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Pin to quick picksMobeus I&g 4 Regulatory News (MIG4)

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Mobeus Income & Growth 4 VCT is an Investment Trust

To provide investors with a regular income stream and to generate capital growth by investing primarily in a diverse portfolio of UK unquoted companies.

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Interim Management Statement - 3rd Quarter Results

27 Nov 2019 16:15

RNS Number : 8990U
Mobeus Income & Growth 4 VCT PLC
27 November 2019
 

Mobeus Income & Growth 4 VCT plc

("the Company")

 

INTERIM MANAGEMENT STATEMENT

For the quarter ended 30 September 2019

 

Mobeus Income & Growth 4 VCT plc presents an Interim Management Statement for the third quarter ended 30 September 2019. The statement also includes relevant financial information between the end of the period and the date of this statement.

 

NET ASSET VALUE (NAV) AND TOTAL RETURN PER SHARE

At 30 September 2019

At 30 June 2019

Net assets attributable to shareholders

£50.18 million

£59.50 million

Shares in issue

67,077,799

67,604,732

Net asset value (NAV) per share

74.81 pence

88.02 pence

Cumulative dividends paid

122.20 pence

109.20 pence

Cumulative total return per share (NAV basis) since inception

197.01 pence

197.22 pence

 

The NAV per share decreased by 13.21 pence over the quarter, principally due to the payment of an interim dividend of 13.00 pence per share in the quarter, referred to below.

 

DIVIDENDS

The Company paid an interim dividend of 13.00 pence per share for the year ending 31 December 2019 on 20 September 2019.

 

As previously announced, the Company has declared a second interim dividend of 2.00 pence per share for the year ending 31 December 2019, to be paid to Shareholders on 30 December 2019.

 

The payment of this dividend will bring cumulative dividends paid since the launch of the Company to 124.20 pence per share.

 

FUNDRAISING

On 25 October 2019, the Company launched a joint fundraising Offer alongside the other three Mobeus-advised VCTs. The Company is seeking to raise up to £8 million (£38 million in aggregate across the Mobeus-advised VCTs), with an optional over-allotment facility for an additional £5 million (an additional £20 million in aggregate across the Mobeus-advised VCTs). On 19 November 2019 the Board announced that in light of continuing strong demand from investors, it confirmed that the optional over-allotment facility of £5 million would be used in relation to the Offer. This increased the maximum amount which can be raised under the Offer in respect of the Company to a total of £13 million. The Board of Directors is pleased to report that, since the Offer was launched, the Company has received applications for subscriptions totalling in excess of £6.18 million as of 25 November 2019.

Further details of the Offer are set out in the Prospectus, which was made available on 25 October 2019, and can be viewed on the Mobeus website at www.mobeus.co.uk/vct-investors/fundraising.

 

INVESTMENT ACTIVITY

 

Investments during the period

On 10 July 2019, £0.45 million was invested into existing portfolio company, MPB Group, Europe's leading online marketplace for used camera and video equipment.

 

Investments following the period end

On 1 November 2019, £1.10 million was invested into Data Discovery Solutions Limited trading as Active Navigation, a file analysis software solution which makes it easier for companies to clean up network drives, respond to new data protection laws and dispose of redundant and outdated documents.

 

DEFERRED PROCEEDS

On 2 August 2019, the Company received £0.25 million as the final tranche of deferred proceeds from the sale of Entanet Holdings Limited, which occurred on 1 August 2017.

 

SHARE BUYBACKS

As previously announced, effective since 1 August 2019, the Board's objective is to maintain the discount to NAV at which the Company's shares may trade in the market at approximately 5%. Prior to this, the Company had operated its buyback policy with the objective of maintaining the discount to NAV at which the Company's shares may trade at approximately 10%.

 

On 26 September 2019, the Company purchased 526,933 of the its own ordinary shares at a price of 70.11 pence per share for cancellation.

 

Following this purchase, the Company has 67,077,799 ordinary shares of 1 penny each in issue.

 

BOARD CHANGES

On 26 November 2019 the Board were please to announce the appointment of Chris Burke as a Non-Executive Director on the Board

 

 

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:

 

Mobeus Equity Partners LLP

Company Secretary

020 7024 7600.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCKMMZMKNDGLZM
Date   Source Headline
23rd Dec 201012:12 pmPRNTransaction in Own Shares
22nd Dec 20103:08 pmPRNOffer Update and Issue of Supplementary Prospectus
20th Dec 20103:06 pmPRNInterim Management Statement
30th Nov 20102:28 pmPRNTotal Voting Rights
29th Nov 201010:13 amPRNIssue of Equity
12th Nov 20106:12 pmPRNPublication of Prospectus
29th Oct 201011:31 amPRNTotal Voting Rights
25th Oct 201011:58 amPRNTransaction in Own Shares
6th Oct 20102:56 pmPRNDoc re Half-Yearly Report
27th Sep 20105:32 pmPRNDirectorate Change
27th Sep 20105:31 pmPRNHalf-yearly Report
30th Jul 201012:32 pmPRNTotal Voting Rights
30th Jul 201012:32 pmPRNTotal Voting Rights
28th Jul 20105:20 pmPRNTransaction in Own Shares
27th Jul 201010:30 amPRNDirectorate Change
2nd Jul 20103:56 pmPRNTransaction in Own Shares
30th Jun 20103:23 pmPRNTotal Voting Rights
16th Jun 20103:41 pmPRNDirector/PDMR Shareholding
16th Jun 20103:29 pmPRNIssue of Equity
14th Jun 20104:01 pmPRNForfeiture of shares
8th Jun 20103:13 pmPRNInterim Management Statement
27th May 20101:06 pmPRNResult of AGM
30th Apr 20102:49 pmPRNAnnual Financial Report
30th Apr 201011:54 amPRNTotal Voting Rights
13th Apr 201011:51 amPRNAnnual Information Update
12th Apr 20104:10 pmPRNAnnual Financial Report
8th Apr 20102:58 pmPRNAdmission of new Ordinary Shares to trading
6th Apr 20109:49 amPRNOffer for subscription closed
6th Apr 20109:46 amPRNIssue of Equity
1st Apr 20107:00 amPRNIssue of Equity
31st Mar 201010:00 amPRNStatement re Top-Up Offer
29th Mar 20109:44 amPRNNet Asset Value(s)
28th Jan 20104:44 pmPRNDoc re Offer for Subscription
28th Jan 20107:00 amPRNOffer for Subscription
31st Dec 20097:00 amPRNTotal Voting Rights
22nd Dec 200911:45 amPRNTransaction in Own Shares
18th Dec 20093:53 pmPRNInterim Management Statement
30th Nov 20093:29 pmPRNTotal Voting Rights
19th Nov 20093:42 pmPRNStatement re Realisation of investment in PastaKing
9th Nov 20095:41 pmPRNTransaction in Own Shares
2nd Nov 20095:11 pmPRNTotal Voting Rights
7th Oct 20095:31 pmPRNTransaction in Own Shares
2nd Oct 20099:44 amPRNDoc re Half-Yearly Report
18th Sep 20097:00 amPRNHalf-yearly Report
2nd Sep 200910:58 amPRNTotal Voting Rights
1st Sep 20093:02 pmPRNTransaction in Own Shares
2nd Jul 20095:29 pmPRNStatement re Realisation of investment
1st Jul 20099:35 amPRNTotal Voting Rights
1st Jul 20099:27 amPRNTransaction in Own Shares
21st May 20092:22 pmPRNInterim Management Statement

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