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20 May 2024 07:00
MOBEUS INCOME & GROWTH VCT PLC
("the Company")
LEI: 213800HKOSEVWS7YPH79
INTERIM MANAGEMENT STATEMENT
For the quarter ended 31 March 2024
Mobeus Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 31 March 2024. 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 2024 (unaudited) | At 31 December 2023 (audited) |
Net assets attributable to shareholders | £97.00 million | £95.99 million |
Shares in issue | 164,285,230 | 164,285,230 |
Net asset value (NAV) per share | 59.04 pence | 58.43 pence |
Cumulative dividends paid | 166.30 pence | 166.30 pence |
Cumulative Total return (net asset value basis) per share since inception | 225.34 pence | 224.73 pence |
The NAV per share has increased by 0.61 pence in the quarter (an increase of 1.0% from the NAV per share at 31 December 2023).
INVESTMENT ACTIVITY DURING THE PERIOD
New Investment during the period
On 19 March 2024, the Company completed a new investment of £0.71 million into SciLeads Limited, a data-intelligence platform within the life science sector.
Further Investments during the period
On 10 January 2024, a follow on investment of £0.55 million was made into MyTutorWeb Limited (trading as MyTutor), a digital marketplace for online tutoring.
On 25 March 2024, a follow on loan investment of £0.08 million was made into Orri Limited, specialists in eating disorder support.
Realisations during the period
On 15 February 2024, proceeds of £3.49 million were received in respect of the sale of Master Removers Group 2019 Limited (trading as Anthony Ward Thomas, Bishopsgate and Aussie Man & Van). These proceeds contributed to a multiple on cost of 3.3x over the life of this investment. Further proceeds may be receivable in due course.
INVESTMENT ACTIVITY AFTER THE PERIOD END
Further Investments after the period end
On 3 May 2024, the Company completed a follow on investment of £1.79 million into Data Discovery Solutions Limited (trading as ActiveNav), a provider of data discovery solutions for compliance and information governance.
SHARE BUYBACK AFTER THE PERIOD END
On 25 April 2024, the Company purchased 1,417,646 of its own ordinary shares at a price of 55.51 pence per share.
All shares bought back by the Company were subsequently cancelled.
DIVIDEND DECLARED AFTER THE PERIOD END
On 24 April 2024, an interim dividend of 4.00 pence per share in respect of the year ending 31 December 2024 was declared and will be paid on 31 May 2024 to all Shareholders whose names were on the register on 3 May 2024. Payment of this interim dividend will reduce NAV per share (shown above) to 55.04 pence and increase cumulative dividends paid to 170.30 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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