Mobeus Income & Growth 2 VCT PLC Interim Management Statement (2148P)

TIDMMIG

RNS Number : 2148P

Mobeus Income & Growth 2 VCT PLC

07 February 2023

MOBEUS INCOME & GROWTH 2 VCT PLC

("the Company")

LEI: 213800LY62XLI1B4VX35

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 December 2022

Mobeus Income & Growth 2 VCT plc presents an Interim Management Statement for the quarter ended 31 December 2022. 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 December   At 30 September 
                                                            2022              2022 
                                                     (unaudited)       (unaudited) 
                        Net assets attributable    GBP70,433,343     GBP68,459,466 
                                to shareholders 
                                Shares in issue       89,496,349        80,022,131 
                      Net asset value (NAV) per      78.70 pence       85.55 pence 
                                          share 
                      Cumulative dividends paid     140.00 pence      134.00 pence 
                        Cumulative Total return     218.70 pence      219.55 pence 
                        (net asset value basis) 
                      per share since inception 
 

NAV total return per share, after adding back the dividend of 6.00 pence per share paid in November 2022, has decreased by 1.0% in the quarter ended 31 December 2022. However, the NAV per share has decreased by 6.85 pence in the quarter (an 8.0% decrease).

INVESTMENT ACTIVITY DURING THE PERIOD

Partial realisation during the period

On 24 November 2022, the Company sold its equity investment in EOTH Limited. The Company received GBP4.33 million in cash from the sale (including accrued preference dividends). Total proceeds received to date over the seven and a half year life of the investment were GBP5.64 million compared to an original investment cost of GBP0.82 million, a multiple on cost of 6.9x and an IRR of 23.2%.

Loan repayment during the period

On 21 October 2022, the Company received a loan repayment of GBP0.37 million from Jablite Holdings Limited.

DIVIDEND PAID DURING THE PERIOD

On 7 November 2022, an interim dividend of 6.00 pence per share in respect of the year ending 31 March 2023 was paid to all Shareholders whose names were on the register on 30 September 2022.

FUNDRAISING

On 5 October 2022 the Company launched an Offer for Subscription of GBP16 million (including over-allotment amount), alongside Offers from the other Mobeus VCTs. The Company received subscriptions amounting to the full amount within the quarter and was subsequently then closed to further applications. In accordance with the Offers' prospectus, in respect of the initial amount, an allotment of 9,693,230 Ordinary shares took place on 16 November 2022 raising net funds (after costs) of GBP7.71 million for the Company. In respect of the over-allotment amounts, a second allotment of 9,782,440 Ordinary shares took place on 6 February 2023 raising net funds (after costs) of GBP7.70 million for the Company.

Please note that all of the above information 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 :

Gresham House Asset Management Limited,

Company Secretary

020 7382 0999

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCQDLFBXLLZBBB

(END) Dow Jones Newswires

February 07, 2023 12:00 ET (17:00 GMT)