Interim Management Statement
for the three months ended
Performance
| Unaudited | Unaudited | Unaudited 31 May 2020 | Audited 29 February 2020 |
Pence | Pence | Pence | Pence | |
Net Asset Value per share (“NAV”) | 70.0 | 67.3 | 68.0 | 70.1 |
Dividends paid to date* | 71.75 | 70.25 | 68.25 | 68.25 |
NAV plus dividends paid to date | 141.75 | 137.55 | 136.25 | 138.35 |
*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in
Dividends paid or declared
On
Investment portfolio summary at
Portfolio summary
Valuation | |
Venture capital investments | £’000 |
6,931 | |
6,891 | |
6,127 | |
4,702 | |
4,482 | |
3,948 | |
4,128 | |
4,025 | |
3,808 | |
3,470 | |
Other investments | 33,935 |
82,447 | |
Cash at bank | 36,491 |
Other net current assets | 243 |
Net Assets | 119,181 |
Quoted investments are valued at the closing bid price at
Investment activity during the three month period ended
Investment additions
£’000 | ||
1,153 | ||
250 | ||
184 | ||
150 | ||
1,737 |
Investment disposals
| Cost | Market value at | Disposal Proceeds | Gain against cost | Realised loss in period | |
£’000 | £’000 | £’000 | £’000 | £’000 | ||
146 | 294 | 288 | 142 | (6) | ||
146 | 294 | 288 | 142 | (6) |
*Part-disposal of shares, which completed at the same time as the follow-on investment in the same company. The transaction was structured in this way in order to strengthen the Company’s overall position as a shareholder in the company.
Investment activity from
£’000 | ||
309 | ||
309 |
Investment disposals from
There were no investment disposals in the period from
Changes to share capital | Ordinary Shares of 10p each |
As at | 170,706,535 |
Shares bought back during the 3 months to | (390,969) |
Shares issued during the 3 months to | - |
As at | 170,315,566 |
In the period from
In addition, 646,450 Ordinary Shares were issued under the Company’s Dividend Reinvestment Scheme in relation to the dividend paid on
Material events
Other than the matters described above, there were no material events during the period from
Further information
Further information regarding the Company, can be found on Beringea's dedicated VCT website: www.provenvcts.co.uk or by contacting Beringea, the Investment Manager at provenvcts@beringea.co.uk or by telephone 020 7845 7820.
Company Secretary
Telephone 020 7845 7820
-End
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