ProVen VCT plc

Annual Financial Report
Year ended 29 February 2024

ProVen VCT plc, managed by Beringea LLP, today announces the final results for the year ended 29 February 2024. These results were approved by the Board of Directors on 11 June 2024.

Fund Overview

Dividends
Your Board is proposing a final dividend for the year ended 29 February 2024 of 1.75p per share to be paid on 16 August 2024 to Shareholders on the register on 19 July 2024. The payment of this dividend is subject to Shareholder approval at the Company’s forthcoming AGM, details of which can be found below. The payment of this dividend will result in an equivalent reduction in the Company’s NAV per share. The total tax-free dividends of 3.25p per share for the year ended 29 February 2024 represents a cash return to Shareholders of 5.1% on the opening NAV per share at 1 March 2023, after deducting the prior year’s final dividend of 2.0p per share.

Annual General Meeting
The next AGM of the Company will be held at the offices of Beringea LLP, at Charter House, 55 Drury Lane, London, WC2B 5SQ at 12:00pm on Wednesday 17 July 2024. Those intending to attend the AGM are asked to register their intention by emailing info@beringea.co.uk in advance of the meeting.

We understand that attendance in person may not be possible or desirable for all who wish to attend. Therefore, the Company offers Shareholders the option to follow proceedings of the meeting via video conference link. Any Shareholders who wish to follow the meeting remotely, should email info@beringea.co.uk for joining instructions.

Please note that Shareholders will not be able to vote or ask questions at the AGM when joining remotely. Shareholders are encouraged, even if they are planning to attend the AGM in person, to exercise their votes by submitting their proxy electronically via their Signal Shares account at www.signalshares.com and to appoint the Chair of the AGM as their proxy with their voting instructions.

Shareholders who wish to submit questions in advance of the AGM may do so via e-mail to info@beringea.co.uk and the Board will endeavour to respond to questions raised at the meeting.

Shareholder event
The Company’s Annual Shareholder Event continues to be well received and provides an important opportunity for Shareholders to hear from the Investment Manager on topics such as performance and investment activity, to ask questions of your Board, and to receive insights and updates from the portfolio companies.

With a shareholder base of more than 12,000, we feel it is important to prioritise equal access to this event to as many Shareholders as possible in the country and we therefore host the Annual Shareholder Event online. Holding the event online, rather than in person, is a more cost-effective way of reaching a larger audience, thereby benefiting all Shareholders. This year’s event has been scheduled for 10:30am to 11:45am on the morning of the AGM, Wednesday, 17 July 2024, and I would encourage you to join us for the session.

You can sign up for the Annual Shareholder Event at https://proven.connectid.cloud. If you have any questions about the event or if you would like any support with registering, then please contact Beringea via events@beringea.co.uk.

You may view the Annual Financial Report in full at www.proveninvestments.co.uk/vct/shareholder-area. All other statutory information can also be found there.

A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

For further information, please contact:
Beringea LLP
Company Secretary
Telephone 020 7845 7820