Mobeus Income & Growth 4 VCT PLC Interim Management Statement (3752Y)
May 16 2016 - 9:42AM
UK Regulatory
TIDMMIG4
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 At 31 December
2016 2015
Net assets attributable GBP57,475,794 GBP57,007,782
to shareholders
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 GBP0.84 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 GBP0.37 million was
received in respect of an earlier disposal of an investment.
LOAN STOCK REPAYMENTS
The VCT received GBP0.90 million of loan repayments in the
quarter, GBP0.84 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 GBP0.06 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
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