Mobeus Income & Growth 4 VCT plc

Welcome to the webpage of Mobeus Income & Growth 4 VCT plc (formerly Matrix Income & Growth 4 VCT plc). The Company was originally established as a multi-manager VCT in the 1998/99 tax year. 


In the 2006/2007 tax year, the Company changed its name and investment strategy and launched a new share issue that raised £14.5 million, net of issue costs. The VCT has been solely managed by Mobeus Equity Partners since 2006.

Mobeus Income & Growth VCT plc Mobeus Income & Growth 2 VCT plc Mobeus Income & Growth 4 VCT plc Live Share Price Dividends Fund's Top 10 Investments Directors & Advisers

Fund's Board of Directors and advisers, including the Investment Adviser and the Registrar

Key Shareholder Information

Company's Annual and Half-Year Reports, AGM Notices, Key Information documents

Corporate Governance

Corporate Governance, Compliance with AIC Code, Terms of reference and Policies

The Income & Growth VCT plc
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Key facts

Date Launched

January 1999

Company Number

03707697

Investment Adviser

Mobeus Equity Partners LLP

Auditor

BDO LLP

Registered Office

30 Haymarket, London SW1Y 4EX

Directors

Jonathan Cartwright

Helen Sinclair

Graham Paterson

Chris Burke

Registrar

Link Asset Services

LSE Code

MIG4

Fund Performance

Latest published
valuation		 Net assets
(£m)		 Net asset value
(pence per share)		 Total dividends paid
(pence per share)		 NAV cumulative total return
(pence per share)
30 Jun 2020 54.6 64.6 134.2 198.8

Please click on the options below to access further information on your fund's performance:
NOTE: All figures are adjusted from when a dividend has become ex-div in the period after which a NAV has been announced.

Reviewing the performance of your investment

Use the attached table to see how your investment has performed (including the dividends you have received) from the date on which your shares were allotted.

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Cumulative dividends paid
since launch
134.2
(p)
Dividends paid in respect
of current financial year
6.0
(p)
In respect of financial year
Paid in financial year

Dividends paid per share in respect of financial year

Dividend paid per share

Dividends paid per share in financial year

Dividend paid per share
Show Detailed Payment History
Payment Date In respect of y/e Type Dividends paid per
share (p)
07 May 2020 31/12/2020 Interim 6.0
10 Jan 2020 31/12/2019 Interim 4.0
30 Dec 2019 31/12/2019 Interim 2.0
20 Sep 2019 31/12/2019 Interim 13.0
28 May 2019 31/12/2018 Final 4.0
19 Jun 2018 31/12/2018 Interim 4.0
21 Dec 2017 31/12/2017 Interim 3.0
11 Sep 2017 31/12/2017 Interim 18.0
17 Mar 2017 31/12/2016 Interim 7.0
08 Sep 2016 31/12/2016 Interim 2.0
25 May 2016 31/12/2015 Final 9.0
25 Sep 2015 31/12/2015 Interim 2.0
06 May 2015 31/12/2014 Special 8.0
12 Sep 2014 31/12/2014 Interim 14.0
16 May 2014 31/12/2013 Final 4.0
20 Sep 2013 31/12/2013 Interim 2.0
10 May 2013 31/12/2012 Interim 5.5
06 Jun 2012 31/12/2012 Interim 5.0
24 Jun 2011 31/12/2011 Final 3.0
05 Nov 2010 31/12/2011 Interim 1.0
09 Jun 2010 31/12/2010 Final 2.0
07 Nov 2009 31/12/2010 Interim 1.0
10 Jun 2009 31/12/2009 Final 1.0
07 Nov 2008 31/12/2009 Interim 1.0
11 Jun 2008 31/12/2008 Final 1.3
08 Nov 2007 31/12/2008 Interim 0.8
26 Oct 2006 31/12/2007 Interim 1.8
07 Jun 2006 31/12/2006 Final 0.5
08 Jun 2005 31/12/2005 Final 0.2
09 Jun 2004 31/12/2004 Final 0.5
29 May 2003 31/12/2003 Final 0.5
17 Jun 2002 31/12/2002 Final 1.0
16 Jul 2001 31/12/2001 Final 3.1
31 Jan 2000 31/12/2000 Final 3.1
Total dividends paid since launch 134.2

Restatement of dividends following capital reorganisation

Dividend payment amounts from inception up until 26 October 2006 have been re-stated following a capital reorganisation in October 2006. 

 

Dividend Investment Scheme

The Scheme provides shareholders with the opportunity to reinvest their cash dividends into new shares in the VCT. New VCT shares attract the same tax reliefs as shares purchased through an Offer for Subscription.  The Scheme was suspended on 14 August 2018.

Please note that the Company decided to recommence the Scheme effective from 2 June 2020.

As part of the Board’s consideration to recommence the Scheme, it carried out a review of the Scheme Rules and made certain amendments as set out below:

KEY CHANGE: to amend the price at which new shares will be issued under the Scheme to the latest published net asset value per existing share, as is the current market practice, rather than, as previously, at the higher of 70% of the net asset value per share or the mid-market price per share (which, in practice, resulted in shares being issued at an effective discount to net asset value per share of 10%). The other changes are largely procedural updates in nature.

 

Existing Participants (joined prior to 16 April 2020):

Existing participants of the Scheme will shortly be receiving notice of the proposed changes to the Scheme Rules, which will take effect on 2 June 2020 (this being the date of recommencement) and will apply to all dividends paid by the Company after that date.

Existing participants who wish to continue participating in the Scheme do not need to take any action.

If participants would like to withdraw from the Scheme they must give notice in writing to the Scheme Administrator (Corporate Actions Department, Link Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU) in accordance with the provisions of the Scheme Rules.

 

New Participants (joined from 16 April 2020 onward):

Any new participants of the Scheme will be subject to the new Scheme Rules (see below).

Shareholders can elect to join the Scheme by sending their mandate forms (see below) by post to the Scheme Administrator -

Link Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU

telephone: 0371 664 0324. Calls are charged at the standard geographic rate and will vary by provider. Calls from outside the United Kingdom are charged at the applicable international rate.

Lines are open 9.00 am – 5.30 pm Mon – Fri, excluding public holidays in England and Wales.

 

Rules and Documents:

The Scheme Rules for the Scheme and a mandate form can be downloaded via the links below: 

New Scheme Rules - Applicable to all New Participants immediately, and for Existing Participants from 2 June 2020.

Changes to Terms & Conditions

Mandate Form

 

 

Net asset value per share
as at 30 Jun 2020*
64.6
(p)
Net asset value cumulative total return
per share since launch*
198.8
(p)

* adjusted for dividends paid since this date

Latest

Period End Net asset
(£m)		 Net asset
value per share
(pence per share)		 Cumulative dividends
paid per share
(pence per share)		 Net asset value
cumulative total return
(pence per share)
30 Jun 2020 54.6 64.6 134.2 198.8

Note: All figures are adjusted from when a dividend has become ex-div in the period after which a NAV has been announced.

Show current and historical data
Period End Net asset
(£m)		 Net asset
value per share
(pence per share)		 Cumulative dividends
paid per share
(pence per share)		 Net asset value
cumulative total return
(pence per share)
31 Dec 2019 50.0 74.9 124.2 199.1
31 Dec 2018 57.9 84.8 105.2 190.0
31 Dec 2017 58.4 86.6 101.2 187.8
31 Dec 2016 52.8 107.6 73.2 180.8
31 Dec 2015 57.0 117.9 62.2 180.1
31 Dec 2014 50.3 118.2 52.2 170.4
31 Dec 2013 42.1 119.9 34.2 154.1

NAV Cumulative Total Return

The following chart shows the net asset value cumulative total return at the end of the financial year (net asset value plus cumulative dividends paid since inception) expressed as pence per share.

Net asset value plus cumulative dividends paid per share (p)
NAV Cumulative total return over five years to 31 Dec 2019 %
24.3
(%)
NAV Cumulative Total Return since launch* to 31 Dec 2019 %
67.4
(%)

* - Since launch defined as when Mobeus became sole Investment Adviser to the Company on 31 July 2006, at that date the NAV was 113.61 pence.

Year End Annual NAV cumulative total return%
31 December 2019 10.7%
31 December 2018 2.6%
31 December 2017 6.5%
31 December 2016 0.6%
31 December 2015 8.2%

Objective

The 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 realisations which can be distributed by way of additional tax-free dividends, while continuing at all times to qualify as a VCT.

Investment policy

The Investment Policy is designed to meet the Company’s objective:

Investments

The Company invests primarily in a diverse portfolio of UK unquoted companies. Investments are made selectively across a number of sectors, principally in established companies. Investments are usually structured as part loan stock and part equity in order to produce a regular income stream and to generate capital gains from realisations.

There are a number of conditions within the VCT legislation which need to be met by the Company and which may change from time to time. The Company will seek to make investments in accordance with the requirements of prevailing VCT legislation.

Asset allocation and risk diversification policies, including the size and type of investments the Company makes, are determined in part by the requirements of prevailing VCT legislation. No single investment may represent more than 15% (by VCT tax value) of the Company’s total investments at the date of investment.

Liquidity

The Company’s cash and liquid funds are held in a portfolio of readily realisable interest bearing investments, deposit and current accounts, of varying maturities, subject to the overriding criterion that the risk of loss of capital be minimised.

Borrowing

The Company’s articles of association permit borrowings of amounts up to 10% of the adjusted capital and reserves (as defined therein). However, the Company has never borrowed and the Board would only consider doing so in exceptional circumstances.

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