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14 Nov 2022 16:00
Mobeus Income & Growth 4 VCT plc
("the Company")
LEI: 213800IFNJ65R8AQW943
INTERIM MANAGEMENT STATEMENT
For the quarter ended 30 September 2022
Mobeus Income & Growth 4 VCT plc presents an Interim Management Statement for the quarter ended 30 September 2022. 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 30 September 2022 (unaudited) | At 30 June 2022 (unaudited) |
Net assets attributable to shareholders | £78.93 million | £86.13 million |
Shares in issue | 91,244,441 | 90,990,361 |
Net asset value (NAV) per share | 86.50 pence | 94.66 pence |
Cumulative dividends paid | 147.20 pence | 143.20 pence |
Cumulative Total return (net asset value basis) per share since inception | 233.70 pence | 237.86 pence |
The NAV per share has decreased by 8.16 pence in the quarter (a decrease of 8.6% from the opening NAV per share). This decrease arises both from the 4.00 pence per share dividend paid in July 2022 as well as a fall in unrealised valuations. On a total return basis, after adding back the dividend of 4.00 pence per share, the decrease is 4.4%.
OFFER FOR SUBSCRIPTION
On 17 October 2022, the Company took part in a Joint Offer for Subscription ("Offer") alongside the other Mobeus VCTs seeking to raise an initial amount of £11 million for the Company with an over-allotment facility of £5 million available. Following strong demand for the Offer, the Directors approved the utilisation of the over-allotment facility later on 17 October 2022. As stated in the Prospectus, the first allotment under the Offer in relation to applications accepted for the initial amount is expected on or around 16 November 2022. Accepted applications by the Company for the over-allotment facility will be allotted in January 2023.
DIVIDENDS PAID/DECLARED IN THE PERIOD
On 8 July 2022, an interim dividend of 4.00 pence per share in respect of the year ending 31 December 2022 was paid to all Shareholders whose names were on the register on 27 May 2022.
A second interim dividend of 6.00 pence per share in respect of the year ending 31 December 2022 was declared on 13 September 2022. This was paid on 7 November 2022 to those Shareholders on the Register of Members on 23 September 2022. Payment of this second interim dividend has reduced NAV per share (shown above) to 80.50 pence and increased cumulative dividends paid to 153.20 pence per share.
DIVIDEND INVESTMENT SCHEME ("DIS")
On 8 July 2022, 586,156 shares were allotted through the DIS during the period at a price of 98.69 pence per share.
INVESTMENT ACTIVITY DURING THE PERIOD
New Investment during the period
On 9 September 2022, the Company completed a new investment of £0.50 million into Focalpoint Positioning Limited, a navigation and positioning technology company.
On 12 September 2022, a new investment of £0.44 million was made into Orri Limited, a provider of specialist eating disorder treatments.
Follow-on investments during the period
On 5 July 2022, a follow on investment of £0.62 million was made into Vivacity Labs Limited, an AI and urban traffic control business.
On 23 August 2022, a follow on investment of £0.33 million was made into Bleach London Holdings Limited, a hair colourants brand.
Loan repayments and other proceeds during the period
The Company received deferred consideration of £0.04 million from Media Business Insight Holdings Limited, an investment realised in a prior quarter.
Share buy-backs
On 23 September 2022, the Company purchased 332,076 of its own ordinary shares at a price of 80.43 pence per share.
All shares bought back by the Company were subsequently cancelled.
ACTIVITY AFTER THE PERIOD END
Loan Repayments and other proceeds
On 21 October 2022, a loan repayment (including premium) from Jablite Holdings Limited of £0.05 million was received.
Share buy-backs
On 7 October 2022, the Company purchased 338,012 of its own ordinary shares at a price of 80.43 pence per share.
All shares bought back by the Company were subsequently cancelled.
DIVIDEND INVESTMENT SCHEME ("DIS")
On 7 November 2022, 1,129,699 shares were allotted through the DIS at a price of 80.50 pence per share.
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:
Gresham House Asset Management Limited
Company Secretary: 020 7382 0999
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