1st Quarter Results

RNS Number : 4863M

Mobeus Income & Growth VCT PLC

23 May 2022

 

Mobeus Income & Growth VCT plc

("the Company")

LEI:  213800HKOSEVWS7YPH79

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 March 2022

Mobeus Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 31 March 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 March 2022 (unaudited)	At 31 December 2021 (audited)
Net assets attributable to shareholders	£112.85 million	£112.96 million
Shares in issue	137,310,943	125,077,481
Net asset value (NAV) per share	82.18 pence	90.31 pence
Cumulative dividends paid	148.80 pence	144.80 pence
Cumulative Total return (net asset value basis) per share since inception	230.98 pence	235.11 pence

The NAV per share has decreased by 8.13 pence in the quarter (a decrease of 9.0% from the opening NAV per share). This decrease arises both from the 4.00 pence per share dividend paid in January 2022 as well as a fall in unrealised valuations. On a total return basis, after adding back the dividend of 4.00 pence per share, the decrease is 4.6%.

OFFER FOR SUBSCRIPTION

On 20 January 2022, the Company took part in a Joint Offer for Subscription ("Offer") alongside the other Mobeus VCTs. Following unprecedented demand, the Offer became fully subscribed in record time, with an allotment of 12,233,462 shares taking place on 9 March 2022 raising net funds (after costs) of £9.69 million for the Company.

DIVIDEND PAID IN THE PERIOD

On 7 January 2022, an interim dividend of 4.00 pence per share in respect of the year ended 31 December 2021 was paid to all Shareholders whose names were on the register on 10 December 2021.

INVESTMENT ACTIVITY DURING THE PERIOD

New Investment during the period

On 10 February 2022, the Company completed a new investment of £0.73 million into Proximity Insight, a retail technology business.

Follow-on investments during the period

On 24 January 2022 and 22 February 2022, follow-on investments totalling £0.27 million were made into Caledonian Leisure, a UK-based leisure and experience breaks provider.

Loan repayment and other proceeds during the period

The Company received a loan repayment of £0.12 million from Media Business Insight and other proceeds totalling £0.55 million from investments realised in a previous year, primarily from Vian Marketing (trading as Red Paddle).

INVESTMENT ACTIVITY AFTER THE PERIOD END

New investment after the period end

On 5 May 2022, the Company completed a new investment of £0.58 million into Bidnamic, a marketing technology business.

Follow-on investment after the period end

On 6 April 2022, a further investment of £0.17 million was made into Northern Bloc, a dairy and allergen-free ice cream producer.

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.

 

END

 

 

QRFFLFESELIVFIF