British Smaller Companies VCT PLC Payment of dividend and issue of equity (7610U)
31 July 2020 - 6:36PM
UK Regulatory
TIDMBSV
RNS Number : 7610U
British Smaller Companies VCT PLC
31 July 2020
British Smaller Companies VCT plc (the "Company")
Payment of Interim Dividend and Allotment of Shares
The Company announces that on 31 July 2020 it paid an interim
dividend for the year ending 31 March 2021 of 2.0 pence per
ordinary share to shareholders on the register of members of the
Company as at the record date of 3 July 2020 ("Interim
Dividend").
The Company further announces that on 31 July 2020 it issued and
allotted 1,254,024 ordinary shares of 10 pence each pursuant to its
dividend re-investment scheme ("DRIS") at a price of 59.38 pence
per ordinary share to shareholders of the Company who elected to
receive ordinary shares instead of the Interim Dividend. The
subscription price of 59.38 pence per ordinary share was determined
in accordance with the terms and conditions of the DRIS on the
basis of the last reported net asset value of 64.5 pence per
ordinary share as at 31 March 2020 (adjusted for the Interim
Dividend of 2.0 pence per ordinary share paid today) less 5 per
cent. As a result, 27 per cent o f the Interim Dividend paid by the
Company, was re-invested in ordinary shares in the Company via the
DRIS.
Under this allotment the employees and members of the Investment
Adviser, YFM Private Equity Limited, have been allotted 120
ordinary shares of 10 pence each in the Company bringing their
aggregate total holding to 215,843 ordinary shares.
Application is now being made for the ordinary shares which were
issued and allotted as set out above to be admitted to the premium
segment of the Official List of the Financial Conduct Authority and
to trading on the London Stock Exchange's Main Market for listed
securities, and dealings are expected to commence on or around 14
August 2020 .
Following such issue and allotment the Company's issued share
capital consists of 138,408,856 ordinary shares of 10 pence each
with voting rights ("Voting Capital") and 12,345,205 ordinary
shares of 10 pence each held in treasury.
The above statement of Voting Capital may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in the Company under the FCA's
Disclosure and Transparency Rules.
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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