Interim Management Statement to 30 June 2021

RNS Number : 0369L

Mobeus Income & Growth 2 VCT PLC

08 September 2021

 

Mobeus Income & Growth 2 VCT plc

("the Company")

LEI:  213800LY62XLI1B4VX35

INTERIM MANAGEMENT STATEMENT

For the quarter ended 30 June 2021

Mobeus Income & Growth 2 VCT plc presents an Interim Management Statement for the quarter ended 30 June 2021. 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 2021 (unaudited)	At 31 March 2021 (audited)
Net assets attributable to shareholders	£79.50 million	£73.90 million
Shares in issue	73,230,275	73,230,275
Net asset value (NAV) per share	108.56 pence	100.91 pence
Cumulative dividends paid to date per share	116.00 pence	116.00 pence
Cumulative Total return (net asset value basis) per share since inception	224.56 pence	216.91 pence

The NAV per share has increased by 7.65 pence in the quarter (an increase of 7.6% upon the opening NAV per share). This positive performance is principally due to a continued rise in unrealised portfolio valuations.

DIVIDENDS

After the period end, on 30 July 2021, an Interim dividend of 6.00 pence per ordinary share in respect of the year ended 31 March 2021 was paid to all Shareholders whose names were on the Register on 9 July 2021. Payment of this dividend has reduced the NAV per share at 30 June 2021 of 108.56 pence to 102.56 pence and increased cumulative dividends paid to 122.00 pence per share.

SHARE BUY-BACKS

  After the period end, on 9 July 2021, the Company purchased 299,932 of its own ordinary shares at a price of 90.16 pence per share for cancellation.

Following this purchase, the Company has 72,930,343 ordinary shares of 1 penny each in issue.

INVESTMENT ACTIVITY DURING THE PERIOD

New investments during the period

On 22 June 2021, a new investment of £0.61 million was made into Legatics, a SaaS LegalTech software business.

On 25 June 2021, a new investment of £0.56 million was made into Pets' Kitchen (trading as Vet's Klinic), a veterinary clinics business and pet food provider.

Follow-on investments during the period

On 16 April 2021 and 18 May 2021, follow-on investments totalling £0.18 million were made into Caledonian Leisure, a provider of UK leisure and experience breaks.

On 26 May 2021, a follow-on investment of £0.61 million was made into Bella & Duke, a premium frozen raw dog food provider.

On 27 June 2021, a follow-on investment of £0.05 million was made into Spanish Restaurant Group Limited (trading as Tapas Revolution), a Spanish restaurant chain.

Loan repayments during the period

On 1 April 2021, a loan repayment of £0.19 million was received by the Company from Vian Marketing Limited (trading as Red Paddle).

On 28 May 2021, a loan repayment of £0.27 million was received by the Company from MPB Group Limited.

Other proceeds received during the period.

On 12 April 2021, the Company received further proceeds of £0.05 million in respect of Vectair Holdings Limited, an investment realised in a previous year.

INVESTMENT ACTIVITY AFTER THE PERIOD END

Follow-on investments after the period end

On 5 August 2021, a follow-on investment of £0.52 million was made into MyTutor, a digital tutoring marketplace.

Partial Realisation after the period-end

On 6 August 2021, the Company sold part of its original equity holding in MyTutor to a large strategic investor generating proceeds of £0.52 million and a £0.38 million realised gain for the Company over the original cost of the equity shares sold. In isolation, the impact of this partial sale is a 0.09 pence uplift in NAV per share compared to the 30 June 2021 NAV per share of 108.56 pence, referred to above.

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 :

Mobeus Equity Partners LLP, Company Secretary: 020 7024 7600.

 

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