ProVen 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”)
61.1
60.5
Dividends paid to date*
90.75
90.75
Total Return (NAV plus dividends paid since 10p Share consolidation)
151.85
151.25
*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 3 June 2026, the Company announced a final dividend for the year ended 28 February 2026 of 1.6p 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 59.5p and increase dividends paid to date to 92.35p per share.
Investment portfolio summary at 31 May 2026
Portfolio summary
Cost
Valuation
£’000
£’000
Venture capital investments
MPB Group Limited
1,684
12,846
Gorillini NV (t/a Gorilla)
4,624
9,938
Farmer J Limited
4,813
8,135
Infinity Reliance Limited (t/a My 1st Years)
4,731
7,365
Picasso Labs, Inc. (t/a CreativeX)
2,729
6,302
Dash Brands Ltd
2,718
6,004
Luxury Promise Limited
5,680
5,938
Social Value Portal Ltd
2,590
5,824
Cogora Group Limited
2,643
5,270
Litta App Limited
1,797
4,521
Other venture capital investments
81,375
59,162
Total venture capital investments
115,384
131,305
Cash at bank and in hand
50,516
Other net current assets
3,002
Net assets
184,823
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)
1,457
Total
1,457
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)
3,737
5,501
5,517
1,780
16
Total
3,737
5,501
5,517
1,780
16
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 a cost of £1,492,000.
In the period from 1 June 2026 to the date of this announcement, Monmouth Holdings Limited (an investee company 100% owned by the Company) was fully disposed of, realising £nil of proceeds for the Company.
Changes to share capital
Ordinary
Shares of
10p each
As at 1 March 2026
286,524,656
Shares bought back during the 3 months to 31 May 2026
–
Shares issued during the 3 months to 31 May 2026
16,109,542
As at 31 May 2026
302,634,198
In the period from 1 June 2026 to the date of this announcement, 855,631 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 62.38p, based on the net asset value of 60.5p 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, 4,771,095 Ordinary Shares were repurchased and subsequently cancelled.
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.
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.
