Circ re.Enhanced Buyback Facility

PROVEN VCT PLC

CIRCULAR - ENHANCED BUYBACK FACILITY

Summary

The board of directors ("Board") of ProVen VCT plc ("the Company") is today sending out a circular ("Circular") to shareholders in relation to an enhanced buyback facility, such scheme being for up to 24.99% of the issued share capital of the Company ("Enhanced Buyback Facility").

Implementation of the Enhanced Buyback Facility is subject to shareholder approval being provided at a general meeting convened for 21 March 2013 pursuant to the Circular. The Enhanced Buyback Facility has opened today for application.

Enhanced Buyback Facility

The Company is offering to purchase up to a maximum of 11,445,910 existing shares, which represent 24.99% of the issued share capital as at 14 February 2013, subject to the proceeds of sale being reinvested in new shares.

The record date to be eligible to participate in the Enhanced Buyback Facility is 5.00 p.m. on 14 February 2013.

The closing date for applications pursuant to the Enhanced Buyback Facility is 12.00 noon on 22 March 2013.

Further details on the Enhanced Buyback Facility, the terms and conditions thereof and the tax consequences of participating, are set out in the Circular. Shareholders are advised to consult their independent financial adviser.

Availability of Documents

The Circular has been submitted to the Financial Services Authority and will shortly be available for inspection at the National Storage Mechanism, which is located at:

http://www.morningstar.co.uk/uk/NSM

A copy of the Circular can also be obtained from the Company's website:

http://www.provenvcts.co.uk/

For further information, please contact:

Shane Elliott, Beringea LLP, 020 7845 7820

Kate Justham, Beringea LLP, 020 7845 7820

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Source: Proven VCT plc via Thomson Reuters ONE

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