Mobeus Income & Growth 2 VCT Plc commences an Equity Buyback Plan for 11,035,300 ordinary shares, representing 14.99% of its issued share capital, under the authorization approved on September 9, 2020.
September 28, 2020 at 12:00 am EDT
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Mobeus Income & Growth 2 VCT Plc (LSE:MIG) commences share repurchases on September 28, 2020, under the program mandated by the shareholders in the Annual General Meeting held on September 9, 2020. As per the mandate, the company is authorized to repurchase up to 11,035,300 ordinary shares, representing 14.99% of its issued share capital. The minimum price which may be paid for an ordinary share is 1 pence and the maximum price which may be paid for any ordinary share shall not be more than the higher of 5% above the average middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the purchase is made and the amount stipulated by article 5(1) of the Buyback and Stabilization Regulation. The repurchased shares will be cancelled. The authority will expire on the date falling fifteen months after the passing of the resolution or, if earlier, at the conclusion of the next Annual General Meeting of the company to be held on 2021, unless previously renewed, varied or revoked by the company in a General Meeting. As of March 31, 2020, the company had 59,689,299 shares in issue and had no shares in treasury.
Mobeus Income & Growth 2 VCT plc is a venture capital trust (VCT). The objective of the Company is to provide investors with a regular income stream by way of tax-free dividends and to generate capital growth through portfolio realizations which can be distributed by way of additional tax-free dividends, while continuing at all times to qualify as a VCT. The Company invests primarily in a diverse portfolio of the United Kingdom unquoted companies. Its investments are usually structured as part loan stock and part equity in order to produce a regular income stream and to generate capital gains from realizations. The Company invests across a range of sectors, which includes software and computer services, retailers, industrial support services, technology, hardware and equipment, travel and leisure, general industries, food producers, construction and materials, consumer services and healthcare. The Companyâs investment adviser is Gresham House Asset Management Limited.
Mobeus Income & Growth 2 VCT Plc commences an Equity Buyback Plan for 11,035,300 ordinary shares, representing 14.99% of its issued share capital, under the authorization approved on September 9, 2020.
MOBEUS INCOME & GROWTH 2 VCT PLC 
