REG-ProVen VCT plc: Publication of Prospectus

Proven VctAnnouncement

17/11/2025 13:15

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ProVen VCT plc (LEI: 21380091P1TTU2Z2AW75)        
ProVen Growth and Income VCT plc (LEI: 213800K1RM776QM8XG84)
(together the "Companies" and each being a "Company")        

17 November 2025        

Publication of Prospectus

The Companies announce that they have today published a Prospectus (comprising
a Securities Note, Registration Document and Summary) in respect of an offer
for subscription to raise up to £30,000,000 in aggregate by way of an issue
of new ordinary shares in the Companies ("New Ordinary Shares"), with an
over-allotment facility of up to a further £10,000,000 in aggregate (each
Company raising a maximum of £20,000,000 including the over-allotment
facility), payable in full in cash on application (the “Offer”).

The Offer opens on 17 November 2025 and will close not later than 12 p.m. on 1
April 2026 in respect of the 2025/2026 Offer and not later than 5.00 p.m. on
30 April 2026 in respect of the 2026/2027 Offer, or as soon as the Offer is
fully subscribed. The directors of each of the Companies may decide to extend
the 2026/2027 Offer in respect of their Company at their absolute discretion
to a date no later than 16 November 2026.

Applicants (and their spouses/civil partners) who had an existing shareholding
in one of the Companies on 14 November 2025 , and whose valid application
(including cleared funds) forms part of the first £5 million of valid
applications for each Company and is received by 9 a.m. on 15 December 2025,
will be entitled to additional New Ordinary Shares with an aggregate
subscription price equivalent to 1% of the amount subscribed.

All other applicants whose valid application (including cleared funds) forms
part of the first £5 million of valid applications for each Company and is
received by 9 a.m. on 15 December 2025 will be entitled to additional New
Ordinary Shares with an aggregate subscription price equivalent to 0.5% of the
amount subscribed.

The subscription price of the additional New Ordinary Shares to be received by
early applicants will be met by Beringea LLP, the Companies' investment
manager ("Beringea").

Pursuant to an agreement dated 17 November 2025 between, inter alia, the
Companies and Beringea, Beringea will receive a fee (the "Fee") for acting as
promoter of the Offer equal to three and a half (3.5) per cent. of the gross
funds raised under the Offer from applications received directly from
investors and three (3) per cent. of the gross funds raised under the Offer
from applications received through a financial adviser or an execution-only
broker. Out of the Fee Beringea will pay all costs, agreed between the
Companies and Beringea, including charges and expenses, of or incidental to
the Offer.

The board of each Company believes that the Fee is fair and reasonable as far
as the shareholders of their respective Company are concerned and have been
so advised by Howard Kennedy Corporate Services LLP, as sponsor to each
Company.

To obtain a copy of the Securities Note, investors and Financial Advisers
should call Beringea, on 020 7845 7820. A downloadable version of the
Securities Note is also available from www.proveninvestments.co.uk.

A copy of the Prospectus is available, free of charge, from the registered
office of the Companies and Beringea at:

Charter House
55 Drury Lane
London WC2B 5SQ

Copies of the Prospectus will be submitted to the National Storage Mechanism
and will shortly be available for viewing online at the following web-site
address:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

For further information please contact: Shane Elliott on 020 7845 7820.

Beringea LLP
Company Secretary
Telephone 020 7845 7820