The Lemon Fool

Posted: **February 17th, 2021, 6:48 pm**

Mobeus are planning to exit from their 42% holding in Virgin Wine in a placement/IPO expected 2 March. Sell side analysts apparently trying to value Virgin Wine at £100m. I have my fingers crossed they are successful. Naked Wine valued around £585m appear to have 2.5x VW Sales. I can’t fathom where Naked profitability might be as they use different definitions of EBIT than I have in my dictionary.

Posted: **February 22nd, 2021, 11:07 pm**

And now Parsley Box exploring an £80m float. Mobeus had 22% as far as I could tell but they did participate in another funding round only in January. Private valuations seem much more conservative than listed cousins. Mobeus may have 2 runners in the VCT exit of the year and it’s only February!

Posted: **February 23rd, 2021, 11:14 pm**

Mainwaring wrote:And now Parsley Box exploring an £80m float. Mobeus had 22% as far as I could tell but they did participate in another funding round only in January. Private valuations seem much more conservative than listed cousins. Mobeus may have 2 runners in the VCT exit of the year and it’s only February!

As both a shareholder in MIG4 and a very satisfied customer of Parsley Box I welcome this very much and have registered to be informed of the IPO when it happens.

If any readers want to try Parsley Box's excellent meals you can get 50% off your first order by quoting discount code 7ZVXR9V. The 10 Meal Express Delivery Selection is not a bad place to start.

For disclosure, I will also get loyalty points if you use this code.

Gostevie

Posted: **February 25th, 2021, 11:16 am**

Following the announcement this morning VINO would be valued at £110m. Mobeus appear to have rolled over a substantial stake and not cashed out/not been able to cash out at this stage. Someone Sold c40,000 IGV this morning at 72.5p. I guess they are not Lemonfools. :roll:

An hour later Mobeus issued an RNS to say that the NAV would increase assuming the Placing goes ahead on 2 March as planned, promising so say how much next week!

Posted: **March 2nd, 2021, 12:41 pm**

Mainwaring wrote:Following the announcement this morning VINO would be valued at £110m. Mobeus appear to have rolled over a substantial stake and not cashed out/not been able to cash out at this stage. Someone Sold c40,000 IGV this morning at 72.5p. I guess they are not Lemonfools. An hour later Mobeus issued an RNS to say that the NAV would increase assuming the Placing goes ahead on 2 March as planned, promising so say how much next week!

From Mobeus 4 (MIG4) RNS today:-

The Company holds 4,627,424 shares in Virgin Wines. Based upon the Placing Price of £1.97 per share, the Company's equity investment in Virgin Wines is valued at £9.12 million. This represents an uplift in valuation of £4.64 million, compared to that included in the Company's unaudited Net Asset Value ("NAV") per share at 31 December 2020 as above. In isolation, the impact of this uplift in valuation upon the Company's unaudited NAV per share as at 31 December 2020 is an increase of 5.53 pence per share.

The MIG4 share price is currently up by 9.5p today (13.77%)

From Income & Growth (IGV) RNS today:-

The Company holds 6,579,930 shares in Virgin Wines. Based upon the Placing Price of £1.97 per share, the Company's investment in Virgin Wines is valued at £12.96 million and represents a significant uplift in valuation of £6.60 million, compared to that included in the Company's Net Asset Value ("NAV") per share at 31 December 2020. In isolation, the impact of this uplift in valuation upon the Company's NAV per share as at 31 December 2020 of 79.17 pence is an increase of 5.58 pence per share.

The IGV share price is currently up 1.0p (1.33%) today

From Mobeus (MIX) RNS today:-

The Company holds 5,846,197 shares in Virgin Wines. Based upon the Placing Price of £1.97 per share, the Company's equity investment in Virgin Wines is valued at £11.52 million. This represents an uplift in valuation of £5.86 million, compared to the value included in the Company's unaudited Net Asset Value ("NAV") per share at 31 December 2020 as above. This is an increase of 4.64 pence per share over the unaudited NAV per share at 31 December 2020 of 67.03 pence.

The MIX share price is currently up 2.0p (3.42%) today

From Mobeus 2 (MIG) RNS today:-

The Company holds 3,078,059 shares in Virgin Wines. Based upon the Placing Price of £1.97 per share, the Company's investment in Virgin Wines is valued at £6.06 million. This represents a significant uplift in valuation of £3.09 million, compared to that included in the Company's Net Asset Value ("NAV") per share at 31 December 2020. In isolation, the impact of this uplift in valuation upon the Company's NAV per share as at 31 December 2020 of 87.22p is an increase of 4.21 pence per share

The MIG share price is currently up 7.5p (9.87%) today

Posted: **March 2nd, 2021, 2:27 pm**

Celebratory tipple this evening?

I shall raise my glass to fellow Foolish VCT investors sharing this happy event.

Posted: **March 2nd, 2021, 4:29 pm**

All the loan stock Mobeus held has been redeemed today, but the newly issued shares to Mobeus are subject to a minimum six month lock-in. So, some further patience required. Still very good news.

The Lemon Fool

Virgin Wine - Mobeus

Virgin Wine - Mobeus

Re: Virgin Wine - Mobeus

Re: Virgin Wine - Mobeus

Re: Virgin Wine - Mobeus

Re: Virgin Wine - Mobeus

Re: Virgin Wine - Mobeus

Re: Virgin Wine - Mobeus