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 Ltd
Beringea Ltd. is an international private equity and investment banking firm with offices in London, Detroit, Los Angeles and Shanghai. Beringea is the manager of funds including Proven VCT, ProVen Growth & Income VCT, and Global Rights Fund II, amongst others.
Beringea launched its first VCT in 1996, making it one of the most experienced VCT managers in the UK. ProVen VCT and ProVen Growth & Income are the highest performing VCTs of their launch years, according to www.taxefficientreview.com. In 2006 the Association of Investment Companies named ProVen Growth & Income as its highest performing VCT member.
www.beringea.com / www.provenvcts.com
Beringea Ltd is authorised and regulated by the Financial Services Authority
FSA FRN: 138888