British Smaller Companies VCT2 Plc Offer Update (1426R)
24 October 2023 - 11:20PM
UK Regulatory
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RNS Number : 1426R
British Smaller Companies VCT2 Plc
24 October 2023
24 October 2023
British Smaller Companies VCT plc and British Smaller Companies
VCT2 plc (together the "Companies")
Update on Offers
The Companies are pleased to announce that Applications
exceeding GBP30 million have been received in relation to the new
share offer in the 2023/24 tax year, launched on 20 September 2023,
to raise, in aggregate, up to GBP65 million, with an over-allotment
facility of up to a further GBP25 million, in aggregate, by way of
prospectus offers of new ordinary shares for subscription (the
"Offers").
Applicants subscribing for the first GBP20 million of
Application Amounts under the Offers will receive additional New
Shares equivalent to 0.25 per cent of the amount they subscribe and
Applicants subscribing for the next GBP10 million of Application
Amounts under the Offers will receive additional New Shares
equivalent to 0.125 per cent of the amount they subscribe.
It is intended that the first allotment for the 2023/24 tax
year, issuing new shares up to a maximum of GBP30 million of funds
received, will take place between 29 and 31 January 2024. The
second and final allotment will take place between 2 and 5 April
2024.
The Companies have issued a prospectus relating to the Offers
(the "Prospectus"). The proceeds will be allocated between the
Companies in accordance with the terms set out in the
Prospectus.
The deadline for the receipt of Applications and cleared funds
is 28 March 2024, or earlier if the Offers become fully
subscribed.
The Prospectus is available from the Company's website:
www.bscfunds.com
and is available for inspection at the National Storage
Mechanism, which is located at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 244 1000
Alex Collins Panmure Gordon (UK) Limited Tel: 0207 886 2767
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END
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