Mobeus Income & Growth 2 VCT PLC Interim Management Statement (5939X)

TIDMMIG

RNS Number : 5939X

Mobeus Income & Growth 2 VCT PLC

22 February 2017

Mobeus Income & Growth 2 VCT plc

(the "Company")

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 December 2016

Mobeus Income & Growth 2 VCT plc presents an Interim Management Statement for the quarter ended 31 December 2016. The statement also includes relevant financial information between the end of the quarter and the date of this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

 
                            At 31 December   At 30 September 
                                      2016         2016 
 Net assets attributable     GBP41,002,179     GBP41,070,623 
  to shareholders 
 Shares in issue                35,672,387        35,824,744 
 Net asset value (NAV) 
  per share                        114.94p           114.64p 
 Cumulative dividends 
  paid to date per share            52.00p            52.00p 
 Total return per share 
  since inception (NAV 
  basis)                           166.94p           166.64p 
 

DIVIDENDS

No dividends were paid during the quarter.

The Board has today declared a second interim dividend of 10.00 pence per share for the year ending 31 March 2017, which will be paid on 31 March 2017 to shareholders on the share register on 3 March 2017. Of this dividend, 5.00 pence per share is regarded as a special dividend, following on from the first interim special dividend of 5.00 pence per share paid on 8(th) August 2016 in respect of this year. The balance of this dividend of 5.00 pence per share fulfils the Company's annual dividend target of paying a dividend in respect of each financial year of not less than 5.00 pence per share, as stated in the Annual Report and Accounts for the year ended 31 March 2016.

This second interim dividend will bring dividends paid in respect of the year ending 31 March 2017 to 15.00 pence per share. Cumulative dividends paid per share since the launch of the current share class will become 62.00 pence per share.

SHARE BUY-BACKS

There were two share buy-backs during the period. On 2 December 2016, the Company bought back 115,000 of its ordinary shares and on 15 December 2016, the Company bought back 37,357 of its ordinary shares. Both share purchases were at a price of 103.00 pence per share.

INVESTMENT ACTIVITY

New Investments

In October 2016, GBP0.40 million was invested into BookingTek Limited, a provider of direct-booking software to major hotel groups.

In November 2016, GBP0.50 million was invested into Pattern Analytics Limited (trading as Biosite), a provider of biometric access control and software-based workforce management solutions for the construction sector.

In December 2016, GBP0.49 million was invested into Preservica Limited, a portfolio company providing software for the long-term preservation of digital records.

After the quarter-end GBP0.45 million was invested into Ibericos Etc. Limited (trading as Tapas Revolution), a leading Spanish restaurant chain in the casual dining sector.

There have now been six investments made in accordance with the Company's new Investment Policy, approved by shareholders in September last year. The new policy was introduced in response to new VCT rules that require all VCTs to provide growth capital to younger, earlier stage companies.

Realisations

There were no realisations during the quarter.

Loan Stock Repayments

In December 2016, a GBP0.34 million loan stock repayment was received from Barham Consulting Limited, a company preparing to trade.

After the quarter-end, in January 2017, a further GBP0.68 million loan stock repayment was received from Backhouse Management Limited, as well as GBP0.34 million from McGrigor Management Limited. Both are companies preparing to trade.

Please note that all of the information above is unaudited.

Other than as described above, there were no material events during the quarter and to the date of this announcement.

For further information, please contact:

Jonathan McGuire, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7600

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 22, 2017 11:30 ET (16:30 GMT)