Mobeus Income & Growth VCT PLC Interim Management Statement 31 March 2018 (5680N)

TIDMMIX

RNS Number : 5680N

Mobeus Income & Growth VCT PLC

09 May 2018

Mobeus Income & Growth VCT plc ("the Company")

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 March 2018

Mobeus Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 31 March 2018. The statement also includes relevant financial information between the end of the period and the date of this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

 
                                 At 31 March   At 31 December 
                                        2018             2017 
 Net assets attributable       GBP77,677,248    GBP69,899,777 
  to shareholders 
 Shares in issue                 108,580,981       97,425,719 
 Net asset value (NAV) 
  per share                           71.54p           71.75p 
 Cumulative dividends 
  paid                               108.80p          108.80p 
 Cumulative Total return 
  (net asset value basis) 
  per share since inception 
  in 2004                            180.34p          180.55p 
 

DIVIDENDS

A final dividend of 3.00 pence per share in respect of the year ended 31 December 2017 was approved by shareholders at the AGM held today. The final dividend will be paid, to shareholders on the register on 27 April 2018, on 17 May 2018 and will bring cumulative dividends paid since inception to 111.80 pence per share.

NEW INVESTMENTS

The Company made three new investments and two follow-on investments totalling GBP2.58 million during the quarter.

In January 2018, the Company invested GBP0.42 million into Proactive Investors, an investor media services company. In March 2018, the Company made investments of GBP0.58 million into Super Carers, an online platform connecting people seeking home care, and GBP0.60 million into Hemmels, a classic car restoration business.

In February 2018 the Company made a follow-on investment of GBP0.43 million into Mpb, an online marketplace for used camera and video equipment. In March 2018 the Company made a follow-on investment of GBP0.55 million in Ibericos Etc. Limited (trading as Tapas Revolution), a Spanish restaurant chain.

DIVESTMENTS

There were no divestments during the quarter.

GBP0.10 million of deferred consideration, in respect of the sale of Gro Group Holdings Limited, was received in April 2018, after the quarter end.

LOAN STOCK REPAYMENTS

The VCT received GBP0.14 million in loan stock repayments from TPSFF Holdings Limited (formerly Plastic Surgeon) during the quarter, as well as GBP0.14 million after the quarter end.

FUNDRAISING - ISSUE OF SHARES

On 24 January 2018, 3,537,118 ordinary shares were allotted under the Company's Offer for Subscription raising net funds of GBP2.48 million.

On 13 March 2018, 7,618,144 ordinary shares were allotted under the Company's Offer for Subscription raising net funds of GBP5.34 million. The Offer closed following the completion of this allotment, having raised the maximum amount of subscriptions, being GBP25 million.

SHARE BUYBACKS

There were no share buybacks during the quarter.

Shortly after the quarter end, on 6 April 2018, the Company repurchased 235,000 of its own ordinary shares at a price of 63.20 pence per share for cancellation.

Following this share buyback and cancellation there are now 108,345,981 ordinary shares of 1 penny each in issue.

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 7616.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 09, 2018 11:52 ET (15:52 GMT)