| ProVen Growth and Income VCT plc | | | | | |
| Interim Management Statement | | | | | |
| for the three months ended 31 May 2026 | | | | | |
| | | | | | |
| ProVen Growth and Income VCT plc (the “Company”) presents an Interim Management Statement for the three-month period ended 31 May 2026. The statement also includes relevant financial information between the end of the period and the date of this announcement. |
| | | | | | |
| Performance | | | | | |
| | | | | Unaudited | Audited |
| | | | | 31 May | 28 Feb |
| | | | | 2026 | 2026 |
| | | | | Pence | Pence |
| Net Asset Value per share (“NAV”) | | | | 47.6 | 47.5 |
| Dividends paid to date (originally as "C" Shares)* | | | | 83.90 | 83.90 |
| Total Return (NAV plus dividends paid since "C" Share class launch) | | | | 131.50 | 131.40 |
| | | | | | |
| * Dividends paid represents dividends paid in respect of the original "C" Shares between their launch in 2006 up until their conversion in 2009 and as Ordinary Shares since the "C" Share conversion. "C" Shares were converted into Ordinary Shares on a one for one basis in 2009. |
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| Dividends paid or declared | | | | | |
| On 3 June 2026, the Company announced a final dividend for the year ended 28 February 2026 of 1.3p per share. This dividend will be paid on 14 August 2026 to Shareholders on the register at 17 July 2026. Payment of this dividend will reduce the NAV per share as shown above to 46.3p and increase dividends paid to date to 85.2p per share. |
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| Investment portfolio summary at 31 May 2026 | | | | | |
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| Portfolio summary | | | | | |
| | | | | Cost | Valuation |
| | | | | £'000 | £'000 |
| Venture capital investments | | | | | |
| Picasso Labs, Inc. (t/a CreativeX) | | | | 4,546 | 12,924 |
| MPB Group Limited | | | | 1,194 | 8,100 |
| Dash Brands Ltd | | | | 3,282 | 7,250 |
| Gorillini NV (t/a Gorilla) | | | | 2,886 | 7,121 |
| Papier Ltd | | | | 4,703 | 6,980 |
| Luxury Promise Limited | | | | 6,020 | 6,243 |
| Social Value Portal Ltd | | | | 2,660 | 5,919 |
| Utilis Israel Ltd (t/a Asterra) | | | | 2,144 | 5,216 |
| Litta App Limited | | | | 2,053 | 5,158 |
| Infinity Reliance Limited (t/a My 1st Years) | | | | 2,769 | 5,011 |
| Other venture capital investments | | | | 81,129 | 52,111 |
| Total venture capital investments | | | | 113,386 | 122,033 |
| Cash at bank and in hand | | | | | 34,751 |
| Other net current assets | | | | | 2,647 |
| Net assets | | | | | 159,431 |
| | | | | | |
| Unquoted investments are valued at fair values established using the International Private Equity and Venture Capital Valuation Guidelines. |
| | | | | | |
| Investment activity during the three-month period ended 31 May 2026 | | | | | |
| | | | | | |
| Investment additions | | | | | |
| | | | | | Cost |
| Venture capital investments | | | | | £’000 |
| Mothership Drinks Ltd (t/a MOTH) | | | | | 1,043 |
| Total | | | | | 1,043 |
| | | | | | |
| Investment disposals | | | | | |
| | | Market value at | Disposal | Gain against | Realised gain / |
| | Cost | 1 March 2026 | Proceeds | Cost | (loss) in period |
| | £’000 | £’000 | £’000 | £’000 | £’000 |
| Access Systems, Inc. (t/a AccessPay) | 1,783 | 2,660 | 2,667 | 884 | 7 |
| Total | 1,783 | 2,660 | 2,667 | 884 | 7 |
| | | | | | |
| Investment activity from 1 June 2026 to the date of this announcement |
| | | | | | |
| In the period from 1 June 2026 to the date of this announcement, a new investment was made in Checkboard Limited (t/a Kord) at cost of £1,068,000. |
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| In the period from 1 June 2026 to the date of this announcement, Dryden Holdings Limited (an investee company 100% owned by the Company) was fully disposed of, realising £nil of proceeds for the Company. |
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| Changes to share capital | | | | | |
| | | | | | Ordinary |
| | | | | | Shares of |
| | | | | | 1.6187p each |
| | | | | | |
| As at 1 March 2026 | | | | | 321,673,772 |
| Shares bought back during the 3 months to 31 May 2026 | | | | | - |
| Shares issued during the 3 months to 31 May 2026 | | | | | 13,506,644 |
| | | | | | |
| As at 31 May 2026 | | | | | 335,180,416 |
| | | | | | |
| In the period from 1 June 2026 to the date of this announcement, 498,642 Ordinary Shares were issued on 3 July 2026 pursuant to the offer for subscription that opened on 17 November 2025 and were allotted at an average price of 49.08p, based on the net asset value of 47.5p per Ordinary Share, being the net asset value as at 28 February 2026. |
| | | | | | |
| In the period from 1 June 2026 to the date of this announcement, 6,165,285 Ordinary Shares were repurchased and subsequently cancelled. |
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| Material events | | | | | |
| Other than the matters described above, there were no material events during the period from 1 March 2026 to 31 May 2026 or in the period from 1 June 2026 to the date of this announcement. |
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| Further information | | | | | |
| Further information regarding the Company can be found on the Company's website: www.proveninvestments.co.uk or by contacting Beringea, the Investment Manager at info@beringea.co.uk or by telephone 020 7845 7820. |
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| Beringea LLP | | | | | |
| Company Secretary | | | | | |
| Telephone 020 7845 7820 | | | | | |
| -End | | | | | |
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