Mobeus Income & Growth 2 VCT PLC Realisation of Investment (2483W)
17 August 2020 - 4:30PM
UK Regulatory
TIDMMIG
RNS Number : 2483W
Mobeus Income & Growth 2 VCT PLC
17 August 2020
Mobeus Income & Growth 2 VCT plc
(the "Company")
LEI: 213800LY62XLI1B4VX35
Realisation of investment in Tovey Management Limited (trading
as Access IS)
The Company is pleased to announce the sale of its investment in
Tovey Management Limited ("Access IS") to ASSA ABLOY AB. The
Company received GBP4.21 million in cash from the sale and
generated a realised gain over cost over the life of the investment
of GBP2.98 million, being the equivalent of 4.06 pence per
share.
In isolation, the impact of this sale on the Company's latest
announced NAV per share (adjusted for subsequent dividends) of
65.99 pence at 31 March 2020, would be an increase of 1.91 pence
per share. The Company emphasises that the increase in NAV per
share from this realisation is in isolation from other changes in
the Company's balance sheet, including valuation movements in the
Company's investment portfolio, that may also have affected the NAV
per share at 30 June 2020. This NAV will be released on or around 9
September 2020.
All four Mobeus-advised VCTs realised their investment in Access
IS. Total cash proceeds received by the four Mobeus-advised VCTs
over the life of their investment in Access IS are GBP27.81
million, against an original investment cost of GBP11.00 million.
This represents a return of 2.53 times the original investment cost
and an IRR of 23.4% for each VCT in the five years that this
investment was held.
For further information, please contact:
Mobeus Equity Partners LLP, Company Secretary 020 7024 7600
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DISKKQBQOBKDPFD
(END) Dow Jones Newswires
August 17, 2020 02:30 ET (06:30 GMT)
Mobeus Income & Growth 2... (LSE:MIG)
Historical Stock Chart
From Apr 2024 to May 2024
Mobeus Income & Growth 2... (LSE:MIG)
Historical Stock Chart
From May 2023 to May 2024