Interim Management Statement

 

 

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, ProVen Growth & Income VCT plc presents an Interim Management Statement for the three month period ended 31 May 2008. The statement also includes relevant financial information between the end of the period and the date of this statement.

 

 

On 14 March 2008, the Company paid an interim capital dividend of 18.5p per Ordinary Share and 2.0p per 'C' Share in respect of the year ended 29 February 2008.

 

As a result of the dividends paid in the period, a provision of £232,000 has been made in the Company's Ordinary Share Pool (equivalent to 3.4p per Ordinary Share) for fees payable to Beringea Limited under the terms of the performance incentive fee agreements.

On 19 June 2008, the Company declared a final revenue dividend of 1.5p per Ordinary Share and 1.25p per 'C' share in respect of the year ended 29 February 2008. These dividends will be paid on 22 July 2008 to Shareholders on the register at 4 July 2008.

* NAV plus cumulative dividends paid since launch of Company

 

* NAV plus cumulative dividends paid since launch of 'C' Share fundraising

 

Quoted investments are valued at the closing bid price at 31 May 2008. Unquoted investments are valued at fair values established using the International Private Equity and Venture Capital Valuation Guidelines.

* Quoted on AIM

 

From the 1 June 2008 to the date of this announcement the Company made the following further additions:

 

 

Since the period end, the Company acquired 25,900 'C' Shares for cancellation.

 

Other than described above, there were no material events during the period from 1 March 2008 to 31 May 2008 or in the period from 1 June 2008 to the date of this announcement.