British Smaller Companies VCT2 Plc Issue of Equity (6724D)
May 01 2013 - 2:00AM
UK Regulatory
TIDMBSC
RNS Number : 6724D
British Smaller Companies VCT2 Plc
01 May 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 (and the Board of
British Smaller Companies VCT plc) exercised their discretion under
the terms of the Prospectus to increase the size of the Offers for
Subscription beyond the original GBP15million to GBP20million, in
aggregate.
The Company announces that on 30 April 2013 it allotted an
aggregate of 610,380 ordinary shares of 10 pence each, of which
51,801 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 558,579 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 on or before 11.00am on 30 April 2013, for
the tax year 2013/2014 pursuant to the Offers for Subscription, and
are the final allotments to be made under the Offers for
Subscription which are now closed.
The Company and British Smaller Companies VCT plc have in total
raised gross proceeds of GBP16.0 million under the Offers for
Subscription and after taking into consideration the costs of the
Offers for Subscription this gives net total proceeds of
approximately GBP15.2 million. The Company has raised net proceeds
of GBP5.4 million and British Smaller Companies VCT plc has raised
net proceeds GBP9.8 million. The Offers for Subscription have now
closed.
Applications are now being made by the Company for the ordinary
shares which were allotted on 30 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 7 May 2013.
Following the allotment of 610,380 ordinary shares, the
Company's issued share capital consists of 46,216,561 ordinary
shares with voting rights ("Voting Capital") and 1,532,722 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.
While the Offers for Subscription have now closed, a copy of the
Prospectus has been submitted to the National Storage Mechanism and
is still available to the public for viewing online at the
following web-site address: http://www.hemscott.com/nsm.do. Also,
it can still be viewed on the Company's website
http://www.yfmep.com.
1 May 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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