Update upon the convening of a general meeting

RNS Number : 7096R

Mobeus Income & Growth VCT PLC

30 June 2015

 

Mobeus Income & Growth VCT plc

Further update upon the convening of a general meeting

30 June 2015

Background

The Board of Mobeus Income & Growth VCT plc ("the Company") updated Shareholders on 10  June 2015 in respect of its intention to convene a general meeting which was referred to in the prospectus dated 10 December 2014, issued by the Company jointly with Mobeus Income & Growth 2 VCT plc, Mobeus Income & Growth 4 VCT plc and The Income & Growth VCT plc (the "Prospectus"), in connection with an Offer for Subscription ("the Offer") by the Company and each of the other Companies.

The Board advised in the Prospectus (as also disclosed in the Company's annual report  for the year ended 31 December 2014 since published) that it had agreed with Mobeus Equity Partners LLP ("Mobeus") to:-

i)	make a bonus payment to Mobeus of £250.00 (inclusive of VAT if any);  and
ii)	consider implementing a revised performance incentive agreement with Mobeus, such agreement to be similar to that currently in place, reflective of a total return performance and to be effective from 1 January 2015.

In each case, the proposals would be subject to the approval of Shareholders and the requirements of the Listing Rules. The Board further agreed to convene a general meeting to seek Shareholder approval of the proposals within three months of the close of the Offer.

The announcement on 10  June 2015 undertook to update shareholders on or before 30 June on progress upon this matter, as both the  Board and Mobeus had agreed to extend the original deadline of 10 June to 30 June 2015, to convene a general meeting. .

Update

The Board advises that due to unforeseen factors, the Board has agreed with Mobeus to extend further the deadline to convene a general meeting, to on or before 31 August 2015, and intends to update Shareholders on this matter by that date.

For further information, please contact:

Robert Brittain, of Mobeus Equity Partners LLP, Company Secretary 020 7024 7612

 

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