Mobeus Income & Growth VCT PLC Interim Management Statement (7767E)
May 10 2017 - 10:23AM
UK Regulatory
TIDMMIX
RNS Number : 7767E
Mobeus Income & Growth VCT PLC
10 May 2017
Mobeus Income & Growth VCT plc ("the Company")
Legal Entity Identifier (LEI): 213800HKOSEVWS7YPH79
INTERIM MANAGEMENT STATEMENT
For the quarter ended 31 March 2017
Mobeus Income & Growth VCT plc reports an Interim Management
Statement for the quarter ended 31 March 2017. 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 31 March At 31 December
2017 2016
Net assets attributable GBP59,842,203 GBP63,149,553
to shareholders
Shares in issue 75,597,471 75,597,471
Net asset value (NAV)
per share 79.16p 83.53p
Cumulative dividends
paid 95.80p 89.80p
Cumulative Total return
(net asset value basis)
per share since inception 174.96p 173.33p
% return on initial
NAV per share of 94.5
pence at inception
in July 2004 85.1% 83.4%
The NAV per share fell by 4.37 pence over the quarter,
principally due to the payment of an interim dividend of 6.00 pence
per share in the quarter, referred to below. The underlying
increase in NAV per share was due to an increase in the value of
the portfolio and income returns.
DIVIDENDS
A second interim capital dividend of 6.00 pence per share in
respect of the year ended 31 December 2016 was paid to shareholders
on 31 March 2017. This is in addition to the interim dividend of
8.50 pence per share paid to shareholders on 20 September 2016.
Total dividends paid in respect of 2016 were therefore 14.50 pence
per share, bringing cumulative dividends paid since inception to
95.80 pence per share.
NEW INVESTMENT
The Company made two new investments in the quarter. The first
of these was a GBP0.69 million investment in January 2017 into
Ibericos Etc (trading as Tapas Revolution), a leading Spanish
restaurant chain in the casual dining sector. The second was a
GBP0.67 million investment in March 2017 into Buster & Punch, a
premium brand business which designs a range of high quality
lighting and electrical fittings for the home.
In addition, a loan was advanced for GBP0.08 million by the
Company to BookingTek Limited as part of a loan facility. This
facility was agreed at the time of the initial investment made in
October 2016.
DIVESTMENTS
GBP0.37 million was received from the sale of Omega Diagnostics
plc, realising a gain of GBP0.12 million over cost. Sundry receipts
of GBP0.31 million was also received, of which GBP0.14 million was
received in respect of earlier disposals of two investments being
Focus Pharma and MachineWorks, in prior periods.
LOAN STOCK REPAYMENTS
The VCT received GBP5.83 million in partial loan repayments in
the quarter.
SHARE BUYBACKS
The Company did not conduct any share buybacks during the
period.
ANNUAL GENERAL MEETING
The Company is pleased to announce that all the resolutions
proposed at the Annual General Meeting of the Company held today,
10 May 2017, were approved by shareholders.
For further information, please contact:
Jonathan McGuire, for Mobeus Equity Partners LLP, Company
Secretary: 020 7024 7616.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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