REG-Proven VCT plc : Offer for Subscription <Origin Href="QuoteRef">PVN.L</Origin>

Proven VctAnnouncement

20/10/2017 13:11

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 ProVen VCT plc



20 October 2017



Offer for Subscription



 ProVen VCT plc (the "Company") announces that it has 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 opens on 20 October 2017 and 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.

 The Offer will be available exclusively for shareholders (and their spouse
or civil partner) of the Company, ProVen Growth and Income VCT plc and ProVen
Planned Exit VCT plc until 8 November 2017.

 Applicants who had an existing shareholding, or whose spouse or civil
partner had an existing shareholding, in the Company, ProVen Growth and Income
VCT plc or ProVen Planned Exit VCT plc on 20 October 2017 will be entitled to
additional New Ordinary Shares equivalent to 1% of the amount subscribed.

 Pursuant to the Offer, Beringea LLP, the Company's investment manager
("Beringea"), will receive a fee for acting as promoter of the Offer equal to
five and a half (5.5) per cent. of the gross funds raised under the Offer from
applications received through execution only brokers or directly from
investors and three (3) per cent. of the gross funds raised under the Offer
from applications received through financial advisers. Out of the fee Beringea
will pay all costs agreed between the Company and Beringea, including charges
and expenses of or incidental to the Offer. This arrangement constitutes a
smaller related party transaction under Listing Rule 11.1.10.

 A copy of the Offer Document is available free of charge from the registered
office of the Company or from:

 Beringea LLP

39 Earlham Street

London WC2H 9LT

 To obtain a copy of the Offer Document, private investors and Financial
Advisers should call the investment manager, Beringea, on 020 7845 7820. A
downloadable version of the Offer Document will shortly be available from
www.provenvcts.co.uk.

 A copy of the Offer Document will be submitted to the National Storage
Mechanism and will shortly be available for viewing online at the following
website address:

http://www.morningstar.co.uk/uk/NSM 

 For further information please contact:

 Shane Elliott on 020 7845 7820

 Beringea LLP

 Company Secretary

 Telephone 020 7845 7820
This announcement is distributed by Nasdaq Corporate Solutions on behalf of
Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: Proven VCT plc via Globenewswire