Mobeus Income & Growth 2 VCT PLC Interim Management Statement (9750J)
September 15 2016 - 8:35AM
UK Regulatory
TIDMMIG
RNS Number : 9750J
Mobeus Income & Growth 2 VCT PLC
15 September 2016
Mobeus Income & Growth 2 VCT plc
(the "Company")
INTERIM MANAGEMENT STATEMENT
For the quarter ended 30 June 2016
Mobeus Income & Growth 2 VCT plc presents an Interim
Management Statement for the quarter ended 30 June 2016. 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 At 31 March
2016 2016
Net assets attributable to GBP42,687,889 GBP43,141,012
shareholders
Shares in issue 35,986,544 36,068,463
Net asset value (NAV) per
share 118.62p 119.61p
Cumulative dividends paid
to date per share 47.00p 47.00p
Total return per share since
inception (NAV basis) 165.62p 166.61p
DIVIDENDS
No dividends were paid during the quarter. However, following
the quarter under review, on 8 August 2016, the Company paid a
special interim dividend of 5.00 pence per share in respect of the
financial year ending 31 March 2017, bringing the cumulative
dividends paid per share since the launch of the current share
class to 52.00 pence.
SHARE BUY-BACKS
On 29 June 2016, 81,919 Ordinary Shares of 1p each were
repurchased at 106.00 pence per share.
INVESTMENT ACTIVITY
New Investments
On 15 June 2016, GBP0.37 million was invested into MPB Group
Limited, Europe's leading online marketplace (www.mpb.com) for used
photo and video equipment.
Realisations
There were no realisations during the period. After the period
end, GBP0.02 million was received from Newquay Helicopters (2013)
as a third interim distribution resulting from the members'
voluntary liquidation of the Company.
Loan Stock Repayments
On 29 April 2016, a loan repayment of GBP0.04 million including
premium was received from Jablite Holdings Limited.
ANNUAL GENERAL MEETING
The Company's Annual General Meeting ("AGM") was held today at
33 St James's Square, London SW1Y 4JS. All resolutions were passed
at the meeting.
UPDATE ON VCT LEGISLATION ("new VCT Rules")
As noted in the Company's recent Annual Report, the new VCT
Rules included measures that will change significantly the size and
type of investments the Company can make. The Company is no longer
permitted to fund MBO investments, but has changed focus to provide
growth and development capital to younger, earlier stage companies.
Further HMRC guidance on the detailed application of the new VCT
Rules has been published recently, which the Investment Adviser is
currently reviewing.
NEW INVESTMENT POLICY
One of the resolutions shareholders approved at the AGM was to
amend the Company's Investment Policy. The new Policy was prepared
in response to the new VCT Rules and enables the Company to
continue making investments that comply with them.
Please note that all of the information above 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:
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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