ProVen Growth and Income VCT plc
Interim Management Statement
for the nine months ended 30 November 2025
ProVen Growth and Income VCT plc (the “Company”) presents an Interim Management Statement for the nine-month period ended 30 November 2025. 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 Nov
31 Aug
31 May
28 Feb
2025
2025
2025
2025
Pence
Pence
Pence
Pence
Net Asset Value per share (“NAV”)
49.0
49.2
50.2
50.2
Dividends paid to date (originally as "C" Shares)*
82.65
82.65
81.15
81.15
Total Return (NAV plus dividends paid since "C" Shares class launch)
131.65
131.85
131.35
131.35
* 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 12 November 2025, the Company announced a Interim dividend for the year ended 28 February 2026 of 1.25p per share. This dividend will be paid on 30 January 2026 to Shareholders on the register at 9 January 2026. Payment of this dividend will reduce the NAV per share as shown above to 47.75p pence and increase dividends paid to date to 83.9p per share.
Investment portfolio summary at 30 November 2025
Cost
Valuation
Venture capital investments
£'000
£'000
Picasso Labs, Inc. (t/a CreativeX)
4,546
12,552
MPB Group Limited
1,194
8,338
Luxury Promise Limited
6,020
7,967
Social Value Portal Ltd
2,660
7,569
Gorillini NV (t/a Gorilla)
2,886
7,401
Dash Brands Ltd
3,282
6,569
Utilis Israel Ltd (t/a Asterra)
2,144
5,108
Infinity Reliance Limited (t/a My 1st Years)
2,769
4,977
Litta App Limited
2,053
4,928
Papier Ltd
4,703
4,703
Other venture capital investments
85,363
56,112
Total venture capital investments
117,620
126,224
Cash at bank and in hand
31,232
Other net current assets
137
Net assets
157,593
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 2025
Investment additions
Cost
Venture capital investments
£’000
DeepCrawl Holding Company, Inc. (t/a Lumar)
48
Total
48
Investment disposals
There were no disposals made in the quarter to 30 November 2025.
Investment activity from 1 December 2025 to the date of this announcement
There has been no investment activity for the Company from 1 December 2025 to the date of this announcement.
Changes to share capital
Ordinary Shares of 1.6187p each
As at 1 September 2025
321,934,459
Shares bought back during the 3 months to 30 November 2025
(4,873,345)
Shares issued during the 3 months to 30 November 2025
4,860,844
As at 30 November 2025
321,921,958
In the period from 1 December 2025 to the date of this announcement, 3,239,415 Ordinary Shares were issued on 19 December 2025 pursuant to the offer for subscription that opened on 17 November 2025 and were allotted at an average price of 50.78p, based on the net asset value of 49.2p per Ordinary Share, being the net asset value as at 31 August 2025.
Offer for Subscription
ProVen VCT plc and ProVen Growth and Income VCT plc (the “Companies”) announced on 17 November 2025 that they had published a Prospectus (comprising Securities Note, Registration Document and Summary) in respect of a combined offer for subscription to raise up to £30,000,000 (up to £15,000,000 for each Company) by way of an issue of new ordinary shares in the Companies, with an over-allotment facility of up to a further £10,000,000 (up to £5,000,000 for each Company).
Material events
Other than the matters described above, there were no material events during the period from 1 September 2025 to 30 November 2025 or in the period from 1 December 2025 to the date of this announcement.
Further information
Further information regarding the Company can be found on the Company's website: www.proveninvestments.co.uk or by contacting Beringea, the Investment Manager at info@beringea.co.uk or by telephone 020 7845 7820.
Beringea LLP
Company Secretary
Telephone 020 7845 7820
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