Mobeus Income & Growth 4 VCT PLC Interim Management Statement (7446W)

TIDMMIG4

RNS Number : 7446W

Mobeus Income & Growth 4 VCT PLC

16 November 2017

Mobeus Income & Growth 4 VCT plc ("the Company")

INTERIM MANAGEMENT STATEMENT

For the quarter ended 30 September 2017

Mobeus Income & Growth 4 VCT plc reports an Interim Management Statement for the quarter ended 30 September 2017. 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 30 September 2017      At 30 June 
                                                     2017 
 Net assets attributable    GBP47,710,705   GBP52,824,374 
  to shareholders 
 Shares in issue               54,417,569      49,749,171 
 Net asset value (NAV) 
  per share                        87.68p         106.18p 
 Cumulative dividends 
  paid                             98.20p          80.20p 
 Total return (net asset 
  value basis) per share 
  since inception                 185.88p         186.38p 
 

DIVIDENDS

The Company paid an interim dividend of 18.00 pence per share (comprising 17.00 pence from capital and 1.00 penny from income) on 11 September 2017, bringing cumulative dividends paid per share to date to 98.20 pence.

FUNDRAISING

On 6 September 2017, the Company launched a joint fundraising Offer alongside the other three Mobeus advised VCTs. Due to strong demand, the Company has utilised its over-allotment facility which has increased the maximum offer size to GBP15 million in respect of the Company (GBP80 million in aggregate across the Mobeus advised VCTs).

Including the allotments already made, the total cumulative value of applications received on behalf of the Company to date is GBP13.2 million.

Further details of the Offer are set out in the Prospectus, which was made available on 6 September 2017 and can be viewed on the Mobeus website at www.mobeusequity.co.uk/vct-investors/fundraising .

DIVIDEND INVESTMENT SCHEME

On 11 September 2017, the Company issued 2,225,865 new ordinary shares under the terms of the Dividend Investment Scheme at a price of 79.25 pence per share.

SHARE BUY-BACKS

On 15 September 2017 the Company purchased 178,496 shares at a price of 79.25 pence per share following the purchase the shares were cancelled.

INVESTMENT ACTIVITY

New Investments

There were two new investments during the period.

On 5 July 2017, GBP1.56 million in Manufacturing Services Investment Limited, a company preparing to trade, along with GBP0.77 million from the Company's cash reserves was invested into B2C (Holdings) Limited (trading as Wetsuit Outlet), a leading online retailer in the water sports market (www.wetsuitoutlet.co.uk).

A follow on loan of GBP0.11 million was also advanced to MPB Group Limited.

Realisations

On 1 August 2017 GBP4.89 million was received from the sale of Entanet Holdings Limited to CityFibre Infrastructure Holdings plc. These proceeds were fully reflected in the NAV of the Company at 30 June 2017. This realisation contributed to a return of 2.5 times the original investment cost, and an IRR of 39% in the three and a half years that this investment was held. Deferred consideration of up to GBP0.74 million may be payable in due course.

In August 2017, TPSFF Holdings Limited (formerly The Plastic Surgeon Holdings Limited) repaid a total of GBP0.18 million in loan repayments.

In September 2017, additional proceeds of GBP0.013 million arising from the disposal of Higher Nature Limited were received.

A further two loan stock repayments totalling GBP0.10 million were received from TPSFF Holdings Limited after the quarter end.

Please note that all of the information above 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:

Jonathan McGuire, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7615.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 16, 2017 09:01 ET (14:01 GMT)