Mobeus Income & Growth VCT (GB:MIX) has released an update.
Mobeus Income & Growth VCT PLC has reached an agreement in principle for a merger intended to consolidate four companies into two, aiming for cost savings, administrative efficiency, and simplified operations. The merger will result in annual cost savings of about £798,387 and a payback period of less than 18 months, creating two larger, more manageable entities with a focus on investment performance and shareholder returns. Additionally, the company has proposed an offer for subscription post-merger to raise further funds, enhancing the benefits of the merger for shareholders.
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