TIDMMIX
RNS Number : 5339G
Mobeus Income & Growth VCT PLC
06 November 2018
Mobeus Income & Growth VCT plc
("the Company")
INTERIM MANAGEMENT STATEMENT
For the quarter ended 30 September 2018
Mobeus Income & Growth VCT plc presents an Interim
Management Statement for the third quarter ended 30 September 2018.
The statement also includes relevant financial information between
the end of the period and the date of this statement.
NET ASSET VALUE (NAV) AND TOTAL RETURN PER SHARE
At 30 September 2018 At 30 June
2018
Net assets attributable to shareholders GBP74.18 million GBP75.38 million
Shares in issue 107,696,072 108,170,944
Net asset value (NAV) per share 68.88 pence 69.69 pence
Cumulative dividends paid 113.80 pence 111.80 pence
Cumulative total return per
share (NAV basis) since inception
in 2004 182.68 pence 181.49 pence
The NAV per share decreased by 0.81 pence over the quarter,
principally due to the payment of an interim dividend of 2.00 pence
per share in the quarter, referred to below.
DIVIDENDS
The Company paid an interim capital dividend of 2.00 pence per
share for the year ending 31 December 2018 on 21 September 2018.
This brings cumulative dividends paid since the launch of the
Company to 113.80 pence per share.
INVESTMENT ACTIVITY
Investments during the period
The Company made one new investment and one follow-on investment
into an existing portfolio company during the period.
On 13 August 2018, GBP0.57 million was invested into Rotageek, a
provider of cloud-based enterprise software used to schedule staff
effectively and fairly.
On 28 September 2018, a follow-on investment of GBP1.20 million
was made into Preservica, a seller of proprietary digital archiving
software.
Investments following the period end
On 9 October 2018, GBP0.83 million was invested into Biosite, an
existing portfolio company and provider of workforce management and
security services.
On 10 October 2018, a follow-on investment of GBP0.42 million
was made into Proactive Investors, a provider of investor media
services.
On 19 October 2018, a follow-on investment of GBP0.07 million
was made into MPB, an online marketplace for used photographic
equipment.
Realisations during the period
On 28 August 2018, the Company realised its investment in
Fullfield, receiving cash proceeds of GBP0.92 million. The
realisation contributed to a return of 1.2 times the original
investment cost, and an IRR of 5.0% over the seven years that this
investment was held.
On 7 September 2018, GBP0.27 million cash proceeds was received
from the sale of Hemmels Limited, a restorer of classic cars. The
sale represented a realised loss of GBP0.33 million on the original
investment cost over the six months this investment was held.
On 18 September 2018, the Company realised its investment in
Lightworks, receiving cash proceeds of GBP0.94 million. The
realisation contributed to a return of 21.7 times the original
investment cost and an IRR of 57.2%.
Including the preference share repayments of GBP0.09 million
referred to below, and liquidation proceeds of GBP0.02 million, net
cash proceeds for the period amounted to GBP2.24 million.
PREFERENCE SHARE REPAYMENTS
The Plastic Surgeon Holdings bought back a total of GBP0.18
million of A preference shares owned by the Company, in two equal
tranches on 31 July and 31 October 2018.
SHARE BUY-BACKS
On 17 August 2018, the Company purchased 195,000 of its own
ordinary shares at a price of 61.50 pence per share for
cancellation. On 26 September 2018, the Company purchased a further
279,872 of its own ordinary shares at an average price of 60.50
pence per share for cancellation.
Following these purchases, the Company has 107,696,072 ordinary
shares of 1 penny each in issue.
Please note that all of the above information 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:
Robert King, 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
QRTFSEFIMFASEDF
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November 06, 2018 10:42 ET (15:42 GMT)
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