Mobeus Income & Growth VCT PLC Interim Management Statement - 3rd Quarter (6265F)
November 17 2020 - 9:22AM
UK Regulatory
TIDMMIX
RNS Number : 6265F
Mobeus Income & Growth VCT PLC
17 November 2020
Mobeus Income & Growth VCT plc
("the Company")
INTERIM MANAGEMENT STATEMENT
for the quarter ended 30 September 2020
Mobeus Income & Growth VCT plc presents an Interim
Management Statement for the third quarter ended 30 September 2020.
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 2020 At 30 June 2020
Net assets attributable to shareholders GBP83.16 million GBP74.71 million
Shares in issue 126,596,312 126,919,084
Net asset value (NAV) per share 65.69 pence 58.86 pence
Cumulative dividends paid 134.80 pence 134.80 pence
Cumulative total return per share (NAV basis)
since inception in 2004 200.49 pence 193.66 pence
The NAV per share increased by 6.83 pence (11.6%) over the
quarter, principally due to an uplift in the unrealised portfolio
value combined with two profitable realisations, as explained
further under 'Realisations during the period'.
INTERIM DIVIDEND DECLARATION
The Board is today declaring an interim dividend of 5.00 pence
per ordinary share, in respect of the year ending 31 December 2020.
The dividend will be paid on 17 December 2020 to Shareholders on
the Register on 27 November 2020.
INVESTMENT ACTIVITY DURING THE PERIOD
Follow-on investments during the period
On 1 September 2020, the Company completed a further investment
of GBP1.42 million into Buster & Punch, while also receiving a
loan repayment of GBP0.20 million back from the company.
On 28 September 2020, the Company completed a further investment
of GBP0.75 million into Preservica.
Realisations during the period
On 14 August 2020, the Company sold its investment in Tovey
Management Limited (trading as Access IS) to ASSA ABLOY AB for cash
proceeds of GBP7.07 million. Over the five years this investment
was held, it generated cash proceeds of GBP8.25 million compared to
an original investment cost of GBP3.26 million, which is a multiple
on cost of 2.5x and an IRR of 23.4%.
On 2 September 2020, the Company sold its investment in Blaze
Signs Holdings Limited to a secondary buyout backed by Elaghmore
LLP, receiving cash proceeds of GBP1.98 million. Over the 14 years
this investment was held, it has generated cash proceeds of GBP5.27
million compared to an original investment cost of GBP1.95 million,
which is a multiple on cost of 2.7x and an IRR of 13.6%.
Loan repayments and other proceeds during the period
Besides the loan repayment of GBP0.20 million from Buster &
Punch referred to above, on 17 August 2020, the Company received
further proceeds of GBP0.02 million arising from the realisation of
Turner Topco Limited (trading as Auction Technology Group) which
occurred earlier in the year.
INVESTMENT ACTIVITY AFTER THE PERIOD END
Loan repayment after the period end
On 19 October 2020, the Company received a part loan repayment
from Vian Marketing Limited (trading as Red Paddle) totalling
GBP0.21 million.
SHARE BUY-BACKS
On 17 September 2020, the Company purchased 322,772 of the its
own ordinary shares at a price of 55.92 pence per share for
cancellation.
Following this purchase, the Company has 126,596,312 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 :
Mobeus Equity Partners LLP
Company Secretary
020 7024 7600
LEI: 213800HKOSEVWS7YPH79
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END
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