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21 Sep 2022 09:58
Mobeus Income & Growth 2 VCT plc
("the Company")
LEI: 213800LY62XLI1B4VX35
INTERIM MANAGEMENT STATEMENT
For the quarter ended 30 June 2022
Mobeus Income & Growth 2 VCT plc presents an Interim Management Statement for the quarter ended 30 June 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 30 June 2022 (unaudited) | At 31 March 2022 (audited) |
Net assets attributable to shareholders | £71,769,792 | £77,505,982 |
Shares in issue | 80,426,321 | 80,426,321 |
Net asset value (NAV) per share | 89.24 pence | 96.37 pence |
Cumulative dividends paid | 134.00 pence | 134.00 pence |
Cumulative Total return (net asset value basis) per share since inception | 223.24 pence | 230.37 pence |
The NAV per share has decreased by 7.13 pence in the quarter (a decrease of 7.4% upon the opening NAV per share). This decrease is principally due to a fall in unrealised portfolio valuations.
INVESTMENT ACTIVITY DURING THE PERIOD
New investments during the period
On 5 May 2022, a new investment of £0.43 million was made into Lads Store Limited (trading as Bidnamic), a marketing technology business.
Follow-on investments during the period
On 6 April 2022, a follow-on investment of £0.12 million was made into Northern Bloc Ice Cream Limited, a dairy and allergen-free ice cream producer.
On 23 May 2022 a follow-on investment of £0.27 million, was made into Muller EV Limited (trading as Andersen EV), a provider of premium electric vehicle chargers.
On 14 June 2022 a follow-on investment of £0.18 million, was made into Rota Geek Limited, a provider of workforce management software.
Realisation during the period
On 9 June 2022, the Company sold its investment in Media Business Insight Holdings Limited for £2.77 million. Total proceeds received to date over the seven and a half year life of the investment were £4.47 million compared to an original investment cost of £2.01 million, which is a multiple on cost of 2.2x and an IRR of 13.7%.
INTENTION TO FUNDRAISE 2022/2023
The Board announced on 15 August 2022 its intention to launch joint offers for subscription for the current tax year with the other Mobeus VCTs. A prospectus containing the full details and terms of the offers will be published in due course and announced to the London Stock Exchange.
INVESTMENT ACTIVITY AFTER THE PERIOD END
New investments after the period end
On 9 September 2022, a new investment of £0.42 million was made into FocalPoint Positioning Limited, a navigation and positioning technology company.
On 12 September 2022, a new investment of £0.37 million was made into Orri Limited, a provider of specialist eating disorder treatments.
Follow-on investments after the period end
On 5 July 2022, a follow on investment of £0.59 million was made into Vivacity Labs Limited, an AI and urban traffic control business.
On 23 August 2022, a follow on investment of £0.28 million was made into Bleach London Holdings Limited, a hair colourants brand.
DIVIDENDS PAYABLE AFTER THE PERIOD END
The Board has today declared an interim dividend of 6.00 pence per share in respect of the year ending 31 March 2023 to be paid on 7 November 2022 to those shareholders on the Register of Members on 30 September 2022.
Payment of this dividend will reduce NAV per share and increase cumulative dividends paid (shown above) by a corresponding amount.
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
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