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6 Sep 2012 15:30
Mobeus Income & Growth 2 VCT plc (the Company) UNAUDITED INTERIM MANAGEMENT STATEMENT For the quarter ended 31 July 2012
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, Mobeus Income & Growth 2 VCT plc (formerly Matrix Income & Growth 2 VCT plc) presents an Interim Management Statement for the quarter ended 31 July 2012. The statement also includes relevant financial information between the end of the period and the date of this statement.
NET ASSET VALUE PER SHARE Ordinary Share Fund (formerly C Shares until 10 September 2010) 31 July 2012 30 April 2012 Net assets attributable to £24,899,783 £ 24,526,639 shareholders Shares in issue 24,847,465 24,847,465 Net asset value per Ordinary Share 100.21 p 98.71 p Cumulative dividends paid per 14.00 p 14.00 p Ordinary Share Total return per share (net asset 114.21 p 112.71 p value basis)
ANNUAL GENERAL MEETING
All resolutions were duly passed at the Company's Annual General Meeting on 6 September 2012.
DIVIDENDS
No dividends were paid during the quarter.
SHARE BUY-BACKS
There were no share buybacks during the period, but 80,160 shares were bought back on 17 August 2012 and subsequently cancelled by the Company. The shares above were bought back for a price of 68.41 pence per share, at a discount to the net asset value at the date of the buyback of 31.01%.
INVESTMENT PORTFOLIO
On 15 June 2012, a further £57,143 was invested in PXP Holdings Limited.
On 20 July 2012, the Company made a new investment of £907,762 to support the Management Buy-Out of Oval (2253) Limited, trading as Tessella, a technical consultancy for the life sciences, energy and consumer goods sectors. The Company used its existing investment of £1 million in the acquisition vehicle Sawrey to finance the transaction and therefore received back a repayment of £ 93,238.
On 31 May 2012, the Company realised its entire investment in Iglu.com Holidays Limited through a sale to Growth Capital Partners for net cash proceeds of £ 1,455,265. This realisation contributed to total cash proceeds of £2,530,414 to the Company over the life of the investment, representing a 2.5 times return on the Company's original investment of £1 million.
LOAN STOCK REPAYMENTS
In July, Fullfield Limited made a partial repayment of its loan stock of £ 77,370 and Blaze Signs Holdings Limited repaid £267,118 of its loan stock, together with a premium of £61,642.
Please note that all the information above is unaudited.
Other than described above, there were no material events during the period and to the date of this announcement.
For further information, please contact:
Robert Brittain, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7600
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