REG - Gresham House I&G 2 - Interim Management Statement - Correction

Gresham House Income & Growth 2 VctAnnouncement

11/09/2025 13:00

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RNS Number : 0058Z  Gresham House Income & Growth 2VCT   11 September 2025

GRESHAM HOUSE INCOME & GROWTH 2 VCT PLC

("the Company")

LEI:  213800HKOSEVWS7YPH79

 

Correction of RNS No: 8396Y on 10 September 2025 of the Company's interim
financial statements period (from 1 October 2024 to 30 June 2025) and shares
in issue at 31 March 2025 and 30 June 2025. The Company's Net asset value per
share figures shown below are unchanged from that previously announced on 10
September 2025.

 

INTERIM MANAGEMENT STATEMENT

For the quarter ended 30 June 2025

 

Gresham House Income & Growth 2 VCT plc (formerly Mobeus Income &
Growth VCT plc) presents an Interim Management Statement for the quarter ended
30 June 2025. The statement also includes relevant financial information
between the end of the period and the date of this statement.

 

NET ASSET VALUE AND TOTAL RETURN PER SHARE

                                                                                           At 30 June 2025   At 31 March 2025

                                                                                           (unaudited)       (unaudited)
 Net assets attributable to shareholders                                                   £179.18 million   £182.47 million
 Shares in issue                                                                           333,080,671       332,556,994
 Net asset value (NAV) per share                                                           53.79 p           54.87 p
 Cumulative dividends paid                                                                 172.30 p          170.30 p
 Cumulative Total return (net asset value basis) per share since inception                 226.09 p          225.17 p

 

The NAV per share has decreased by 1.08 pence in the quarter. This decrease
was principally due to a dividend payment of 2.00 pence per share paid on 11
April 2025 which was partially offset by an increase in the unrealised
valuation of the portfolio. Adjusting for the dividend payment, on a total
return basis, the NAV per share increased by 0.92 pence, or 1.7% during the
quarter.

 

INVESTMENT ACTIVITY DURING THE PERIOD

 

New Investments during the period

 

On 10 April 2025, a new investment of £0.54 million was made into Penfold
Technology Limited, a pension platform.

 

On 29 May 2025, a new investment of £2.10 million was made into Nu Quantum
Limited, a developer of quantum networking hardware.

 

On 30 May 2025, a new investment of £1.08 million was made into Spinners
Group Limited, a multi venue competitive socialising company.

 

On 13 June 2025, a new investment of £1.08 million was made into Modo25
Limited (trading as AskBosco/Modo25), a digital advertising agency and
AI-powered software platform.

 

Further investments during the period

 

On 20 June 2025, the Company completed a follow on investment of £0.10
million into Orri Limited, an intensive day care provider for adults with
eating disorders.

 

Realisations during the period

 

On 6 May 2025, the Company sold its investment in SEC Group (trading as SEC
Life Sciences) to management for a nominal sum. Total proceeds received over
the life of the investment are £2.87 million compared to an original
investment cost of £2.56 million, representing a multiple on cost of 1.1x and
an IRR of 2.0%.

 

On 28 May 2025, the Company sold its investment in MyTutorweb (trading as
MyTutor) to IXL. The Company received £2.28 million from the sale completion
(including escrow proceeds). Total proceeds received over the life of the
investment are £3.63 million compared to an original investment cost of
£6.12 million, representing a multiple on cost of 0.6x.

 

On 30 May 2025, the Company sold its investment in Rotageek to Elmo Software.
The Company received £4.03 million from the sale. Total proceeds received to
date over the life of the investment are £4.14 million compared to an
original investment cost of £2.70 million, representing a multiple on cost of
1.5x and an IRR of 9.1%.

 

CHANGE OF NAME

 

On 18 June 2025 the Company changed its name from Mobeus Income & Growth
VCT  plc (LSE: MIX) to Gresham House Income & Growth 2 VCT plc (LSE:
GHV2). The change of name and the change of Tradable Instrument Display
Mnemonic (TIDM) from MIX to GHV2 took effect on the Main Market of the London
Stock Exchange from 19 June 2025.

 

DIVIDENDS PAID DURING THE PERIOD

 

On 5 March 2025, an interim dividend of 2.00 pence per share in respect of the
year ending 30 September 2025 was declared. This dividend was paid on 11 April
2025 to all Shareholders whose names were on the register on 14 March 2025.

DIVIDEND INVESTMENT SCHEME ("DIS")

Following the dividend paid in April as detailed above, the Company
subsequently allotted 523,677 new Ordinary Shares of 1.00 pence each under the
Company's DIS at a price of 52.43 pence per share.

CANCELLATION OF SHARE PREMIUM RESERVE AND CAPITAL REDEMPTION RESERVE AND
PUBLICATION OF INTERIM FINANCIAL STATEMENTS

 

The Board of Gresham House Income & Growth 2 VCT plc announces a set of
unaudited interim financial statements for the period from 1 October 2024 to
30 June 2025 (the "Interim Financial Statements"). This is following the
successful application to the High Court to cancel the Company's Share Premium
reserve and Capital Redemption reserve which was effected on 20 May 2025.
Filing of such Interim Financial Statements will increase the level of
distributable reserves available for utilisation by the Company.

 

INVESTMENT ACTIVITY AFTER THE PERIOD END

 

Further investments after the period end

 

On 28 July 2025, the Company completed a follow on investment of £0.16
million into Gentianes Solutions Limited (trading as Much Better Adventures),
an Adventure Travel Marketplace.

 

On 20 August 2025, the Company completed a follow on investment of £0.26
million into Orri Limited, an intensive day care provider for adults with
eating disorders.

 

On 29 August 2025, the Company completed a follow on investment of £0.54
million into SciLeads Limited, a data and lead generation company operating
within life science verticals.

 

SHARE BUYBACK AFTER THE PERIOD END

 

On 3 July 2025, the Company purchased 2,785,707 of its own ordinary shares at
a price of 50.23 pence per share.

 

All shares bought back by the Company were subsequently cancelled.

 

DIVIDEND DECLARED AFTER THE PERIOD END

 

On 10 September 2025, a second interim dividend of 2.00 pence per share in
respect of the year ending 30 September 2025 was declared and will be paid on
30 October 2025 to all Shareholders whose names were on the register on 19
September 2025. Payment of this interim dividend will reduce NAV per share
(shown above) to 51.79 pence and increase cumulative dividends paid to 174.30
pence per share.

 

Shareholders can now register for the Dividend Investment Scheme ("DIS") which
will allow Shareholders to receive additional shares in the Company by
re-investing their total dividend payment into new shares at the latest
published NAV.

 

See the Company's website
https://greshamhouse.com/gresham-house-income-growth-2-vct-plc/
(https://greshamhouse.com/gresham-house-income-growth-2-vct-plc/) for further
details.

 

The dividend declared above is eligible for the DIS. Elections to join the
DIS must be received by City Partnership by 16 October 2025.

 

 

Please note that all of the above information is unaudited.

 

Other than as described above, there were no material events during the period
and to the date of this announcement.

 

For further information, please contact:

Gresham House Asset Management Limited

Company Secretary

020 7382 0999

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