Mobeus - Intention to launch offers
Posted: May 24th, 2017, 7:23 pm
A commendably early statement of intent this afternoon, although I was not expecting Mobeus to be in a position at this stage to state that they will need further cash in 2017/2018, so it came as a surprise to me. None of their VCTs have tapped the market since 2014/15, but they all have pretty significant current cash piles.
I actually thought that the VCTs might be compelled to return more cash to shareholders this year by way of bumper dividends, because of the rate at which they are currently deploying those funds (in fairness, pretty good). I raised exactly that point at a recent Mobeus AGM. It will be very interesting to see how much they are looking for and the supporting investment case. If it stacks up, I will be up for it because I rate the manager.
I actually thought that the VCTs might be compelled to return more cash to shareholders this year by way of bumper dividends, because of the rate at which they are currently deploying those funds (in fairness, pretty good). I raised exactly that point at a recent Mobeus AGM. It will be very interesting to see how much they are looking for and the supporting investment case. If it stacks up, I will be up for it because I rate the manager.