British Smaller Companies VCT2 Plc Offers for Subscription: Allotment of Shares (1540E)
April 07 2014 - 2:00AM
UK Regulatory
TIDMBSC TIDMBSV
RNS Number : 1540E
British Smaller Companies VCT2 Plc
07 April 2014
British Smaller Companies VCT2 plc
Offers for Subscription: Allotment of Shares
British Smaller Companies VCT2 plc (the "Company") and British
Smaller Companies VCT plc are seeking to raise up to a maximum of
GBP30 million in aggregate by way of joint offers for subscription
("Offers"). Full details of the Offers are contained in a
prospectus issued by the Company and British Smaller Companies VCT
plc on 14 January 2014 (the "Prospectus").
The Company announces that on 4 April 2014 it made the second
issue of ordinary shares pursuant to these Offers by allotting an
aggregate of 1,267,464 ordinary shares of 10 pence each raising
gross proceeds of GBP0.9 million. These allotments were made in
respect of valid subscriptions received on or before 3 April 2014,
for the tax year 2013/2014 pursuant to the Offers. In accordance
with the pricing formula set out in the Prospectus the new ordinary
shares were allotted at offer prices of between 68.00 to 72.06
depending on the adviser charge (if applicable) and the number of
shares issued pertaining to each application
Together the Company and British Smaller Companies VCT plc have
in total to date raised gross proceeds of GBP22.1 million and,
after taking into consideration the costs of the Offers, this gives
net total proceeds of approximately GBP21.1 million. The Company
has raised net proceeds of approximately GBP8.4 million and British
Smaller Companies VCT plc has raised net proceeds of approximately
GBP12.7 million.
Employees of the fund manager, YFM Private Equity Limited, have
subscribed GBP0.21 million under the Offers for 234,196 ordinary
shares in both the Company and British Smaller Companies VCT plc.
Currently the employees of YFM Private Equity hold 359,656 shares
across both VCTs.
Applications are now being made by the Company for the ordinary
shares which were allotted on 4 April 2014 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 18 April 2014.
Following the allotment of 1,267,464 ordinary shares, the
Company's issued share capital consists of 59,191,425 ordinary
shares with voting rights ("Voting Capital") and 1,777,722 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.
The Offers remain open. A copy of the Prospectus was 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.
7 April 2014
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 294 5055
Matthew Thomas Nplus1 Singer Advisory LLP Tel: 020 7496 3000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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