Mobeus Income & Growth 2 VCT PLC Interim Management Statement (4503E)

TIDMMIG

RNS Number : 4503E

Mobeus Income & Growth 2 VCT PLC

09 February 2018

Mobeus Income & Growth 2 VCT plc

(the "Company")

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 December 2017

Mobeus Income & Growth 2 VCT plc presents an Interim Management Statement for the quarter ended 31 December 2017. 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 
                                      2017              2017 
 Net assets attributable     GBP50,744,310     GBP38,831,906 
  to shareholders 
 Shares in issue                48,051,015        37,609,938 
 Net asset value (NAV)        105.61 pence      103.25 pence 
  per share 
 Cumulative dividends          69.00 pence       69.00 pence 
  paid to date per share 
  since inception 
 Total return per share        174.61pence      172.25 pence 
  since inception (NAV 
  basis) 
 

DIVIDENDS

No dividends were paid during the quarter.

An interim dividend of 9.00 pence per share for the year ended 31 March 2018 was paid on 22 January 2018. This dividend 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. This payment reduced the NAV per share above to 96.61 pence and increases cumulative dividends paid per share since inception of the current share class to 78.00 pence.

SHARE BUY-BACKS

On 20 December 2017, the Company bought back 279,297 of its ordinary shares at a price of 92.75 pence per share.

ISSUES OF EQUITY

As part of the Offer for Subscription ("Offer") launched on 6 September 2017, a total of 12,937,600 new ordinary shares were issued during the quarter at offer prices ranging between 103.17 and 110.99 pence per share.

Following the quarter end, on 24 January 2018, a further 1,361,600 new ordinary shares were issued under the Offer at prices ranging between 95.21 and 101.38 pence per share. As a result of this allotment, and previous allotments, the Company had received and allotted applications totalling approximately GBP15 million and so, being fully subscribed, the Offer was subsequently closed to further applications.

INVESTMENT ACTIVITY

New Investments

On 21 November 2017, a further GBP0.05 million was invested in BookingTek Limited

On 5 December 2017, a further loan of GBP0.09 million was invested in MPB Group Limited.

After the quarter end, on 18 January 2018, GBP0.29 million was invested into Proactive Investors, a provider of investor media services.

Realisations

On 19 December 2017, the Company realised its investment in Gro-Group Holdings Limited for proceeds of GBP1.96 million, while up to a further GBP0.07 million in deferred consideration is potentially payable over the next 12 months. Excluding potential deferred consideration, on the completion date, this transaction delivered the Company a realised gain over cost of GBP0.84 million, or 1.74 pence per share. The proceeds for this realisation were received on 2 January 2018, after the quarter end.

Loan Stock Repayments

On 1 and 2 November 2017, TPSFF Holdings Limited made loan stock repayments totalling GBP0.08 million.

After the quarter end, on 1 February 2018, TPSFF Holdings Limited made loan repayments totalling GBP0.07 million.

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 09, 2018 05:35 ET (10:35 GMT)