REG - Mobeus Inc&Gwth - Interim Management Statement

Mobeus Income & Growth VCTAnnouncement

09/11/2022 15:00

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RNS Number : 8763F  Mobeus Income & Growth VCT PLC  09 November 2022

 

Mobeus Income & Growth VCT plc

("the Company")

LEI:  213800HKOSEVWS7YPH79

 

INTERIM MANAGEMENT STATEMENT

For the quarter ended 30 September 2022

 

Mobeus Income & Growth VCT plc presents an Interim Management Statement
for the quarter ended 30 September 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 September 2022  At 30 June 2022

                                                                                           (unaudited)           (unaudited)
 Net assets attributable to shareholders                                                   £93.36 million        £103.56 million
 Shares in issue                                                                           136,965,856           137,080,943
 Net asset value (NAV) per share                                                           68.16 pence           75.55 pence
 Cumulative dividends paid                                                                 152.80 pence          148.80 pence
 Cumulative Total return (net asset value basis) per share since inception                 220.96 pence          224.35 pence

 

The NAV per share has decreased by 7.39 pence in the quarter (a decrease of
9.8% since 30 June 2022). This decrease arises both from the 4.00 pence per
share dividend paid in July 2022 as well as a fall in unrealised valuations.
On a total return basis, after adding back the dividend of 4.00 pence per
share, the decrease is 4.5%.

 

OFFER FOR SUBSCRIPTION

 

On 17 October 2022, the Company took part in a Joint Offer for Subscription
("Offer") alongside the other Mobeus VCTs seeking to raise an initial amount
of £14 million for the Company with an over-allotment facility of £8 million
available. Following strong demand for the Offer, the Directors approved the
utilisation of the over-allotment facility later on 17 October 2022. As stated
in the Prospectus, the first allotment under the Offer in relation to
applications accepted for the initial amount is expected on or around 16
November 2022. Accepted applications by the Company for the over-allotment
facility will be allotted in January 2023

 

DIVIDEND PAID IN THE PERIOD

 

On 15 July 2022, an interim dividend of 4.00 pence per share in respect of the
year ending 31 December 2022 was paid to all Shareholders whose names were on
the register on 10 June 2022.

 

A second interim dividend of 4.00 pence per share in respect of the year
ending 31 December 2022 was declared on 5 September 2022. This was paid on 7
November 2022 to those Shareholders on the Register of Members on 16 September
2022. Payment of this second interim dividend has reduced NAV per share (shown
above) to 64.16 pence and increased cumulative dividends paid to 156.80 pence
per share.

 

INVESTMENT ACTIVITY DURING THE PERIOD

 

New Investment during the period

On 9 September 2022, the Company completed a new investment of £0.60 million
into Focalpoint Positioning Limited, a navigation and positioning technology
company.

 

On 12 September 2022, a new investment of £0.53 million was made into Orri
Limited, a provider of specialist eating disorder treatments.

 

Follow-on investments during the period

On 5 July 2022, a follow on investment of £0.78 million was made into
Vivacity Labs Limited, an AI and urban traffic control business.

 

On 23 August 2022, a follow on investment of £0.43 million was made into
Bleach London Holdings Limited, a hair colourants brand.

 

Loan repayment and other proceeds during the period

The Company received deferred consideration of £0.05 million from Media
Business Insight Holdings Limited, an investment realised in a prior quarter.

 

Share buy-backs

On 23 September 2022, the Company purchased 115,087 of its own ordinary
shares at a price of 64.17 pence per share.

 

All shares bought back by the Company were subsequently cancelled.

 

 

INVESTMENT ACTIVITY AFTER THE PERIOD END

 

On 21 October 2022, a loan repayment (including premium) from Jablite Holdings
Limited of £0.07 million was received.

 

Share buy-backs

 

After the period end, on 10 October 2022, the Company purchased 264,268 of
its own ordinary shares at a price of 64.17 pence per share.

 

All shares bought back by the Company were subsequently cancelled.

 

 

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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