REG-ProVen VCT plc: Interim Management Statement

Proven VctAnnouncement

28/01/2026 16:00

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ProVen VCT plc

Interim Management Statement

for the nine months ended 30 November 2025

ProVen 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”)                                     62.9       62.6       63.4       62.9     
 Dividends paid to date*                                               89.25      89.25      87.5       87.5     
 Total Return (NAV plus dividends paid since 10p Share consolidation)  152.15     151.85     150.9      150.4    

*Dividends paid represent dividends paid since the consolidation of 5p
Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this date,
the Company paid dividends totalling 113.95p on the 5p Ordinary Shares.

Dividends paid or declared
On 12 November 2025, the Company announced a Interim dividend for the year
ended 28 February 2026 of 1.5p 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 61.4p pence and
increase dividends paid to date to 90.75p per share.

Investment portfolio summary at 30 November 2025

                                               Cost     Valuation  
 Venture capital investments                   £'000    £'000      
 MPB Group Limited                             1,684    13,223     
 Gorillini NV (t/a Gorilla)                    4,624    10,300     
 Luxury Promise Limited                        5,680    7,591      
 Social Value Portal Ltd                       2,590    7,438      
 Infinity Reliance Limited (t/a My 1st Years)  4,731    7,310      
 Farmer J Limited                              4,813    7,235      
 Picasso Labs, Inc. (t/a CreativeX)            2,729    6,157      
 Access Systems, Inc. (t/a AccessPay)          3,737    5,563      
 Dash Brands Ltd                               2,718    5,440      
 Litta App Limited                             1,797    4,320      
 Other venture capital investments             86,294   63,761     
 Total venture capital investments             121,397  138,338    
 Cash at bank and in hand                               40,151     
 Other net current assets                               211        
 Net assets                                             178,700    

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)  66        
 Total                                        66        

        
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 10p each  
 As at 1 September 2025                                      281,796,044                  
 Shares bought back during the 3 months to 30 November 2025  (3,228,836)                  
 Shares issued during the 3 months to 30 November 2025       5,740,551                    
 As at 30 November 2025                                      284,307,759                  

In the period from 1 December 2025 to the date of this announcement, 3,919,700
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 64.42p, based on the net asset value of 62.6p 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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