ProVen Growth & Income VCT Plc
LATEST NEWS
ProVen VCT Early-Bird Discount period extended to 14th February 2012
ProVen VCT has announced an extension to its discount period for early investments.
ProVen Growth & Income VCT Plc is a generalist fund that invests in a diversified portfolio of UK based unquoted companies that have significant potential for growth.
After it has invested in a business, Beringea remains closely involved, aiming to add value wherever possible. As the values of the investments increase, Beringea aims to identify opportunities for profitable realisations. Capital gains made on disposals of the investments are not subject to tax and are distributed to shareholders in ProVen Growth & Income VCT as tax free dividends.
ProVen Growth & Income VCT plc is the best-performing VCT launched in the tax year - 2001/2002 and the 2nd best performing VCT of all time. Source: www.taxefficientreview.com.
For more information on the ProVen Growth & Income VCT, please use our contact form or call 0845 686 0225.
Performance Tables
The following tables show the return per £1 invested, for shareholders who invested at the original launch of the respective share class. Please note: This table shows how ProVen Growth & Income VCT has performed historically. However, past performance is no guide to future performance.
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Source: Interim management statement for the three months ended 30 November 2011. |
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| PGIVCT New Ordinary Shares (Created October 2009) | PGIVCT D Shares (Launched November 2008) | |
|---|---|---|
| Current NAV | 82.6p | 90.9p |
| Cumulative dividends paid since creation | 4.5p | - |
| Total return (NAV + dividends paid) | 87.1p | 90.9p |
The new ordinary shares were formed from the consolidation of the original ordinary shares and original C shares in October 2009. One original ordinary share converted into approximately 0.6178 new ordinary shares and one original C share converted into one new ordinary share.
The performance of the original ordinary shares and original C shares, issued prior to October 2009, based on the current net asset value of the new ordinary shares and the dividends paid prior to and after consolidation, is summarised below. The proforma NAVs for each original share class reflect the consolidation ratio applied to the current net asset value of the new ordinary shares. Dividends paid prior to consolidation are shown at the actual pence per share; dividends paid since consolidation are shown after adjusting for the conversion ratio.
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Source: Beringea LLP as at 16 January 2012. |
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| PGIVCT Original Ordinary Shares (Launched February 2001) | PGIVCT Original C Shares (Launched November 2005) | |
|---|---|---|
| Proforma NAV* | 51.0p | 82.6p |
| Cumulative dividends paid prior to conversion | 146.9p | 9.6p | Cumulative dividends paid since conversion* | 2.8p | 4.5p |
| Total return (Proforma NAV + dividends paid) | 200.7p | 96.7p |
(*) Proforma figures reflecting the conversion ratio of the original ordinary shares and original C shares in October 2009.
ProVen Growth & Income VCT Current Share Prices
The current share prices as provided by the London Stock Exchange:
Selling Shares
Shares of a VCT can be bought and sold on the London Stock Exchange via a stockbroker. There is, however, likely to be a very limited secondary market for shares. Investors are reminded that there may be tax implications in respect to selling VCT shares and are therefore advised to consult their independent financial adviser if they have any queries.
Buy Back Policy
ProVen Growth & Income VCT operates a policy of buying back its own shares for cancellation as they become available - subject to maintaining a level of liquidity in the fund which the directors consider appropriate. The VCTs are, however, unable to buy shares directly from shareholders, and so shareholders will need to use a stockbroker. Downing Management Services Limited is able to provide details of closed periods (when the VCTs are prohibited from buying in their own shares) and details of the prices at which the VCTs have bought in shares. Downing can be contacted at 10 Lower Grosvenor Place, London SW1W 0EN; telephone 020 7416 7780.
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