2nd Jun 2020 17:37
(Alliance News) - Mobeus Income & Growth 4 VCT PLC on Tuesday reported a fall in net asset value in its first-quarter, hit by tough market conditions due to the outbreak of Covid-19.
NAV per share at March 31 came in at 63.30 pence, down 15% from 74.90p in December.
The stock closed untraded at 55.50p each in London on Tuesday.
"The fall in the NAV per share of 11.60p over the quarter was due principally to two factors. Firstly a further interim dividend for the 2019 financial year of 4.00 pence per share was paid on January 10. Secondly, despite the positive impact upon the NAV per share from the sale of Turner TopCo Ltd on February 13, the company's portfolio valuations at have been reduced in response to the economic disruption and market conditions resulting from the outbreak of the Covid-19 global pandemic," the venture capital trust explained.
The company realised its investment in Turner TopCo, an auction marketplace, for GBP5.3 million.
By Eric Cunha; [email protected]
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