Mobeus Income & Growth 4 VCT PLC Realisation of Investment: Master Removers Group
February 27 2024 - 9:00AM
RNS Regulatory News
RNS Number : 6567E
Mobeus Income & Growth 4 VCT PLC
27 February 2024
Mobeus Income & Growth 4 VCT
plc
(the "Company")
LEI: 213800IFNJ65R8AQW943
Realisation of investment in Master
Removers Group Limited (trading as Ward Thomas Removal
Limited/Aussie Man & Van Limited/Ward Thomas Property
Limited)
The Company is pleased to announce the exit of
portfolio company, Master Removers Group (2019)
Limited, ("MRG") through the sale of its Bishopsgate
business to Elanders AB and alongside this, the sale of its
shares in MRG's domestic removals business to management. The
Company has received £2.91 million in cash from the sale and, to
date, has generated a realised gain over cost during the life of
the investment of £3.47 million, being the equivalent of 3.45 pence
per share. Further sale and contingent proceeds of up to £0.55
million will be receivable in due course. The cash proceeds
received upon completion including amounts still due under the
terms of the sale are not materially different from the value at
which the Company held its investment in MRG.
Including sale proceeds due to be
received by the Company later in the year, cash proceeds received
over the life of the investment will total £5.52 million, against
an original cost of £1.69 million. This represents an IRR of 26%
and a multiple on cost of 3.3x. This multiple on cost will increase
to 3.4x if all potential contingent proceeds are subsequently
received.
For further information, please
contact:
Gresham House Asset Management
Limited,
Company Secretary
+44 (0)20 7382 0999
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