Intention to utilise an over allotment facility
Summary by AI BETAClose X
ProVen VCT plc
ProVen Growth and Income VCT plc
31 March 2026
Intention to utilise an over allotment facility
On 17 November 2025, ProVen VCT plc and ProVen Growth and Income VCT plc (the “Companies”) launched offers for subscription (the “Offer”) to raise up to £40 million by way of an issue of new ordinary shares ("New Ordinary Shares") in the Companies, with each of the Companies raising up to £15 million, together with an over allotment facility of up to a further £5 million for each Company. Full details of the Offer are contained in a prospectus (comprising a Securities Note, Registration Document and Summary (the “Prospectus")), which was published by the Companies on 17 November 2025.
As set out in the Prospectus, the directors of the Companies have the ability (at their discretion) to utilise the over allotment facility and increase the number of New Ordinary Shares available for subscription under the Offer in order to raise up to £20 million in each of the Companies. Accordingly, the directors of both Companies are pleased to announce that they intend to utilise the over allotment facility, in order to ensure capacity for those wishing to invest in the Companies.
The Offer will close not later than 12 p.m. on 1 April 2026 in respect of the 2025/2026 tax year and not later than 5 p.m. on 30 April 2026 in respect of the 2026/2027 tax year, or as soon as the Offer is fully subscribed. The Directors, in their absolute discretion, may decide to close the Offer earlier or extend the closing date in respect of the 2026/2027 tax year to a date no later than 16 November 2026.
To obtain a hard copy of the Securities Note private investors and Financial Advisers should call the investment manager, Beringea LLP, on 020 7845 7820. A downloadable version of the Securities Note (and the entire Prospectus) is also available from www.provenvcts.co.uk. A copy of the Prospectus is also available, free of charge, from the registered office of the Companies:
Beringea LLP
Charter House
55 Drury Lane
London WC2B 5SQ
For further information please contact:
Shane Elliott on 020 7845 7820
Beringea LLP
Company Secretary
Telephone 020 7845 7820
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