Mobeus Income & Growth 4 VCT plc commences an Equity Buyback Plan for 12,592,202 shares, representing 14.99% of its issued share capital, under the authorization approved on May 18, 2021.
May 25, 2021 at 05:00 am
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Mobeus Income & Growth 4 VCT plc (LSE:MIG4) commences share repurchases on May 25, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 18, 2021. Under the plan, the company will repurchase up to 12,592,202 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for each ordinary share will be 1 penny. The maximum price which may be paid for each ordinary share shall be the higher of an amount equal to 5% above the average of the middle market quotations for a share in the company taken from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the share is contracted to be purchased and (b) the price stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation (EC 2273/2003). This program will expire at the conclusion of the next Annual General Meeting to be held in 2022, unless previously renewed or revoked. As of December 31, 2020, the company had 84,004,018 ordinary shares in issue and had no shares in treasury.
Mobeus Income & Growth 4 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 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. The Company invests in various sectors, including software and computer services, retailers, industrial support services, technology, hardware and equipment, healthcare services, consumer services, travel and leisure, general industrials, food producers, media and construction and materials. Gresham House Asset Management Limited is the investment adviser of the Company.
Mobeus Income & Growth 4 VCT plc commences an Equity Buyback Plan for 12,592,202 shares, representing 14.99% of its issued share capital, under the authorization approved on May 18, 2021.