8th Aug 2006 09:07
Proven VCT PLC08 August 2006 PROVEN VCT PLC ("ProVen")8 August 2006 Proven VCT portfolio company, Mergermarket Limited, has today signed aconditional sale and purchase agreement to sell 100% of its issued share capitalto The Financial Times Group, a subsidiary of Pearson plc. The terms agreed with The Financial Times Group value ProVen's investment atapproximately £6.0 million more than the valuation of Mergermarket included inthe accounts of ProVen for the year to 28 February 2006. This equates to anincrease of c. 24.8p per ProVen share, based on the number of shares in issue at28 February 2006. The revised pro-forma net asset value per ProVen share at 28February 2006, after adjusting only for the Mergermarket revaluation, is c.136.1p and c. 132.6p per ProVen share after additionally adjusting for thedividend paid on 14 July 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Proven VctPearson