In questo articolo:
ProVen VCT plc
Interim Management Statement
for the nine months ended 30 November 2024
ProVen VCT plc (the “Company”) presents an Interim Management Statement for the nine-month period ended 30 November 2024. The statement also includes relevant financial information between the end of the period and the date of this announcement.
Performance
| Unaudited | Unaudited | Unaudited | Audited | ||||
| Pence | Pence | Pence | Pence | ||||
| Net Asset Value per share (“NAV”) | 64.0 | 62.9 | 65.6 | 65.2 | |||
| Dividends paid up to date* | 86.00 | 86.00 | 84.25 | 84.25 | |||
| Total Return (NAV plus dividends paid since 10p Share consolidation) | 150.00 | 148.90 | 149.85 | 149.45 |
*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this date, the Company paid dividends totalling 113.95p on the 5p Ordinary Shares.
Dividends paid or declared
On 5 November 2024, the Company announced an Interim dividend for the year ending 28 February 2025 of 1.5p per share. This dividend was paid on 17 January 2025 to Shareholders on the register at 20 December 2024. Payment of this dividend will reduce the NAV per share as shown above to 62.5p and increase dividends paid to date to 87.5p per share.
Investment portfolio summary at 30 November 2024
Portfolio summary
| Cost | Valuation | |
| Venture capital investments | £’000 | £’000 |
| MPB Group Limited | 1,684 | 10,230 |
| Gorillini NV (t/a Gorilla) | 4,624 | 9,074 |
| Luxury Promise Limited | 5,680 | 8,928 |
| Infinity Reliance Limited (t/a My 1st Years) | 4,731 | 7,440 |
| Picasso Labs, Inc. (t/a CreativeX | 2,729 | 5,706 |
| Access Systems, Inc. (t/a AccessPay) | 3,737 | 5,661 |
| Social Value Portal Ltd | 2,458 | 5,351 |
| Farmer J Limited | 3,670 | 5,314 |
| Lupa Foods Limited | 309 | 4,925 |
| Moonshot CVE Ltd | 2,298 | 4,680 |
| Other Venture Capital investments | 83,269 | 63,099 |
| Total Venture Capital investments | 115,189 | 130,408 |
| Cash and cash equivalents | 43,438 | |
| Other net current assets | (1,799) | |
| Net Assets | 172,047 |
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 30 November 2024
Investment additions
There were no additions made in the quarter to 30 November 2024.
Investment disposals
|
| Market |
| Gain | Realised gain/ | |
| £’000 | £’000 | £’000 | £’000 | £’000 | |
| Lupa Foods Limited (loan repayment) | 385 | 502 | 502 | 117 | - |
| Buckingham Gate Financial Services Limited | - | 57 | 59 | 59 | 2 |
| 385 | 559 | 561 | 176 | 2 |
Investment activity from 1 December 2024 to the date of this announcement
In the period from 1 December 2024 to the date of this announcement, a follow on investment was made in Social Value Portal Ltd at cost of £132,000.