British Smaller Companies VCT2 Plc Issue of Equity (1270F)
February 16 2018 - 4:50AM
UK Regulatory
TIDMBSC
RNS Number : 1270F
British Smaller Companies VCT2 Plc
16 February 2018
British Smaller Companies VCT2 plc
Issue of Equity and Close of Offer
British Smaller Companies VCT2 plc (the "Company") launched an
Offer for Subscription (the "Offer") on 11 January 2018 to raise up
to GBP4.4 million which was closed to new applications on 26
January 2018.
The Company announces that on 16 February 2018 it made the first
and final issue of ordinary shares pursuant to the Offer by
allotting 7,366,700 ordinary shares of 10 pence each raising gross
proceeds of GBP4.4 million. In accordance with the pricing formula
set out in the Offer document the new ordinary shares were allotted
at offer prices of 59.385 pence and 60.571 pence per share
depending on whether applications were received direct, through an
adviser or through an execution only broker or platform. After
taking into consideration the costs of the Offer, net proceeds were
approximately GBP4.3 million.
The net asset value ("NAV") used for the calculation of the
issue price on 16 February 2018 is 57.9 pence per ordinary share,
being the last reported NAV as at 30 September 2017.
Applications are now being made by the Company for the ordinary
shares which were allotted on 16 February 2018 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 2 March 2018.
Following the allotment of 7,366,700 ordinary shares, the
Company's issued share capital consists of 107,857,275 ordinary
shares with voting rights ("Voting Capital") and 4,006,351 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.
16 February 2018
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 244 1000
Jonathan Becher Panmure Gordon (UK) Limited Tel: 0207 866 2715
This information is provided by RNS
The company news service from the London Stock Exchange
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