187p each 
As at 1 September 2023                                           306,263,244 
    Shares bought back during the 3 months to 30 November 
     2023                                                        (2,654,971) 
    Shares issued during the 3 months to 30 November 2023                  - 
As at 30 November 2023                                           303,608,273 
                                                            ================ 
 

In the period from 1 December 2023 to the date of this announcement, 1,145,081 Ordinary Shares were issued under the Company's Dividend Reinvestment Scheme ("DRIS") in relation to the dividend paid on 15 December 2023.

Material events

Other than the matters described above, there were no material events during the period from 1 September 2023 to 30 November 2023 or in the period from 1 December 2023 to the date of this announcement.

Further information

Further information regarding the Company can be found on Beringea's dedicated VCT website: www.proveninvestments.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

(END) Dow Jones Newswires

December 22, 2023 04:30 ET (09:30 GMT)

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