VCT News
ProVen VCT £15m 'C' Share Offer raises £2.5m in first three weeks
7 December 2006 - London - Beringea Ltd, the manager of ProVen VCT, announced today that ProVen's 'C' Share Offer has raised £2.5 million since opening on November 15, 2006.
Launched in February 2000, ProVen VCT is the best performing fund in its launch year1. Both ProVen VCT and Beringea's ProVen Growth and Income VCT made headlines last month after the sale of portfolio company Mergermarket resulted in the payment of special dividends to Ordinary Shareholders.
Beringea Sales Director Jeff Cornish commented, "Following the recent budget changes, there has been much speculation about whether the market will continue to see VCTs as an attractive investment opportunity. Although the income tax relief has dropped from 40% to 30%, we believe that VCTs remain a viable proposition for the intelligent investor. Taking £2.5m in three weeks shows there is a high level of confidence in the VCT market, provided the proposition is right."
Early Bird Offer
Additional Shares for Early Investment
Investors who apply before 5.00pm on 29 December 2006 will receive 10 extra 'C' shares for each £1000 invested, equivalent to a discount of 1% on the normal subscription price per 'C' share.
For more information about the ProVen VCT 'C' share offer, or for a prospectus, please contact Jeff Cornish on 020 7845 7820 or email info@beringea.co.uk.
The ProVen C share offer prospectus can be downloaded here. The terms of use in relation to VCTs must be read.
1 Source: www.taxefficientreview.com
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.