Mobeus Income & Growth 4 VCT PLC Partial Realisation of Investment - MPB Group Ltd (3999U)
April 06 2021 - 03:00AM
UK Regulatory
TIDMMIG4
RNS Number : 3999U
Mobeus Income & Growth 4 VCT PLC
06 April 2021
Mobeus Income & Growth 4 VCT plc
(the "Company")
LEI: 213800IFNJ65R8AQW943
Partial Realisation of investment in MPB Group Limited
The Company is pleased to announce the partial disposal of its
equity investment in MPB Group Limited ("MPB") on 31 March 2021, as
part of a GBP49.8m primary and secondary funding round led by
Vitruvian Capital Partners LLP ("Vitruvian"), which includes
additional capital to fund MPB's further expansion. The Company has
received net proceeds of GBP1.26 million from the partial sale (c.
25%) of its equity investment and generated a 7.8x return on the
cost of the shares sold. These proceeds bring total proceeds
received to date to 91% of the VCT's total amount invested in
MPB.
In isolation, the impact of this partial equity sale on the
Company's NAV per share of 81.50 pence as at 31 December 2020 is an
increase of 0.49 pence per share. Shareholders should note that
this increase excludes any impact upon the value of the remaining
equity investment in MPB. The value of this retained equity holding
will be reflected within the calculation of the NAV per share at 31
March 2021, which the Board expects to announce in May 2021.
The Company emphasises that the increase in NAV per share over
81.50 pence per share from this partial realisation is in isolation
from other changes in the Company's balance sheet, including the
uplift of 5.53 pence already announced on 2 March 2021 in respect
of the admission to trading on AIM of Virgin Wines UK plc, the
further uplift of 1.96 pence announced on 31 March 2021 in respect
of the admission to trading on AIM of Parsley Box Group plc and any
other valuation and transaction movements in the Company's
investment portfolio, that may also have affected the NAV per share
at 31 December 2020.
The Board and Mobeus Equity Partners LLP are delighted with the
results of partnering with the management of MPB in growing this
business since investing originally in June 2016. We are pleased to
retain an equity investment and look forward to working with
Vitruvian and management to achieve both further growth and
development of the business and additional shareholder value.
For further information, please contact:
Mobeus Equity Partners LLP, Company Secretary 020 7024 7600
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