Call Beringea on 020 7845 7820 for more information.
| Email: | Link Asset Services |
| Tel: | 0871 664 0324 |
| Address: | Link Asset Services, 34 Beckenham Road, Beckenham, Kent, BR3 4TU |
| Portal: | Signal Shares |
ProVen VCT seeks to make investments in VCT qualifying companies with the following characteristics:
ProVen VCT invests in companies at various stages of development, including those requiring capital for expansion and management buyouts, but not in start-ups. Investments are spread across a range of different sectors.
After it has invested in a business the manager, Beringea, remains closely involved, adding 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 VCT as tax-free dividends. (See About VCTs section for more info on tax).
Monica Vinader is an award‐winning high‐end fashion jewellery brand. The elegant vibrant collections, which have been showcased across the UK, Europe, Japan and U.S., focus predominately on gold, silver and semi‐precious stones and have demonstrated broad appeal amongst customers, celebrity clients and the fashion press.
www.monicavinader.com
Poq is a Software as a Service (SaaS) commerce platform provider that creates apps for major retailers. Poq provides a cloud based platform – which means retailers are able to quickly create and offer a an app at much lower than traditional price.
BlisMedia is an independent advertising technology company that uses location and demographic data to define digital audiences. Established in 2004, the London-based company designs and builds proprietary, market leading, media technology platforms and develop products that are sold to advertisers and data partners. BlisMedia serves content to consumers across the world and has offices in the UK, Singapore and Australia.
www.blismedia.com
Cogora Group is a magazine publisher and event organiser in the healthcare sectors. For 25 years the company has enjoyed a first-rate reputation for delivering top quality, timely content and events that supports healthcare professionals with their clinical decision-making and career development.
www.cogora.comProVen VCT has a target dividend yield of approx. 5% of Net Asset Value (NAV) per year. The VCT may pay a special dividend in addition to this, in the event of there being a realistion from the portfolio which results in an exceptionally large gain. The objective of paying a dividend of approx 5% of NAV each year is a target and there is no guarantee at this will be achieved.
A Historical Dividend document can be download below. Please note: This historical dividend document shows how ProVen VCT has performed historically. However, past performance is no guide to future performance.
Download Historical Dividends Document
Chairman - ProVen VCT
Neal is a chartered accountant and was a former Partner at PwC, where he was Chief Operating Officer of PwC's Advisory business and led its Pharmaceutical and Healthcare Corporate Finance practice. Neal is also a director of Octopus AIM VCT plc and Polar Capital Global Healthcare Trust plc.
Director- ProVen VCT
Barry has over 25 years’ experience in the venture capital industry, including 14 years as Managing Director of Dresdner Kleinwort Benson Private Equity Limited. He is currently a director of Downing ONE VCT plc and Elderstreet VCT plc. He was formerly a director of Henderson Private Equity Investment Trust plc and Downing Absolute Income VCT 2 plc.
Director
Malcolm is a Founding Partner of Beringea. Over the last 20 years he has been responsible for the growth, development and management of the private equity business of Beringea in both the UK and the USA.
In addition to sitting on the boards of ProVen VCT plc, ProVen Growth & Income VCT plc and ProVen Planned Exit VCT plc, he sits on the investment committees of Beringea’s three other venture capital funds and as a non-executive director on several portfolio company boards. Prior to founding Beringea, Malcolm gained Europe-wide industrial, planning and analytical experience in healthcare, engineering and financial services with Baxter International, Uniroyal Inc. and Lloyds TSB Group. Malcolm has a MBA from Kingston Business School and a degree in Business Studies.
Director - ProVen VCT
Lorna is an Executive Director and Head of the Media Sector at Numis Securities Limited. Lorna has been a top-ranked media analyst by Institutional Investor and Thomson Reuters Extel from 1987 to 2012. She was previously a director at SG Warburg and West LB Panmure. Lorna is a non¬executive director of Jupiter Primadona Growth Trust.
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.
Shareholders considering selling their shares, or trading in the secondary market, should contact the Company's Corporate Broker, Panmure Gordon (UK) Limited.
Panmure Gordon Ltd is able to provide details of close periods (when the company is prohibited from buying shares) and details of the price at which the VCT has bought in shares. They can be contacted as follows:
Chris Lloyd: 0207 886 2716 Chris.lloyd@panmure.com
Paul Nolan: 0207 886 2717 Paul.nolan@panmure.com
ProVen VCT has a policy of buying back shares at a discount of 5% to the last published net asset value adjusted for any dividends subsequently paid, subject to there being sufficient liquidity and the respective VCT not being in a "close period" (i.e. in the period prior to the announcement of the full year and half year results).
As the VCTs are unable to buy back shares directly from Shareholders, a stockbroker will need to be appointed to sell the shares.
Please call Beringea for further information on 020 7845 7820.
IMPORTANT NOTE: Selling shares less than 5 years from subscription will result in the shareholder having to repay the initial tax relief.
The Company first launched an offer for ordinary shares in February 2000, an offer for C shares in November 2006 and an offer for D shares in November 2008. Additional fundraisings on both the ordinary shares and D shares took place subsequent to the initial offers. In October 2012, the ordinary shares were consolidated into new ordinary shares on a 1 for 2 basis and the C shares and D shares were converted into new ordinary shares; C shareholders received approximately 0.9213 new ordinary shares for each C share held and D shareholders received approximately 0.8720 new ordinary shares for each D share held. The net asset value per new ordinary share at 30 November 2012 was 102.7p.
AGM notice is available here
Recent corporate governance documents - comprising Audit Committee Terms of Reference, Nomination Committee Terms of Reference, Anti Bribery Policy and Remuneration Committee Terms of Reference - are available in the literature section of the website click here.
ProVen VCT plc is registered in England & Wales under registered number 3911323. The Company's registered office is 39 Earlham Street, London WC2H 9LT.
As at 31 August 2019, the Company's issued share capital comprised 151,054,397 Ordinary shares. The total number of voting rights in the Company as at 31 August 2019 is, therefore, 151,054,397.
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The ProVen VCTs are managed by Beringea LLP, a specialist private equity fund manager based in the UK which is authorised and regulated by the Financial Conduct Authority (FCA). Beringea LLP's FCA Firm Reference Number is 496358.
The market price of VCT shares may not reflect the full underlying net asset value ("NAV") of shares and shareholders may have dificulty in selling their shares and any sale is likely to be at a discount to the NAV.
The value of shares in a VCT and the income from them may fluctuate and investors may not get back the amount they invested. The market price of VCT shares is unlikely fully to reflect their underlying net asset value. It is possible that there may not be a liquid market in the shares of VCTs and shareholders may have difficulty in selling their shares. Any sale is likely to be at a discount to net asset value.
VCTs invest in a portfolio of small companies, which by their nature carry greater risk than larger, quoted companies.
Due to a number of the features and risk factors associated with VCTs, it is an investment that is more appropriate for HNWs/Sophisticated Investors.
To comply with the requirements of applicable data protection legislation, we adhere to comprehensive privacy policy which is summarised in the ProVen VCTs Privacy Notice.
A copy of the ProVen VCTs Privacy Notice and other legal information can be found in the Legal and Privacy section of this website.