Mobeus VCT Share Offers reach £39 million target early
Mobeus VCT Fundraising
Mobeus announces its VCT Share Offers have raised their £39 million target and the Offers have now closed fully subscribed. The target was reached in under three months from launch on 10 December 2014.
The Mobeus VCT Offers have proved to be the most popular VCT fundraising in the current tax year, attracting 18% of the £204 million subscribed as at 26 February 2015 according to data published by leading independent commentator, Tax Efficient Review.
Appetite to invest in VCTs has been strong this year as investors have sought attractive tax-free yields in an environment of low returns for savers and limits on pension contributions for higher earners. Mobeus’s Managing Partner, Mark Wignall, believes that investors were attracted to invest in the Offers by the Mobeus VCTs’ strong past performance track records and dividend payment histories. The Mobeus VCTs sold seven businesses in 2014, enabling them to pay out exceptional levels of dividends in the past year of between 14 and 17 pence.
Wignall commented: “We’ve experienced very strong demand for the fundraising and subscriptions have been running at more than double last year’s volumes. The VCT scheme continues to enjoy strong Government support and it’s clear that many private investors see VCTs as an attractive way to invest in UK smaller companies."
Mobeus is a leading UK VCT adviser with over £240 million funds under management, and is an active investor in privately-owned UK smaller businesses.
Since the beginning of 2014, the Mobeus VCTs have invested more than £45 million in eight companies, covering a wide range of industry sectors:
Bourn Bioscience – In vitro fertilisation clinics
Entanet –Wholesale communications provider
Racoon – Beauty products
MBI – Publishing and events
ASL – Printing and copier solutions
Anthony Ward Thomas – Logistics and storage
Tharstern – MIS software solutions
CGi – Vinyl graphics provider
<span 1.3em;"="">Since the beginning of 2014, the Mobeus VCTs have made seven divestments, yielding more than £60 million profits:
MachineWorks – CAM software
ATG Media – Online auction platform
DiGiCo – Audio mixing desks
Monsal – Specialist contractor
Focus Pharmaceuticals – Generic pharmaceuticals
Youngman – Ladder Manufacturer
EMaC – Outsourced car service plans