ProVen VCT plc: Statement re Offer for Subscription - Additional Shares for Early Applications
ProVen VCT plc
ProVen Growth and Income VCT plc
21 February 2020
Statement re Offer for Subscription – Additional Shares for Early Applications
ProVen VCT plc and ProVen Growth and Income VCT plc (individually a “Company”, collectively the "Companies") are pleased to announce that the Offer for Subscription which opened on 27 January 2020 (the "Offer") has seen a strong level of demand and that the first £5 million in gross applications for each Company, the level at which applicants who submit valid applications under the Offer will benefit from additional shares, has been received by Beringea LLP (the “Receiving Agent”).
Applicants for whom valid application forms were, or are, received by Beringea after the first £5 million of gross applications were received will not benefit from additional shares in either of the Companies under the Offer.
The Offer will close not later than 5.00pm on 2 April 2020 in respect of the 2019/2020 Offer and not later than 1.00pm on 30 April 2020 in respect of the 2020/2021 Offer, or as soon as the Offer is fully subscribed. The directors of each of the Companies may decide to extend the Offer in respect of their Company at their absolute discretion to a date no later than 31 December 2020.
New Ordinary Shares will be allotted and issued in respect of valid applications received for the 2019/2020 Offer on 2 March 2020, 30 March 2020 and 3 April 2020 and any other date prior to 5 April 2020 on which the Directors decide, and for the 2020/2021 Offer on 6 April 2020 and 30 April 2020, and any other dates after 5 April 2020 and prior to the close of the Offer on which the Directors decide.
For further information please contact Shane Elliott on 020 7845 7820.
Telephone 020 7845 7820