Mobeus Income & Growth VCT Plc commences an Equity Buyback Plan for 19,151,194 shares, representing 14.99% of its issued share capital, under the authorization approved on May 10, 2021.
June 25, 2021 at 12:00 am EDT
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Mobeus Income & Growth VCT Plc (LSE:MIX) commences share repurchases on June 25, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 10, 2021. As per the mandate, the trust will repurchase up to 19,151,194 ordinary shares, representing 14.99% of the issued share capital. The minimum price which may be paid for ordinary shares is 1 pence per share and the maximum price which may be paid for an ordinary share is not more than the higher of 5% above the average of the middle market quotations for the ordinary shares derived from the Daily Official List of the LSE for the five business days immediately preceding the day on which that ordinary share is purchased. The authority shall expire on the date falling 15 months after passing this resolution or on the conclusions of the next Annual General Meeting to be held in 2021, whichever is earlier. As of April 7, 2020, the company had 104,526,507 shares in issue and had no shares in treasury.
Mobeus Income & Growth VCT plc is a United Kingdom-based venture capital trust (VCT). The investment objective of the Company is to provide investors with a regular income stream by way of tax-free dividends generated from income and capital returns, while continuing at all times to qualify as a VCT. The Company invests primarily in a diverse portfolio of United Kingdom unquoted companies. The Company invests in various sectors, including pharmaceuticals, leisure goods, general financial, construction and materials, general industrials, food producers, consumer services, technology, hardware and equipment, travel and leisure, media, industrial support services, software and computer services, and retailers. Gresham House Asset Management Limited is the investment advisor of the Company.
Mobeus Income & Growth VCT Plc commences an Equity Buyback Plan for 19,151,194 shares, representing 14.99% of its issued share capital, under the authorization approved on May 10, 2021.