ProVen Growth and Income VCT plc Issues 713,003 New Ordinary Shares
News related to:ProVen Growth and Income VCT plc · 1 min read
ProVen Growth and Income VCT plc, a venture capital trust, has recently completed a significant transaction. On September 11, 2026, the company issued 713,003 new ordinary shares, each priced at 48.09 pence. This allotment was part of an offer that opened on November 17, 2025, and included a small number of shares issued to existing shareholders to cover commission payments.
The average price of 48.09 pence was based on the latest net asset value of 46.3 pence, adjusted for a dividend of 1.3 pence paid on August 14, 2026. The allotment of shares ranks equally with the existing shares, ensuring no change in the voting rights structure. Following this transaction, the total number of issued shares stands at 328,019,357.
The company has initiated the process for the shares to be admitted to the Official List of the Financial Conduct Authority and listed on the London Stock Exchange. This move is part of the company's ongoing efforts to maintain transparency and accessibility for its shareholders and potential investors.
The transaction underscores ProVen Growth and Income VCT plc's commitment to expanding its capital base, which is essential for supporting its investment strategy and growth initiatives. The company's strategy involves investing in a diversified portfolio of growth and income opportunities, leveraging its expertise to identify and support promising ventures.
This development is significant for investors and stakeholders, as it reflects the company's ability to raise additional capital through the issuance of new shares. The allotment also highlights the trust's ongoing engagement with its existing shareholders, ensuring that they are fairly compensated for their support and involvement.
As ProVen Growth and Income VCT plc continues to navigate the complexities of the venture capital landscape, this transaction marks a step forward in its strategic planning and operational efficiency. The company remains focused on delivering value to its shareholders and contributing to the broader ecosystem of venture capital investments in the UK.