Proven Growth & Income VCT plc : Interim Management Statement <Origin Href="QuoteRef">PGOO.L</Origin>

Proven Growth and Income VctAnnouncement

15/01/2016 17:20

ProVen Growth & Income VCT plc 
 
 Interim Management Statement 
 
 for the three months ended 30 November 2015 
 
 ProVen Growth & Income VCT plc (the "Company") presents an Interim Management
Statement for the three month period ended 30 November 2015. The statement
also includes relevant financial information between the end of the period and
the date of this announcement.  
 
 Performance 
 
                                      Unaudited 30 November  2015    Unaudited 31 August 2015    Unaudited 31 May  2015    Audited 28 February 2015   
                                      Pence                           Pence                       Pence                      Pence                      
  Net Asset Value per share ("NAV")    79.4                            81.8                        85.8                       85.7                       
  Dividends paid to date*              35.6                            33.6                        31.1                       31.1                       
  Total Return                         115.0                           115.4                       116.9                      116.8                      
 * 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 
 
 During the three month period, the Board declared an interim dividend of 2.0p
per share which was paid on 20 November 2015 to Shareholders on the register
at 23 October 2015. 
 
 Investment portfolio summary at 30 November 2015 
 
                                   Valuation   
                                   £'000      
  Venture capital investments                  
  Pulpitum Limited                    5,534    
  Dryden Holdings Limited             5,000    
  Cognolink Limited                   4,223    
  MyOptique Group Limited             3,630    
  D30 Holdings Limited                3,255    
  Sealskinz Holdings Limited          3,116    
  MEL TopCo Limited (t/a Maplin)      2,781    
  Monica Vinader Limited              2,682    
  APM Healthcare Limited              2,552    
  Donatantonio Group Limited          2,150    
  Other investments                 26,973      
                                   61,896      
  Cash at bank                      9,445       
  Total                             71,341      
 Quoted investments are valued at the closing bid price at 30 November 2015,
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 30 November 2015 
 
 Investment additions 
 
                                        £'000   
  Dryden Holdings Limited                5,000    
  Pulpitum Limited                       2,900    
  Litchfield Media Limited               1,420    
  Sealskinz Holdings Limited             986      
  Cogora Group Limited                   833      
  Big Data Partnership Limited           634      
  Simplestream Limited                   434      
  D30 Holdings Limited                   295      
  Disposable Cubicle Curtains Limited    116      
                                        12,618   
 Investment disposals 
 
                                           Cost    Market  value at 1 September 2015      Disposal  proceeds    Gain  against  cost    Realised  Gain  in period   
                                       £'000        £'000                                £'000                    £'000                   £'000                        
  IS Solutions plc                      189           479                                   737                       548                      258                           
  Cross Solar PV Limited                329           419                                   439                       110                      20                            
  Speciality European Pharma Limited    85            85                                    85                        -                        -                             
  Celoxica Limited                      63            63                                    63                        -                        -                             
  Peerius Limited                       39            39                                    39                        -                        -                             
                                       705           1,085                                 1,363                     658                      278                           
 Investment activity from 1 December 2015 to the date of this announcement 
 
 Investment additions 
 
                                    £'000   
  Linkdex Limited                    750      
  InContext Solutions Inc            249      
  Utility Exchange Online Limited    163      
  Perfect Channel Limited            130      
  Senselogix Limited                 43       
                                    1,335    
 Investment disposals 
 
                                         Cost    Market Value at 1 September 2015*      Disposal  proceeds    Gain against  cost    Realised  gain in  period   
                                       £'000     £'000                               £'000                    £'000                 £'000                        
  Speciality European Pharma Limited    57         57                                   57                        -                      -                             
  Celoxica Limited                      43         43                                   43                        -                      -                             
  Peerius Limited                       10         10                                   10                        -                      -                             
  Linkdex Limited                       6          6                                    6                         -                      -                             
                                       116        116                                  116                       -                      -                             
 *Adjusted for additions in the period 
 
   
 
 Changes to share capital 
 
                                                               Ordinary Shares of  1.6187p each   
  As at 1 September 2015                                        90,010,829                          
  Shares bought back during the 3 months to 30 November 2015    (143,373)                           
  Shares issued during the 3 months to 30 November 2015*        237,851                             
  As at 30 November 2015                                        90,105,307                          
 *Dividend Reinvestment Scheme 
 
 There have been no changes to share capital in the period from 1 December
2015 to the date of this announcement. 
 
 Material events 
 
 Other than the matters described above, there were no material events during
the period from 1 September 2015 to 30 November 2015 or in the period from 1
December 2015 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 
 
   
 
   
 
   
 

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the content, accuracy and originality of the information contained therein. 
 Source: Proven Growth & Income VCT plc via Globenewswire 
 HUG#1978962