Shares of a VCT can be bought and sold on the London Stock Exchange via a stockbroker. There is, however, likely to be a very limited secondary market for shares. Investors are reminded that there may be tax implications in respect to selling VCT shares and are therefore advised to consult their independent financial adviser if they have any queries.
Shareholders considering selling their shares, or trading in the secondary market, should contact the Company's Corporate Broker, Panmure Gordon (UK) Limited.
Panmure Gordon Ltd is able to provide details of close periods (when the company is prohibited from buying shares) and details of the price at which the VCT has bought in shares. They can be contacted as follows:
Chris Lloyd: 0207 886 2716
Paul Nolan: 0207 886 2717
Buy Back Policy
ProVen VCT has a policy of buying back shares at a discount of 5% to the last published net asset value adjusted for any dividends subsequently paid, subject to there being sufficient liquidity and the respective VCT not being in a "close period" (i.e. in the period prior to the announcement of the full year and half year results).
As the VCTs are unable to buy back shares directly from Shareholders, a stockbroker will need to be appointed to sell the shares.
Please call Beringea for further information on 020 7845 7820.
IMPORTANT NOTE: Selling shares less than 5 years from subscription will result in the shareholder having to repay the initial tax relief.