Talon Resources Targets Ontario Gold Growth After AIM Move and Eagle Lake Acquisition, CEO Says. Watch here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMIG4.L Regulatory News (MIG4)

  • There is currently no data for MIG4

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
18th Feb 20159:05 amRNSIssue of Equity
6th Feb 201510:37 amRNSOffer Update
15th Jan 20153:50 pmRNSOffer Update
15th Jan 201512:59 pmRNSDirector/PDMR Shareholding
15th Jan 201512:56 pmRNSDirector/PDMR Shareholding
15th Jan 201512:55 pmRNSDirector/PDMR Shareholding
15th Jan 201512:47 pmRNSIssue of Equity
23rd Dec 201412:33 pmRNSOffer Update
19th Dec 20144:49 pmRNSIssue of Supplementary Prospectus
10th Dec 20145:36 pmRNSOffer for Subscription - Launch
14th Nov 20149:03 amRNSTransaction in Own Shares
11th Nov 20142:08 pmRNSInterim Management Statement
11th Nov 20149:18 amRNSTotal Voting Rights
22nd Oct 20143:05 pmRNSIntention to launch offers for subscription
22nd Oct 201412:00 pmRNSIntention to launch offers for subscription
2nd Oct 20149:12 amRNSTransaction in Own Shares
1st Oct 201412:23 pmRNSTotal Voting Rights
12th Sep 20144:05 pmRNSIssue of Equity
1st Sep 20144:42 pmRNSTotal Voting Rights
19th Aug 201410:46 amRNSNational Storage Mechanism
13th Aug 20144:25 pmRNSHalf Yearly Report
7th Jul 20149:29 amRNSDirector Declaration
25th Jun 20149:54 amRNSTransaction in Own Shares
6th Jun 20142:29 pmRNSIssue of Equity
2nd Jun 20149:39 amRNSOffer Update
2nd Jun 20149:37 amRNSOffer Update
2nd Jun 20149:33 amRNSOffer Update
19th May 20142:21 pmRNSIssue of Equity
16th May 20148:41 amRNSTransaction in Own Shares
14th May 20148:48 amRNSTransaction in Own Shares
12th May 20143:03 pmRNSInterim Management Statement
9th May 20146:01 pmRNSAGM Statement
29th Apr 20143:37 pmRNSOffer Update
16th Apr 20145:39 pmRNSOffer Update
7th Apr 20149:58 amRNSIssue of Equity
4th Apr 20149:19 amRNSIssue of Equity
1st Apr 201411:17 amPRNDirector/PDMR Shareholding
1st Apr 201411:13 amPRNIssue of Equity
26th Mar 201410:40 amPRNSupplementary Prospectus
25th Mar 20149:15 amPRNTransaction in Own Shares
24th Mar 20147:00 amPRNOffer Update
12th Feb 20143:41 pmPRNIssue of Equity
10th Jan 20147:00 amPRNDirector/PDMR Shareholding
9th Jan 20146:01 pmPRNIssue of Equity
19th Dec 20132:15 pmPRNIssue of Supplementary Prospectus
19th Dec 20132:14 pmPRNIssue of Supplementary Prospectus
19th Dec 20132:14 pmPRNIssue of Supplementary Prospectus
19th Dec 20132:13 pmPRNIssue of Supplementary Prospectus
3rd Dec 20139:32 amPRNTotal Voting Rights
29th Nov 20137:00 amPRNJoint Offer for Subscription and Issue of Prospectus

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.