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RNS Number : 0158L

British Smaller Companies VCT2 Plc

22 April 2015

British Smaller Companies VCT2 plc

Issue of Equity and Close of Offers

British Smaller Companies VCT2 plc (the "Company") and British Smaller Companies VCT plc launched offers for subscription ("Offers"). Full details of the Offers are contained in a prospectus issued by the Company and British Smaller Companies VCT2 plc on 20 October 2014 (the "Prospectus").

The Company announces that on 22 April 2015 it made the fifth issue of ordinary shares pursuant to the Offers by allotting 1,141,754 ordinary shares of 10 pence each raising gross proceeds of GBP0.75 million. This allotment was made in respect of the tax year 2015/2016 and is the final allotment to be made pursuant to the Offers, which are now closed. In accordance with the pricing formula set out in the Prospectus the new ordinary shares were allotted at offer prices of between 64.84 pence and 66.29 pence per share depending on the adviser charge (if applicable) and the number of shares issued pertaining to each application.

The net asset value ("NAV") used for the calculation of the issue price on 22 April 2015 is 62.9 pence per share, being the last reported NAV as at 31 December 2014.

Together the Company and British Smaller Companies VCT plc have in total allotted shares giving gross proceeds of GBP40.0 million under the Offers and, after taking into consideration the costs of the Offers, this gives net total proceeds of GBP38.1 million, of which GBP14.7 million has been raised by the Company and GBP23.4 million has been raised by British Smaller Companies VCT plc.

Applications are now being made by the Company for the ordinary shares which were allotted on 22 April 2015 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 6 May 2015.

Following the allotment of 1,141,754 ordinary shares, the Company's issued share capital consists of 86,222,025 ordinary shares with voting rights ("Voting Capital") and 1,910,022 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.

22 April 2015

For further information, please contact:

David Hall YFM Private Equity Limited Tel: 0113 244 1000

   Emily Watts                    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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