REG - Mobeus Inc&Gwth 2 - Interim Management Statement

Mobeus Income & Growth 2 VCTAnnouncement

21/09/2022 10:00

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RNS Number : 1414A  Mobeus Income & Growth 2 VCT PLC  21 September 2022

Mobeus Income & Growth 2 VCT plc

("the Company")

LEI:  213800LY62XLI1B4VX35

 

INTERIM MANAGEMENT STATEMENT

For the quarter ended 30 June 2022

 

Mobeus Income & Growth 2 VCT plc presents an Interim Management Statement
for the quarter ended 30 June 2022. 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 2022  At 31 March 2022

                                                                                           (unaudited)      (audited)
 Net assets attributable to shareholders                                                   £71,769,792      £77,505,982
 Shares in issue                                                                           80,426,321       80,426,321
 Net asset value (NAV) per share                                                           89.24 pence      96.37 pence
 Cumulative dividends paid                                                                 134.00 pence     134.00 pence
 Cumulative Total return (net asset value basis) per share since inception                 223.24 pence     230.37 pence

The NAV per share has decreased by 7.13 pence in the quarter (a decrease of
7.4% upon the opening NAV per share). This decrease is principally due to a
fall in unrealised portfolio valuations.

 

INVESTMENT ACTIVITY DURING THE PERIOD

 

New investments during the period

On 5 May 2022, a new investment of £0.43 million was made into Lads Store
Limited (trading as Bidnamic), a marketing technology business.

 

Follow-on investments during the period

On 6 April 2022, a follow-on investment of £0.12 million was made into
Northern Bloc Ice Cream Limited, a dairy and allergen-free ice cream producer.

 

On 23 May 2022 a follow-on investment of £0.27 million, was made into Muller
EV Limited (trading as Andersen EV), a provider of premium electric vehicle
chargers.

 

On 14 June 2022 a follow-on investment of £0.18 million, was made into Rota
Geek Limited, a provider of workforce management software.

 

Realisation during the period

On 9 June 2022, the Company sold its investment in Media Business Insight
Holdings Limited for £2.77 million. Total proceeds received to date over the
seven and a half year life of the investment were £4.47 million compared to
an original investment cost of £2.01 million, which is a multiple on cost of
2.2x and an IRR of 13.7%.

 

INTENTION TO FUNDRAISE 2022/2023

The Board announced on 15 August 2022 its intention to launch joint offers for
subscription for the current tax year with the other Mobeus VCTs.  A
prospectus containing the full details and terms of the offers will be
published in due course and announced to the London Stock Exchange.

 

INVESTMENT ACTIVITY AFTER THE PERIOD END

 

New investments after the period end

On 9 September 2022, a new investment of £0.42 million was made into
FocalPoint Positioning Limited, a navigation  and positioning technology
company.

 

On 12 September 2022, a new investment of £0.37 million was made into Orri
Limited, a provider of specialist eating disorder treatments.

 

Follow-on investments after the period end

On 5 July 2022, a follow on investment of £0.59 million was made into
Vivacity Labs Limited, an AI and urban traffic control business.

 

On 23 August 2022, a follow on investment of £0.28 million was made into
Bleach London Holdings Limited, a hair colourants brand.

 

DIVIDENDS PAYABLE AFTER THE PERIOD END

The Board has today declared an interim dividend of 6.00 pence per share in
respect of the year ending 31 March 2023 to be paid on 7 November 2022 to
those shareholders on the Register of Members on 30 September 2022.

 

Payment of this dividend will reduce NAV per share and increase cumulative
dividends paid (shown above) by a corresponding amount.

 

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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