ProVen VCT plc Plans Expansion of Share Offering Facility
ProVen VCT plc and ProVen Growth and Income VCT plc Announce Plans
ProVen VCT plc
ProVen Growth and Income VCT plc
Recently, ProVen VCT plc and ProVen Growth and Income VCT plc have taken significant steps to enhance their investment opportunities.
Details on the Share Offering
On November 6, the Companies announced an Offer to raise up to £40 million through the issuance of New Ordinary Shares. Each company aims to raise £15 million, along with the option to utilize an over-allotment facility to add an extra £5 million for each entity. This announcement included the release of a comprehensive Prospectus detailing all aspects of the Offer.
Utilizing the Over-Allotment Facility
The directors are excited to exercise the over-allotment option, enabling the Companies to increase the total subscription capacity to £20 million each. This approach aims to accommodate the increasing interest from potential investors. By doing this, they ensure that more participants can contribute to the growth of the Companies.
Extended Offer Timeline
The Offer has been extended to end on September 30, with a provision for early closure if it becomes fully subscribed beforehand. Directors have the discretion to prolong the Offer until November 5 at the latest, ensuring flexibility in responding to investor interest.
Contact Information for Interested Investors
For those keen on obtaining a hard copy of the Securities Note, both private investors and Financial Advisers can reach out to Beringea LLP, the investment manager. They can be contacted at 020 7845 7820. Additionally, online versions of the Securities Note and the complete Prospectus are accessible via the official website.
Individuals may also visit Beringea LLP's office for physical copies:
Beringea LLP
Charter House
55 Drury Lane
London WC2B 5SQ
Further Inquiries
If there are additional questions or require more information, Shane Elliott from Beringea can be contacted directly at 020 7845 7820. He is available to assist with inquiries regarding the Companies and their growth strategies.
Frequently Asked Questions
What is the purpose of the over-allotment facility?
The over-allotment facility allows ProVen VCT plc to raise additional funds beyond the initial offering to meet investor demand.
How much are the Companies looking to raise?
The total amount targeted is £40 million, with each company aiming for £15 million from new subscriptions and an additional £5 million through the over-allotment facility.
When does the Offer close?
The Offer is set to close on September 30, unless it fills up before that date.
Who can investors contact for more information?
Investors can call Shane Elliott at 020 7845 7820 for any inquiries or further details.
Where can I find the Prospectus?
The Prospectus can be obtained online from the official website or a hard copy from Beringea LLP's office.
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