Beringea targets £15m

As part of the offer, ProVen intends to return up to 25p per £1 invested of shareholders’ original investment after five years. The payments will come through a mixture of dividends and an offer to buy back shares at net asset value. This will “give investors the opportunity to realise part of their investment without having to sell shares at a discount on the secondary market”, Jeff Cornish, Beringea director said. Stuart Veale, Beringea managing director, said the C share money would be used to follow the same investment strategy as employed for existing ProVen funds; mainly ba...