PROVEN Declares a Rights Issue

Proven Investments Limited has advised that at a meeting of the Board of Directors held on February 9, 2015, the Board approved the issuance of: (a) A Renounceable Rights Issue of 1 new ordinary share of US$0.01 each in the capital of the Company for every block of 3 ordinary shares held at a subscription price of US$0.16/JA$18.50 per share; and (b) A further conditional offer of a maximum of 122,896,618 additional new ordinary shares of US$0.01 each in the capital of the Company at a subscription price of US$0.16/JA$18.50 per share. The record date for the Rights Issue has been set for March 20, 2015.