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8 May 2017 15:02
Mobeus Income & Growth 4 VCT plc ("the Company")
Legal Entity Identifier (LEI): 213800IFNJ65R8AQW943
INTERIM MANAGEMENT STATEMENT
For the quarter ended 31 March 2017
Mobeus Income & Growth 4 VCT plc reports an Interim Management Statement for the quarter ended 31 March 2017. 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 2017 | At 31 December 2016 | |
Net assets attributable to shareholders | £50,867,779 | £52,755,156 |
Shares in issue | 49,749,171 | 49,043,033 |
Net asset value (NAV) per share | 102.25p | 107.57p |
Cumulative dividends paid | 80.20p | 73.20p |
Cumulative Total return (net asset value basis) per share since inception | 182.45p | 180.77p |
The NAV per share fell by 5.32 pence over the quarter, principally due to the payment of 7.00 pence per share in dividends in the quarter, referred to below. The underlying increase in NAV per share was due to an increase in the value of the portfolio and income returns.
DIVIDENDS
A second interim dividend of 7.00 pence per share for the year ended 31 December 2016 was paid on 17 March 2017. This brought the dividends paid in respect of the year ended 31 December 2016 to 9.00 pence per share and cumulative dividends paid since inception to 80.20 pence per share.
DIVIDEND INVESTMENT SCHEME
Under the Dividend Investment Scheme a total of 706,138 ordinary shares were issued to shareholders wishing to reinvest their dividends on 17 March 2017. Following the share issue there were 49,749,171 ordinary shares in issue.
NEW INVESTMENT
The Company made two new investments in the quarter. The first of these was a £0.58 million investment in January 2017 into Ibericos Etc (trading as Tapas Revolution), a leading Spanish restaurant chain in the casual dining sector. The second was a £0.53 million investment in March 2017 into Buster & Punch, a premium brand business which designs a range of high quality lighting and electrical fittings for the home.
Finally, a loan envisaged when the initial investment in BookingTek Limited was made in October 2016, was advanced for £0.07 million.
DIVESTMENTS
No divestments occurred during the quarter to 31 March 2017, although sundry receipts of £0.17 million were received, of which £0.08 million was further deferred consideration in respect of earlier disposals of two investments realised in a prior period, being Focus Pharma and MachineWorks.
LOAN STOCK REPAYMENTS
The VCT received £4.36 million of loan repayments in the quarter.
SHARE BUYBACKS
The Company did not conduct any share buybacks during the period.
ANNUAL GENERAL MEETING
The Company is pleased to announce that all the resolutions proposed at the Annual General Meeting of the Company held today, 8 May 2017, were approved by shareholders.
For further information, please contact:
Jonathan McGuire, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7615.
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