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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
7th Feb 20206:40 pmRNSPublication of Suppl.Prospcts
7th Feb 20206:37 pmRNSPublication of Suppl.Prospcts
7th Feb 20206:36 pmRNSPublication of Suppl.Prospcts
7th Feb 20206:34 pmRNSPublication of Suppl.Prospcts
7th Feb 20206:30 pmRNSPublication of Suppl.Prospcts
3rd Feb 202011:30 amRNSTotal Voting Rights
8th Jan 20204:31 pmRNSFundraising Update
8th Jan 20204:20 pmRNSIssue of Equity & Total Voting Rights
20th Dec 20192:15 pmRNSPublication of Suppl.Prospcts
20th Dec 20192:15 pmRNSPublication of Suppl.Prospcts
20th Dec 20192:15 pmRNSPublication of Suppl.Prospcts
20th Dec 20192:15 pmRNSPublication of Suppl.Prospcts
13th Dec 20195:50 pmRNSDividend Declaration
13th Dec 20199:15 amRNSTransaction in Own Shares
27th Nov 20194:15 pmRNSInterim Management Statement - 3rd Quarter Results
27th Nov 20191:52 pmRNSDividend Declaration
26th Nov 20195:00 pmRNSDirectorate Change
19th Nov 201912:00 pmRNSFundraising Update
25th Oct 20194:00 pmRNSPublication of a Prospectus
21st Oct 201912:57 pmRNSDirector Declaration
11th Oct 20193:00 pmRNSResult of Meeting
1st Oct 201910:00 amRNSTotal Voting Rights
27th Sep 201912:00 pmRNSTransaction in Own Shares
10th Sep 20195:00 pmRNSFundraising Update, Circular and General Meetings
10th Sep 20195:00 pmRNSNotice of GM
10th Sep 20195:00 pmRNSNotice of GM
10th Sep 20195:00 pmRNSNotice of GM
14th Aug 201911:05 amRNSNational Storage Mechanism
8th Aug 201910:54 amRNSHalf-year Report
31st Jul 20197:00 amRNSReduction of Capital
29th Jul 201911:00 amRNSShare buyback policy objective
29th Jul 20197:00 amRNSIntention to launch offers for subscription
3rd Jul 201911:33 amRNSRealisation of investment
20th May 20199:28 amRNSTransaction in Own Shares
15th May 201910:16 amRNSTransaction in Own Shares
13th May 201910:10 amRNS1st Quarter Results - Interim Management Statement
10th May 20192:08 pmRNSDirectorate Change
10th May 20192:05 pmRNSResult of AGM
27th Mar 201910:48 amRNSTransaction in Own Shares
26th Mar 201912:33 pmRNSAnnual Financial Report
20th Mar 20194:07 pmRNSAnnual Results for the year ended 31 December 2018
20th Dec 201810:13 amRNSTransaction in Own Shares
26th Nov 20189:23 amRNSTransaction in Own Shares
16th Nov 20189:55 amRNSInterim Management Statement - 3rd Quarter Results
27th Sep 201811:11 amRNSTransaction in Own Shares
15th Aug 20185:09 pmRNSSubmission to the NSM
14th Aug 201811:37 amRNSDividend Investment Scheme - Suspension
14th Aug 201811:15 amRNSDividend Investment Scheme - Suspension
14th Aug 201810:39 amRNSHalf-year Report
20th Jun 201810:31 amRNSIssue of Equity

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