Statement re Offer for Subscription - Closure o...

ProVen VCT plc
21 March 2016
Statement re Offer for Subscription - Closure of Offer

ProVen VCT plc (the "Company") is pleased to announce that the Offer for Subscription which opened on 3 December 2015 (the "Offer") has seen a strong level of demand and is expected to reach the £30 million fundraising target shortly. As a result, the Offer will close to further applications at 1 p.m. on 24 March 2016 (the "Offer Closure Date"). The Directors of the Company have authorised the use of the over-allotment facility up to £2 million in order to satisfy investor demand in excess of the fundraising target of £30 million, subject to applications being received before 1 p.m. on the Offer Closure Date.

The final allotment for the 2015/16 tax year will take place on or before 5 April 2016. There will be a further allotment for the tax year 2016/17 to follow as soon as practicable after 5 April 2016, following which the Offer will close. Following each such allotment the Company will announce the numbers and issue prices of the shares allotted. Dealings in the shares are expected to commence shortly thereafter.

For further information please contact Shane Elliott or Kate Justham on 020 7845 7820.

Beringea LLP
Company Secretary
Telephone [phone]

- End

---

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Proven VCT plc via Globenewswire

HUG#1996344