11th Sep 2020 18:03
(Alliance News) - Mobeus Income & Growth VCT PLC on Friday said its net asset value fell during a first half marked by "significant uncertainty and instability" due to Covid-19.
The venture capital trust's net asset value per share at June 30, was down 14% to 58.86 pence from 68.78p at the end of December.
Shares in the company were untraded on Friday in London, last quoted at 49.00p.
"Midway through this half-year, Covid-19 and the UK government's lockdown measures provoked significant uncertainty and instability. This resulted in a significant dip in consumer and business confidence and the public markets saw a sharp fall for the first quarter of the year," Mobeus said.
"Amongst many portfolio initiatives, all investee companies were alerted to, and some utilised, available government support packages. The company also provided loan interest payment holidays to certain portfolio companies, generating vital cash headroom for them during the lockdown period."
By Eric Cunha; [email protected]
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