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Megamo were a Spanish brand big in the bike trials world in the mid 90s to early 2000s. There was a time where it seemed most of the UK trials competitors were riding them. I owned a couple and still have one in the garage. They were pretty sorted bikes for trials, despite being a bit 'agricultural', especially the later aluminium frames, but nothing special in the wider world of XC bikes.
This bike looks similar to the steel framed trials bikes I remember from the late 90s, especially the EU logo on the seat stays. I'm not sure the claimed £1800-£2000 would be right for a steel frame XT equipped bike - I don't remember them being that special.