VCT News
ProVen Growth & Income VCT and ProVen VCT announce increases in Total Return
11 October 2005 - Leading Venture Capital Trusts ProVen Growth & Income VCT and ProVen VCT have announced their interim results to 31st August 2005.
ProVen Growth & Income (PGI VCT) reported a Total Return per share at 31st August of 135.6p, a 5.7% increase on the Total Return at 28 February 2005. This is equivalent to a 55% return for investors who received 20% income tax relief on their original subscription (based on the PGI VCT price on 10th October 2005).
Additionally PGI VCT announced an interim dividend of 3.0p per share, bringing total dividends over the last twelve months to 6.5p per share.
ProVen VCT announced a Total Return per share of 125.0p for the six months to 31st August, a 2.1% increase on the Total Return at 28 February 2005. ProVen VCT has also paid total dividends of 6.5p in the last twelve months.
ProVen Growth & Income VCT and ProVen VCT are the first and third best performing VCTs in their respective launch years . Furthermore, PGI VCT is now recognised as the fourth best performing VCT out of over 60 VCTs with a track record of more than 3 years2. Beringea, the private equity firm which manages both ProVen VCTs, will shortly be launching a "C" share offer for PGI VCT and is seeking to raise up to £25 million.
About Beringea
Beringea is an international venture capital firm with offices in London and Detroit. In the UK Beringea manages ProVen VCT, ProVen Health VCT, ProVen Growth & Income VCT and Global Rights Fund II. Beringea launched its first VCT in 1996, making it one of the most experienced VCT managers in the UK. ProVen Growth & Income and ProVen VCT are highest performing VCTs of their launch years, respectively, according to www.taxefficientreview.com. For more information please visit www.provenvcts.co.uk.