Statement re Related Party Transaction

RNS Number : 4478Z

Mobeus Income & Growth VCT PLC

10 December 2014

 



Announcement

Related Party Transaction

The Board of Mobeus Income & Growth VCT plc ("the Company") advise that, subject to the approval of shareholders at a general meeting, the Company has agreed to make a one off bonus payment to Mobeus Equity Partners LLP ("Mobeus"), the investment adviser to the Company, in recognition of Mobeus's performance as the investment adviser to the Company, in the amount of £250,000 (inclusive of VAT, if any) ("the Performance Payment").

Such general meeting will be convened within three months of the close of the Company's offer for subscription announced earlier today (and it is intended that such meeting will be after the last allotment of shares pursuant to such offer to ensure investors under the offer are eligible to vote at the meeting).  As Mobeus is a related party of the Company under the Listing Rules, the agreement to make the Performance Payment is a transaction to which Listing Rule 11.1.10 applies.

For further information, please contact:

Mobeus Equity Partners LLP

Rob Brittain

Telephone: [phone]

 

END

 

 

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