ProVen Growth and Income VCT plc
Interim Management Statement
for the nine months ended 30 November 2023

ProVen Growth and Income VCT plc (the “Company”) presents an Interim Management Statement for the nine-month period ended 30 November 2023. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

 Unaudited
30 November
2023
Unaudited
31 August
2023
Unaudited
31 May
2023
Audited
28 February
2023
 PencePencePencePence
Net Asset Value per share (“NAV”)54.051.453.054.2
Dividends paid to date since class launch (originally as ‘C’ Shares)*77.277.275.475.4
NAV plus dividends paid to date131.2128.6128.4129.6

* 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
On 7 November 2023, the Company announced an interim dividend for the year ended 28 February 2024 of 1.25p per share. This dividend was paid on 15 December 2023 to shareholders on the register at 17 November 2023. The payment of this dividend will reduce the NAV shown above of 54.0p at 30 November 2023 to 52.75p per share.

Investment portfolio summary at 30 November 2023

 Cost
£’000
Valuation
£’000
Luxury Promise Limited6,0209,646
Picasso Labs, Inc. (t/a CreativeX)4,5468,884
Sannpa Limited (t/a Fnatic)6,7186,774
MPB Group Limited1,1945,396
Social Value Portal Ltd2,5424,896
Gorillini NV (t/a Gorilla)1,9494,787
Utilis Israel Ltd (t/a Asterra)2,1444,769
Papier Ltd4,7034,703
Infinity Reliance Limited (t/a My 1st Years)2,7694,701
DeepCrawl Holding Company, Inc. (t/a Lumar)4,0334,029
Been There Done That Global Limited3,1493,942
Dash Brands Ltd3,2823,920
Second Nature Healthy Habits Ltd3,8423,842
WS HoldCo, PBC. (t/a WiredScore)3,4943,426
Lupa Foods Limited6463,114
Arctic Shores Limited2,9092,928
Dealroom.co B.V.2,0122,815
Litchfield Media Limited1,4202,622
Litta App Limited2,0532,464
Yardlink Ltd2,3192,319
Other venture capital investments51,73126,541
Total venture capital investments113,475116,518
Cash at bank and in hand 46,654
Other net current assets 845
Net assets 164,017

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 2023

Investment additions

 £’000
MOTH Drinks Ltd66
 66
  
There has been no investment activity in the period from 1 December 2023 to the date of this announcement.

 


Changes to share capitalOrdinary
Shares
of 1.6187p each
As at 1 September 2023306,263,244
Shares bought back during the 3 months to 30 November 2023(2,654,971)
Shares issued during the 3 months to 30 November 2023-
As at 30 November 2023303,608,273

In the period from 1 December 2023 to the date of this announcement, 1,145,081 Ordinary Shares were issued under the Company’s Dividend Reinvestment Scheme (“DRIS”) in relation to the dividend paid on 15 December 2023.

Material events
Other than the matters described above, there were no material events during the period from 1 September 2023 to 30 November 2023 or in the period from 1 December 2023 to the date of this announcement.

Further information
Further information regarding the Company can be found on Beringea's dedicated VCT website: www.proveninvestments.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