PHV Proven Health

 
TIDMNHF 
 
NOT  FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE 
UNITED  STATES, CANADA, AUSTRALIA, JAPAN OR  south africa OR any jurisdiction in 
which  the same  could be  unlawful. the  information contained  herein does not 
constitute an offer of securities for sale in any jurisdiction, including in the 
united states, CANADA, australia, japan OR south africa. 
 
PROVEN HEALTH VCT PLC 
 
16 MARCH 2012 
 
ISSUE  OF NEW ORDINARY SHARES IN  CONNECTION WITH THE RECONSTRUCTION AND WINDING 
UP OF LONGBOW GROWTH AND INCOME VCT PLC 
 
The Board of ProVen Health VCT plc (the "Company") refers to the circular and 
prospectus published by the Company on 10 February 2012 in connection with inter 
alia the participation of the Company in the proposed scheme for the 
reconstruction and winding up of Longbow Growth and Income VCT plc ("LGIV"). 
 
The Board is pleased to announce that, following the passing of the resolutions 
at the general meeting of Longbow Growth and Income VCT plc earlier today, the 
Company will acquire the net assets of LGIV in consideration for the issue of 
New Ordinary Shares to LGIV Shareholders. 
 
The number of New Ordinary Shares to be issued to LGIV Shareholders under the 
LGIV Scheme is based on the adjusted Net Asset Value of an Ordinary Share (the 
"FAV per Ordinary Share") and the adjusted Net Asset Value of a LGIV Share (the 
"FAV per LGIV Share"). The FAV per Ordinary Share and the FAV per LGIV Share 
were calculated as at 5.00 p.m. on 13 March 2012.  The FAV per Ordinary Share 
was 43.30 pence and the FAV per LGIV Share was 88.92 pence.  Accordingly, LGIV 
Shareholders will receive approximately 2.05 New Ordinary shares for every LGIV 
Share held by them and 2,150,872 New Ordinary Shares in aggregate will be issued 
to LGIV Shareholders. 
 
Applications have been made for the New Ordinary Shares to be issued pursuant to 
the LGIV Scheme to be admitted to the Official List (with a Premium Listing) and 
to the London Stock Exchange for the New Ordinary Shares to be admitted to 
trading on the Main Market.  It is expected that Admission will occur and 
dealings will commence in the New Ordinary Shares to be issued pursuant to the 
LGIV Scheme at 8.00 a.m. on 19 March 2012. 
 
Total voting rights 
 
Each Ordinary Share has one voting right.  Following the issue of New Ordinary 
Shares pursuant to the LGIV Scheme, the Company will have 21,406,157 Ordinary 
Shares in issue.  No Ordinary Shares are held by the Company in treasury.  The 
total number of voting rights in the Company will therefore be 21,406,157 and 
this figure may be used by Ordinary Shareholders as the denominator for the 
calculations by which they will determine if they are required to notify their 
interest in, or a change to their interest in, the Company under the Disclosure 
and Transparency Rules. 
 
Notification of transaction by a Director 
 
Peter Arthur, a Director, held 25,200 LGIV Shares and will receive 51,750 New 
Ordinary Shares pursuant to the LGIV Scheme at an issue price of 43.30 pence per 
share.  Following the issue of these New Ordinary Shares, Peter Arthur will hold 
71,257 Ordinary Shares carrying 0.33 per cent. of the total voting rights.  This 
information is disclosed in accordance with the requirements of Disclosure and 
Transparency Rule 3.1.4R. 
 
Definitions 
 
Terms defined in the circular published by the Company on 10 February 2012 have 
the same meanings in this announcement unless the context requires otherwise. 
 
Further information 
 
For further information please contact. 
 
 Steven Tuckley      Beringea LLP         020 7845 7820 
 
 Douglas Armstrong   Dickson Minto W.S.   020 7649 6823 
 
 
 Notes 
 
This announcement is for information purposes only and does not purport to be 
full or complete and any decision regarding the Proposals should be made only on 
the basis of the Circular and the Prospectus. 
 
This  announcement does  not constitute  or form  part of  any offer to issue or 
sell,  or any solicitation of any offer to subscribe or purchase, any investment 
in  any jurisdiction, nor  shall it (or  the fact of  its distribution) form the 
basis of, or be relied on in connection with, any contract therefor. 
The  issue and  the distribution  of this  announcement, the Circular and/or the 
Prospectus  in certain jurisdictions  may be restricted  by law and persons into 
whose   possession   any   document   or other   information  referred  to  this 
announcement,  the Circular and/or the Prospectus comes should inform themselves 
about  and  observe  any  such  restriction.   Any  failure to comply with these 
restrictions  may  constitute  a  violation  of  the securities laws of any such 
jurisdiction. 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Proven Health VCT Plc via Thomson Reuters ONE 
 
[HUG#1594741] 
 

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