Mobeus Income & Growth 2 VCT PLC Interim Management Statement to 30 June 2018 (4566A)
September 11 2018 - 9:18AM
UK Regulatory
TIDMMIG
RNS Number : 4566A
Mobeus Income & Growth 2 VCT PLC
11 September 2018
Mobeus Income & Growth 2 VCT plc
(the "Company")
INTERIM MANAGEMENT STATEMENT
For the quarter ended 30 June 2018
Mobeus Income & Growth 2 VCT plc presents an Interim
Management Statement for the quarter ended 30 June 2018. 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
2018 2018
Net assets attributable to shareholders GBP48,198,958 GBP47,598,197
Shares in issue 49,304,159 49,304,159
Net asset value (NAV) per share 97.76p 96.54p
Cumulative dividends paid to date
per share 78.00p 78.00p
Total return per share since inception
(NAV basis) 175.76p 174.54p
DIVIDENDS
There were no dividends paid during the period and so cumulative
dividends paid per share since the launch of the current share
class in December 2005 remained at 78.00 pence.
SHARE BUYBACKS
There were no share buybacks during the period.
INVESTMENT ACTIVITY
Investments during the period
On 31 May 2018, a further investment of GBP0.63 million was made
into My Tutor, a digital marketplace connecting school pupils
seeking private one-to-one tutoring with university students.
On 15 June 2018, GBP0.06 million was invested into Proactive
Investors, an existing portfolio company, and provider of media
services and investor conferences. This further investment was
previously agreed as part of the original investment in January
2018.
Investments following the period end
On 13 August 2018, GBP0.37 million was invested into Rotageek, a
provider of cloud-based enterprise software using data-driven
technologies to schedule staff effectively and fairly.
Realisations following the period end
After the period end, the Company realised the following
investments:
On 28 August 2018, the Company realised its investment in
Fullfield, receiving cash proceeds of GBP0.58 million. The
realisation contributed to a return of 1.20 times the original
investment cost, and an IRR of 5.0% over the seven years that this
investment was held.
On 7 September 2018, GBP0.20 million cash proceeds was received
from the sale of Hemmels Limited, a restorer of classic cars. The
sale represented a realised loss of GBP0.24 million on the original
investment cost over the six months this investment was held.
The impact of both the above realisations is immaterial to the
Net Asset Value per share reported above as at 30 June 2018.
Accordingly, both will be reflected in the Company's results for
the half year ending 30 September 2018.
LOAN STOCK AND PREFERENCE SHARE REPAYMENTS
On 30 April 2018, The Plastic Surgeon Holdings Limited (formerly
TPSFF Holdings Limited) repaid its remaining loan stock of GBP0.07
million.
On 25 May 2018, MPB Group Limited repaid its C loan stock of
GBP0.09 million.
Following the period end, on 31 July 2018, The Plastic Surgeon
Holdings Limited bought back GBP0.05 million of A preference shares
owned by the Company.
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 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
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