Interim Management Statement

RNS Number : 4503E

Mobeus Income & Growth 2 VCT PLC

09 February 2018

 

Mobeus Income & Growth 2 VCT plc

(the "Company")

                                              INTERIM MANAGEMENT STATEMENT      

For the quarter ended 31 December 2017

Mobeus Income & Growth 2 VCT plc presents an Interim Management Statement for the quarter ended 31 December 2017.  The statement also includes relevant financial information between the end of the quarter and the date of this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

	At 31 December 2017	At 30 September 2017
Net assets attributable to shareholders	£50,744,310	£38,831,906
Shares in issue	48,051,015	37,609,938
Net asset value (NAV) per share	105.61 pence	103.25 pence
Cumulative dividends paid to date per share since inception	69.00 pence	69.00 pence
Total return per share since inception (NAV basis)	174.61pence	172.25 pence

DIVIDENDS

No dividends were paid during the quarter.

An interim dividend of 9.00 pence per share for the year ended 31 March 2018 was paid on 22 January 2018.  This dividend fulfils the Company's annual dividend target of paying a dividend in respect of each financial year of not less than 5.00 pence per share.  This payment reduced the NAV per share above to 96.61 pence and increases cumulative dividends paid per share since inception of the current share class to 78.00 pence.

SHARE BUY-BACKS

On 20 December 2017, the Company bought back 279,297 of its ordinary shares at a price of 92.75 pence per share.

ISSUES OF EQUITY

As part of the Offer for Subscription ("Offer") launched on 6 September 2017, a total of 12,937,600 new ordinary shares were issued during the quarter at offer prices ranging between 103.17 and 110.99 pence per share.

Following the quarter end, on 24 January 2018, a further 1,361,600 new ordinary shares were issued under the Offer at prices ranging between 95.21 and 101.38 pence per share. As a result of this allotment, and previous allotments, the Company had received and allotted applications totalling approximately £15 million and so, being fully subscribed, the Offer was subsequently closed to further applications.

INVESTMENT ACTIVITY

New Investments

On 21 November 2017, a further £0.05 million was invested in BookingTek Limited

On 5 December 2017, a further loan of £0.09 million was invested in MPB Group Limited.

After the quarter end, on 18 January 2018, £0.29 million was invested into Proactive Investors, a provider of investor media services.

Realisations

On 19 December 2017, the Company realised its investment in Gro-Group Holdings Limited for proceeds of £1.96 million, while up to a further £0.07 million in deferred consideration is potentially payable over the next 12 months.  Excluding potential deferred consideration, on the completion date, this transaction delivered the Company a realised gain over cost of £0.84 million, or 1.74 pence per share. The proceeds for this realisation were received on 2 January 2018, after the quarter end.

Loan Stock Repayments

On 1 and 2 November 2017, TPSFF Holdings Limited made loan stock repayments totalling £0.08 million.

After the quarter end, on 1 February 2018, TPSFF Holdings Limited made loan repayments totalling £0.07 million.

Please note that all of the information above is unaudited.

Other than as described above, there were no material events during the quarter and to the date of this announcement.

For further information, please contact:

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

 

END

 

 

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