Mobeus Income & Growth VCT PLC Realisation of Investment (1413H)
December 01 2020 - 9:00AM
UK Regulatory
TIDMMIX
RNS Number : 1413H
Mobeus Income & Growth VCT PLC
01 December 2020
Mobeus Income & Growth VCT plc
(the "Company")
LEI: 213800HKOSEVWS7YPH79
Realisation of investment in Vectair Holdings Limited
The Company is pleased to announce the sale of its investment in
Vectair Holdings Limited ("Vectair") to a consortium of US
investors. The Company has received GBP2.86 million in cash from
the sale, contributing to a realised gain over cost over the life
of the investment of GBP4.09 million, being the equivalent of 3.23
pence per share. Further proceeds may be receivable in due
course.
In isolation, the impact of this sale on the Company's latest
announced NAV per share of 65.69 pence at 30 September 2020, would
be an increase of 0.17 pence per share. The Company emphasises that
the increase in NAV per share from this realisation is in isolation
from other changes in the Company's balance sheet, including
valuation and other transaction movements in the Company's
investment portfolio, that may also have affected the NAV per share
since 30 September 2020.
All four Mobeus-advised VCTs realised their investment in
Vectair. To date, cash proceeds have been received by the four
Mobeus-advised VCTs over the life of their investment in Vectair of
GBP9.30 million, against an original investment cost of GBP1.12
million. This represents a return for the Mobeus VCTs in aggregate
of 8.3 times the original investment cost and an IRR of 22.2% in
the nearly 15 years that this investment was held.
For further information, please contact:
Mobeus Equity Partners LLP, Company Secretary 020 7024 7600
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