Mobeus Income & Growth 2 VCT PLC Interim Management Statement (4503E)
09 February 2018 - 9:35PM
UK Regulatory
TIDMMIG
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 At 30 September
2017 2017
Net assets attributable GBP50,744,310 GBP38,831,906
to shareholders
Shares in issue 48,051,015 37,609,938
Net asset value (NAV) 105.61 pence 103.25 pence
per share
Cumulative dividends 69.00 pence 69.00 pence
paid to date per share
since inception
Total return per share 174.61pence 172.25 pence
since inception (NAV
basis)
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 GBP15 million and
so, being fully subscribed, the Offer was subsequently closed to
further applications.
INVESTMENT ACTIVITY
New Investments
On 21 November 2017, a further GBP0.05 million was invested in
BookingTek Limited
On 5 December 2017, a further loan of GBP0.09 million was
invested in MPB Group Limited.
After the quarter end, on 18 January 2018, GBP0.29 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 GBP1.96 million, while
up to a further GBP0.07 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 GBP0.84 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 GBP0.08 million.
After the quarter end, on 1 February 2018, TPSFF Holdings
Limited made loan repayments totalling GBP0.07 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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