REG - Mobeus Inc&Gwth 2 - Realisation of investment - Media Business Insight

Mobeus Income & Growth 2 VCTAnnouncement

13/06/2022 10:00

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RNS Number : 6161O  Mobeus Income & Growth 2 VCT PLC  13 June 2022

Mobeus Income & Growth 2 VCT plc

(the "Company")

 

LEI:  213800LY62XLI1B4VX35

 

 

Realisation of investment in Media Business Insight Holdings Limited

The Company is pleased to announce the sale of its investment in Media
Business Insight Holdings Limited ("MBI") on 9 June 2022. The Company has
received £2.91 million in cash from the sale, generating a realised gain over
cost over the life of the investment of £2.44 million, being the equivalent
of 3.03 pence per share. Escrow retention amounts of up to £0.03 million may
be receivable in due course.

In isolation, the impact of this sale on the Company's latest announced NAV
per share of 91.98 pence at 28 February 2022, would be an increase of 0.93
pence per share. The Company emphasises that the increase in NAV per share
from this realisation is in isolation from other changes in the Company's
balance sheet, including valuation and other transaction movements in the
Company's investment portfolio, that may also have affected the NAV per share
at 28 February 2022.

To date, cash proceeds have been received over the life of the investment of
£4.45 million, against an original cost of £2.01 million. This represents a
return to date for the Company of 2.2 times the original investment cost and
an IRR of 13.6% in the 7 years that this investment was held.

The Company expects to announce an updated NAV per share as at 31 March 2022
as part of its 2022 Annual Report, to be published later in June.

For further information, please contact:

Gresham House Asset Management Limited,

Company Secretary

 

+44 (0)20 7382 0999

 

 

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