Mobeus Income & Growth 2 VCT PLC Net Asset Value(s) (7945H)
March 27 2020 - 3:00AM
UK Regulatory
TIDMMIG
RNS Number : 7945H
Mobeus Income & Growth 2 VCT PLC
26 March 2020
26 March 2020
Mobeus Income & Growth 2 VCT plc (the "Company")
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulations (EU Regulation
596/2014)
Net Asset Value ('NAV')
The Board of Mobeus Income & Growth 2 VCT plc together with
the Investment Adviser, Mobeus Equity Partners LLP ("Mobeus"), have
been monitoring the disruption caused by COVID-19 and, in
particular, its impact on the Company's portfolio of companies.
Following a review of the portfolio, the Board announces that
the unaudited NAV of the Company is 84.66 pence per share as at 24
March 2020 (unaudited NAV per share at 31 December 2019 - 92.37
pence per share). The NAV reduction is generally across the
portfolio which is carried at fair value as determined by the Board
and advised by the Investment Adviser, Mobeus, as a result of the
market conditions arising from the Coronavirus (Covid-19) pandemic,
partially offset by the gain from the sale of Turner Topco Limited
which was announced on 14 February 2020.
On 27 March 2020 the Company will pay a dividend of 11p per
share, reducing the unaudited NAV of 84.66 pence per share to 73.66
pence per share. This figure will be the basis of the allotment
price on 1 April 2020.
In relation to the offer for new shares pursuant to the
prospectus dated 25 October 2019 (the "Offer"), the Company intends
to allot these shares on or around 1 April 2020. The Company also
intends, subject to FCA approval, to publish a supplementary
prospectus reflecting the fact that the publication of the updated
unaudited NAV as at 24 March 2020 reflects a significant new factor
for consideration by prospective investors.
For further information, please contact:
Robert Brittain, for Mobeus Equity Partners LLP, Company
Secretary 020 7024 7616
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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