Mobeus Income & Growth VCT plc                   (LEI: 213800HKOSEVWS7YPH79)

Mobeus Income & Growth 2 VCT plc                (LEI: 213800LY62XLI1B4VX35)

Mobeus Income & Growth 4 VCT plc                (LEI: 213800IFNJ65R8AQW943)

The Income & Growth VCT plc                         (LEI: 213800FPC15FNM74YD92)

Offers for Subscription and Issue of Prospectus and Circular

This announcement is made jointly by Mobeus Income & Growth VCT plc (MIG), Mobeus Income & Growth 2 VCT plc (MIG 2), Mobeus Income & Growth 4 VCT plc (MIG 4) and The Income & Growth VCT plc (I&G) (together the Companies and each a Company), which are advised by Gresham House Asset Management Limited (Gresham House).

The boards of the Companies are pleased to announce the launch of offers for subscription to raise, in aggregate, up to £35 million (together the Offers and each an Offer). The amount each Company is seeking to raise is set out below:

The Offers open today and will close for Applications at 5.30 p.m. on 31 March 2022 (or, if earlier, as soon as an Offer is fully subscribed or otherwise at the relevant board's discretion). Full details of the Offers are contained in the prospectus issued by the Companies today (Prospectus).

Investors can select which of the Companies they wish to invest in. Investors can apply to invest equally in all of the Companies or different amounts in one or more of the Companies (subject to an Offer not having closed prior to the application form being processed). The amount subscribed under each Offer will be invested into new ordinary shares of 1p each in the relevant Company.

In addition, MIG, MIG 2 and MIG 4 have jointly issued a circular to shareholders (Circular) convening general meetings to be held on 23 February 2022 at:

·      MIG: 11.30 a.m.

·      MIG 2: noon; and

·      MIG 4: 12.30 p.m.,

each at the offices of Gresham House, 80 Cheapside, London EC2V 6EE (General Meetings).

MIG, MIG 2 and MIG 4 currently have limited authorities from their shareholders to allot shares and are therefore seeking additional share allotment authorities from their shareholders for the purposes of their relevant Offers. Such additional authorities will be sought through resolutions to be proposed at the General Meetings. For the avoidance of doubt, I&G does not require any additional shareholder authorities for the purposes of its Offer.

The Prospectus and the Circular will shortly be available for download from the Companies' websites at:

·      MIG: www.migvct.co.uk

·      MIG 2: www.mig2vct.co.uk

·      MIG 4: www.mig4vct.co.uk

·      I&G: www.incomeandgrowthvct.co.uk 

The Prospectus and the Circular have also been submitted to the Financial Conduct Authority and shall shortly be available for inspection at the National Storage Mechanism, which is located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Pursuant to an offers' agreement dated 20 January 2022 relating to the Offers between, among others, each Company and Gresham House, each Company will pay Gresham House a fee of an amount representing 3.0% of the Investment Amounts (as defined in the Prospectus) in respect of applications accepted under its Offer, less an amount equal to (i) 0.5% of the Investment Amounts in respect of investors who receive advice from a financial adviser other than in respect of a Professional Client (as defined in the Prospectus) investor (and the application forms are completed by the financial adviser on this basis), less (ii) 0.5% of the Investment Amounts where initial commission is waived by intermediaries in respect of applications from 'execution only' investors and Professional Client investors, less (iii) 0.5% of the Investment Amounts in respect of direct investors who are existing shareholders in one or more of the Companies and less (iv) any further amounts by which Gresham House agrees (at its discretion, but subject to not reducing Offer Costs (as defined in the Prospectus) to nil) to reduce its fees in respect of such applications, such amount being inclusive of VAT.

As Gresham House is a related party of each Company under the Listing Rules of the Financial Conduct Authority, the payment of such fee by each Company to Gresham House is a transaction to which Listing Rule 11.1.10 applies.

For further information, please contact:

Gresham House Asset Management Limited

Company Secretary

Telephone: +44 (0)20 7382 0999