REG - Mobeus Inc&Gwth - Interim Management Statement

Mobeus Income & Growth VCTAnnouncement

23/05/2023 07:00

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RNS Number : 1791A  Mobeus Income & Growth VCT PLC  23 May 2023

Mobeus Income & Growth VCT plc

("the Company")

LEI:  213800HKOSEVWS7YPH79

 

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 March 2023

 

Mobeus Income & Growth VCT plc presents an Interim Management Statement
for the quarter ended 31 March 2023. 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 31 March 2023  At 31 December 2022

                                                                                           (unaudited)       (audited)
 Net assets attributable to shareholders                                                   £107.76 million   £100.32 million
 Shares in issue                                                                           168,698,389       156,718,602
 Net asset value (NAV) per share                                                           63.88 pence       64.01 pence
 Cumulative dividends paid                                                                 156.80 pence      156.80 pence
 Cumulative Total return (net asset value basis) per share since inception                 220.68 pence      220.81 pence

 

The NAV per share has decreased by 0.13 pence in the quarter (a decrease of
0.2% from the opening NAV per share).

 

OFFER FOR SUBSCRIPTION

 

On 6 February 2023, the Company allotted and issued 11,979,787 new ordinary
shares, raising net funds (after costs) of £7.67 million. Following this
allotment, after receiving applications for the full amount sought, the Offers
for Subscription across all four Mobeus VCTs launched on 5 October 2022 were
closed.

 

INVESTMENT ACTIVITY DURING THE PERIOD

 

New Investment during the period

On 7 March 2023, the Company completed a new investment of £0.30 million into
Connect Earth Limited, an environmental data provider.

 

On 22 March 2023, the Company completed a new investment of £0.59 million
into Cognassist Limited, an education and neuro-inclusion solutions provider.

 

Realisations during the period

In March 2023, the Company achieved a full exit of Tharstern Group Limited
generating proceeds of £2.70 million. Over the life of this investment, the
Company has received £3.79 million which equates to a multiple on cost of
2.6x and an IRR of 15%.

 

INVESTMENT ACTIVITY AFTER THE PERIOD END

 

New investment after the period end

On 3 May 2023, the Company completed a new investment of £0.55 million into
Dayrize B.V., a sustainability impact assessment tool provider.

 

SHARE BUYBACK AFTER THE PERIOD END

 

On 18 April 2023, the Company purchased 1,451,085 of its own ordinary
shares at a price of 60.81 pence per share.

 

All shares bought back by the Company were subsequently cancelled.

 

DIVIDEND DECLARED AFTER THE PERIOD END

 

On 13 April 2023, an interim dividend of 5.00 pence per share in respect of
the year ending 31 December 2023 was declared and is payable on 26 May 2023 to
all Shareholders whose names were on the register on 21 April 2023. Payment of
this interim dividend will reduce NAV per share (shown above) to 58.88 pence
and increase cumulative dividends paid to 161.80 pence per share.

 

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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