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Interim Management Statement

16 May 2016 14:42

RNS Number : 3752Y
Mobeus Income & Growth 4 VCT PLC
16 May 2016
 

 

Mobeus Income & Growth 4 VCT plc ("the Company")

 

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 March 2016

 

Mobeus Income & Growth 4 VCT plc reports an Interim Management Statement for the quarter ended 31 March 2016. 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 31 March 2016

At 31 December 2015

Net assets attributable to shareholders

£57,475,794

£57,007,782

Shares in issue

48,356,210

48,356,210

Net asset value (NAV) per share

118.86p

117.89p

Cumulative dividends paid

62.20p

62.20p

Cumulative Total return (net asset value basis) per share since inception

181.06p

180.09p

 

 

The net asset value per share has increased by 0.97 pence over the quarter, due mainly to income returns for the quarter and receipt of some deferred consideration.

 

DIVIDENDS

A final dividend of 9.00 pence per share comprising 7.50 pence from capital and 1.50 pence from income in respect of the year ended 31 December 2015 was approved by shareholders at the Company's Annual General Meeting held at noon today, payable on 25 May 2016. This is in addition to the interim dividend of 2.00 pence per share (comprising 1.00 pence from capital and 1.00 pence from income) paid to shareholders on 25 September 2015. Payment of this final dividend will bring total dividends paid in respect of 2015 to 11.00 pence per share and cumulative dividends paid since inception to 71.20 pence per share. Payment of the 9.00 pence per share final dividend will reduce the NAV per share above to 109.86 pence.

 

UPDATE ON VCT LEGISLATION ("new VCT Rules")

As noted in the Company's recent Annual Report, the new VCT Rules included measures that will change significantly the size and type of investments the Company can make. The Company is no longer permitted to fund MBO investments, but has changed focus to provide growth and development capital to younger, earlier stage companies. Further HMRC guidance on the detailed application of the new VCT Rules has been published recently, which the Investment Adviser is currently reviewing.

 

 

NEW INVESTMENT

In February 2016, one of the VCT's companies preparing to trade invested £0.84 million into Redline Assured Security Limited, a market leader in the provision of security consultancy and training services to airlines, airports, governments and global distribution companies.

 

This is the first new investment made by the Company in compliance with the new VCT Rules.

 

NEW INVESTMENT POLICY

Shareholders also approved the Company's new Investment Policy at today's AGM. The new Policy was prepared in response to the new VCT Rules and enables the Company to continue making investments that comply with them.

 

DIVESTMENTS

No divestments occurred during the quarter to 31 March 2016, although further deferred consideration of £0.37 million was received in respect of an earlier disposal of an investment.

 

LOAN STOCK REPAYMENTS

The VCT received £0.90 million of loan repayments in the quarter, £0.84 million of which was a final loan stock repayment from Leap New Co Limited (trading as Ward Thomas Removals, Bishopsgate and Aussie Man & Van).

 

In April 2016, the VCT received further loan repayments from Jablite of £0.06 million.

 

SHARE BUYBACKS

The Company did not conduct any share buybacks during the period.

 

 

 

For further information, please contact:

Jonathan McGuire, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7615.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCXQLFFQEFZBBF
Date   Source Headline
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
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1st Jul 20099:27 amPRNTransaction in Own Shares
21st May 20092:22 pmPRNInterim Management Statement
21st May 20092:19 pmPRNResult of AGM
30th Apr 20094:50 pmPRNTotal Voting Rights
28th Apr 20099:43 amPRNTransaction in Own Shares
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20th Apr 20094:06 pmPRNDoc re Annual Report for the year ended 31 January 2009
8th Apr 20094:29 pmPRNFinal Results
29th Jan 20095:55 pmPRNTotal Voting Rights
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23rd Dec 20085:21 pmPRNTransaction in Own Shares
17th Dec 20084:23 pmPRNTransaction in Own Shares
3rd Dec 20083:32 pmPRNChange of Adviser
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7th Oct 20082:42 pmPRNDoc re Half-Yearly Report
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29th Sep 200812:05 pmPRNTransaction in Own Shares
31st Jul 20089:43 amPRNTotal Voting Rights
29th Jul 20084:15 pmPRNRevocation of investment company status
28th Jul 200811:10 amPRNTransaction in Own Shares
30th Jun 20089:55 amPRNTotal Voting Rights
24th Jun 200810:11 amPRNChange of Registered Office
4th Jun 20084:41 pmPRNTransaction in Own Shares
21st May 20083:13 pmPRNResult of AGM
2nd May 20084:01 pmPRNTransaction in Own Shares
21st Apr 20083:54 pmPRNAnnual Information Update
1st Apr 20086:24 pmPRNFinal Results
31st Jan 20084:49 pmPRNTotal Voting Rights
31st Jan 20084:41 pmPRNTransaction in Own Shares
31st Dec 200710:03 amPRNTotal Voting Rights
18th Dec 20074:50 pmPRNTransaction in Own Shares
18th Dec 20077:00 amPRNTransaction in Own Shares
13th Dec 200710:01 amPRNRealisation of investment
28th Nov 20075:39 pmPRNInterim Management Statement
1st Nov 20073:22 pmPRNTotal Voting Rights
1st Nov 20073:19 pmPRNTransaction in Own Shares
28th Sep 20074:34 pmPRNHalf-yearly Report
24th Aug 200711:41 amPRNNet Asset Value(s)
1st Aug 20074:31 pmPRNTotal Voting Rights
1st Aug 20074:27 pmPRNTransaction in Own Shares

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