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28.50 0.00 (0.00%)

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Spread: 1.00 (3.571%)

Market Cap: £13.56m

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Mobeus venture capital trusts partially exit Brighton-based MPB Group

Tue, 06th Apr 2021 16:29

(Alliance News) - Four venture capital trusts managed by Mobeus Equity Partners LLP said Tuesday they made a partial disposal of their equity investments in MPB Group Ltd.

MPB is a Brighton-based online marketplace for used photo and video equipment.

The four VCTs each sold about 25% of their existing holdings in MPB on Wednesday last week. The partial exit was part of a GBP49.8 million primary and secondary funding round for MPB led by Vitruvian Capital Partners LLP.

Income & Growth VCT PLC received GBP1.7 million in net proceeds, and the disposal will increase its net asset value per share by 0.48 pence from the 79.17p NAV reported for December 31.

Mobeus Income & Growth VCT PLC received GBP1.6 million net, and the sale will raise its NAV per share by 0.42p from 67.03p on December 31.

Mobeus Income & Growth 2 VCT PLC got GBP1.0 million net, and the sale will lift its NAV per share by 0.45p from 87.22p on December 31.

Mobeus Income & Growth 4 VCT PLC received GBP1.3 million net, and the disposal will increase its NAV per share by 0.49p from 81.50p on December 31.

All four VCTs noted that their NAVs also will benefit from the recent AIM listings of Parsley Box Group PLC and Virgin Wines UK PLC.

By Tom Waite; thomaslwaite@alliancenews.com