British Smaller Companies VCT2 Plc Issue of Equity (7446B)
April 08 2013 - 2:00AM
UK Regulatory
TIDMBSC
RNS Number : 7446B
British Smaller Companies VCT2 Plc
08 April 2013
British Smaller Companies VCT2 plc
Offers for Subscription: Allotment of Shares
British Smaller Companies VCT2 plc (the "Company") and British
Smaller Companies VCT plc initially sought to raise up to a maximum
of GBP15 million by way of joint offers for subscription of up to
7,374,101 ordinary shares of 10 pence each in the Company and
10,485,934 ordinary shares of 10 pence each in British Smaller
Companies VCT plc ("Offers for Subscription"). Full details of the
Offers for Subscription are contained in a prospectus issued by the
Company and British Smaller Companies VCT plc on 16 November 2012
(the "Prospectus"). On 4 April 2013 the Board exercised its
discretion under the terms of the Prospectus to increase the size
of the Offers for Subscription beyond its original GBP15m to GBP20
million, in aggregate.
The Company announces that on 5 April 2013 it allotted an
aggregate of 4,428,298 ordinary shares of 10 pence each, of which
2,236,692 were allotted at the offer price of 68.00 pence per
ordinary share (for applications received through intermediaries
offering financial advice and direct applications) and 2,191,606
were allotted at the offer price of 69.50 pence per ordinary share
(for applications received through intermediaries not offering
financial advice). These allotments were made in respect of valid
subscriptions received after 28 December 2012 and on or before
11.00am on 5 April 2013, for the tax year 2012/2013 pursuant to the
Offers for Subscription.
Richard Last, Chairman of the Company, and Peter Waller,
non-executive Director of the Company, have been allotted 4,940 and
2,450 ordinary shares of 10 pence each respectively in the Company
which takes their total respective shareholdings to 120,912 and
17,156 ordinary shares in the Company.
The Company and British Smaller Companies VCT plc in total has
raised gross proceeds GBP14.8 million under the Offers for
Subscription. The Company has raised GBP5.2 million and British
Smaller Companies VCT plc has raised GBP9.6 million.
Applications are now being made by the Company for the ordinary
shares which were allotted on 5 April 2013 to be admitted to the
premium segment of the Official List of the UK Listing Authority
and to trading on the London Stock Exchange's main market for
listed securities, and dealings are expected to commence on or
around 12 April 2013.
Following the allotment of 4,428,298 ordinary shares, the
Company's issued share capital consists of 45,886,142 ordinary
shares with voting rights ("Voting Capital") and 1,252,761 shares
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.
The 2012/2013 Offers for Subscription are now closed and the
2013/14 Offers for Subscription will remain open until 11:00 am on
30 April 2013, unless maximum subscription is reached before this
date or the directors exercise their discretion to extend the Offer
period.
A copy of the Prospectus has been submitted to the National
Storage Mechanism and is available to the public for viewing online
at the following web-site address: http://www.hemscott.com/nsm.do.
It can also be viewed on the Company's website
http://www.yfmep.com.
8 April 2013
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 294 5055
Matthew Thomas Nplus1 Singer Advisory LLP Tel: 0203 7496 3000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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