MOBEUS INCOME & GROWTH 2 VCT PLC
("the Company")
LEI: 213800LY62XLI1B4VX35
INTERIM MANAGEMENT STATEMENT
For the quarter ended 31 December 2022
Mobeus Income & Growth 2 VCT plc presents an Interim Management Statement for the quarter ended 31 December 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 31 December 2022 (unaudited) | At 30 September 2022 (unaudited) |
| Net assets attributable to shareholders | £70,433,343 | £68,459,466 |
| Shares in issue | 89,496,349 | 80,022,131 |
| Net asset value (NAV) per share | 78.70 pence | 85.55 pence |
| Cumulative dividends paid | 140.00 pence | 134.00 pence |
| Cumulative Total return (net asset value basis) per share since inception | 218.70 pence | 219.55 pence |
NAV total return per share, after adding back the dividend of 6.00 pence per share paid in November 2022, has decreased by 1.0% in the quarter ended 31 December 2022. However, the NAV per share has decreased by 6.85 pence in the quarter (an 8.0% decrease).
INVESTMENT ACTIVITY DURING THE PERIOD
Partial realisation during the period
On 24 November 2022, the Company sold its equity investment in EOTH Limited. The Company received £4.33 million in cash from the sale (including accrued preference dividends). Total proceeds received to date over the seven and a half year life of the investment were £5.64 million compared to an original investment cost of £0.82 million, a multiple on cost of 6.9x and an IRR of 23.2%.
Loan repayment during the period
On 21 October 2022, the Company received a loan repayment of £0.37 million from Jablite Holdings Limited.
DIVIDEND PAID DURING THE PERIOD
On 7 November 2022, an interim dividend of 6.00 pence per share in respect of the year ending 31 March 2023 was paid to all Shareholders whose names were on the register on 30 September 2022.
FUNDRAISING
On 5 October 2022 the Company launched an Offer for Subscription of £16 million (including over-allotment amount), alongside Offers from the other Mobeus VCTs. The Company received subscriptions amounting to the full amount within the quarter and was subsequently then closed to further applications. In accordance with the Offers' prospectus, in respect of the initial amount, an allotment of 9,693,230 Ordinary shares took place on 16 November 2022 raising net funds (after costs) of £7.71 million for the Company. In respect of the over-allotment amounts, a second allotment of 9,782,440 Ordinary shares took place on 6 February 2023 raising net funds (after costs) of £7.70 million for the Company.
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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