Interim Management Statement

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 (unaudited)	At 30 June 2022 (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  

 

END

 

 

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