REG-Proven Growth & Income VCT plc : Offer Update <Origin Href="QuoteRef">PGOO.L</Origin>

Proven Growth and Income VctAnnouncement

04/12/2017 16:35

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ProVen Growth and Income VCT plc

Offer Update

4 December 2017

On 20 October 2017, ProVen Growth and Income VCT plc (the "Company") published
an offer document (the "Offer Document") to raise up to £4.4 million,
approximately the Sterling equivalent of €5 million, through an offer for
subscription (the "Offer") of new ordinary shares ("New Ordinary Shares"). The
Offer will close at 1pm on 20 December 2017 or as soon as the Offer is fully
subscribed or such earlier time as the Directors in their absolute discretion
may decide.

As at 21 November 2017, valid applications for subscription totalling, in
aggregate, £2.9 million had been received and allotted in respect of the
Offer.

On 22 November 2017, following the Autumn Budget Statement, Her Majesty's
Government introduced a number of changes to the rules governing Venture
Capital Trusts. Further details of these changes were set out in the first
draft of the Finance (No. 2) Bill 2018 (the "Finance Bill") published on 1
December 2017.

As of the date of this announcement, the Board does not believe that these
rule changes will materially affect either the purpose for which funds are
being raised under the Offer or the Company's investment policy and strategy.

Therefore, the Board confirms that the Offer remains open and the Company
expects to make a final allotment of New Ordinary Shares on 20 December 2017
unless the Offer is fully subscribed before then in which case the final
allotment may be made at an earlier date.

Beringea LLP

Company Secretary

Telephone 020 7845 7820

- End
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Source: Proven Growth & Income VCT plc via Globenewswire