REG - Mobeus Inc&Gwth - Interim Management Statement

Mobeus Income & Growth VCTAnnouncement

20/05/2024 07:00

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RNS Number : 3952O  Mobeus Income & Growth VCT PLC  20 May 2024

MOBEUS INCOME & GROWTH VCT PLC

("the Company")

LEI:  213800HKOSEVWS7YPH79

 

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 March 2024

 

Mobeus Income & Growth VCT plc presents an Interim Management Statement
for the quarter ended 31 March 2024. 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 2024  At 31 December 2023

                                                                                           (unaudited)       (audited)
 Net assets attributable to shareholders                                                   £97.00 million    £95.99 million
 Shares in issue                                                                           164,285,230       164,285,230
 Net asset value (NAV) per share                                                           59.04 pence       58.43 pence
 Cumulative dividends paid                                                                 166.30 pence      166.30 pence
 Cumulative Total return (net asset value basis) per share since inception                 225.34 pence      224.73 pence

 

The NAV per share has increased by 0.61 pence in the quarter (an increase of
1.0% from the NAV per share at 31 December 2023).

 

INVESTMENT ACTIVITY DURING THE PERIOD

 

New Investment during the period

On 19 March 2024, the Company completed a new investment of £0.71 million
into SciLeads Limited, a data-intelligence platform within the life science
sector.

 

Further Investments during the period

On 10 January 2024, a follow on investment of £0.55 million was made into
MyTutorWeb Limited (trading as MyTutor), a digital marketplace for online
tutoring.

 

On 25 March 2024, a follow on loan investment of £0.08 million was made into
Orri Limited, specialists in eating disorder support.

 

Realisations during the period

 

On 15 February 2024, proceeds of £3.49 million were received in respect of
the sale of Master Removers Group 2019 Limited (trading as Anthony Ward
Thomas, Bishopsgate and Aussie Man & Van). These proceeds contributed to a
multiple on cost of 3.3x over the life of this investment. Further proceeds
may be receivable in due course.

 

 

INVESTMENT ACTIVITY AFTER THE PERIOD END

 

Further Investments after the period end

On 3 May 2024, the Company completed a follow on investment of £1.79 million
into Data Discovery Solutions Limited (trading as ActiveNav), a provider of
data discovery solutions for compliance and information governance.

 

SHARE BUYBACK AFTER THE PERIOD END

On 25 April 2024, the Company purchased 1,417,646 of its own ordinary
shares at a price of 55.51 pence per share.

 

All shares bought back by the Company were subsequently cancelled.

 

DIVIDEND DECLARED AFTER THE PERIOD END

On 24 April 2024, an interim dividend of 4.00 pence per share in respect of
the year ending 31 December 2024 was declared and will be paid on 31 May 2024
to all Shareholders whose names were on the register on 3 May 2024.  Payment
of this interim dividend will reduce NAV per share (shown above) to 55.04
pence and increase cumulative dividends paid to 170.30 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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