British Smaller Companies VCT2 Plc Dividend Declaration (4078M)
January 07 2019 - 9:15AM
UK Regulatory
TIDMBSC
RNS Number : 4078M
British Smaller Companies VCT2 Plc
07 January 2019
British Smaller Companies VCT2 plc ("the Company")
Interim Dividend
As previously announced on 21 December 2018, the Company has
realised its investments in GTK (Holdco) Limited, Mangar Health
Limited and Gill Marine Holdings Limited generating total proceeds
of approximately GBP9.0m. This is an increase of GBP1.7m
(equivalent to 1.6 pence per Ordinary share) over the respective
valuations at 30 September 2018 and an increase of GBP5.3m (5.0
pence per Ordinary share) over the respective residual costs at 30
September 2018.
The realisation of GTK (Holdco) Limited delivered a total return
of GBP3.9m, achieving a multiple of 3.4x original cost.
The realisation of Mangar Health Limited delivered a total
return of GBP4.4m, achieving a multiple of 2.7x original cost.
The realisation of Gill Marine Holdings Limited delivered a
total return of GBP3.7m, achieving a multiple of 2.0x original
cost.
Following the above realisations, investments made prior to the
November 2015 Budget now represent 67 per cent of the value of the
remaining unquoted portfolio as at 30 September 2018.
The directors are pleased to announce the payment of an interim
dividend for the year ending 31 December 2019 of 5.0 pence per
ordinary share ("Interim Dividend").
The Interim Dividend will be paid on 15 February 2019 to those
shareholders on the Company's register at the close of business on
18 January 2019. At the date of this announcement the Company has
107,018,820 shares in issue. The ex-dividend date will be 17
January 2019. The Interim Dividend will reduce the net asset value
per Ordinary Share by 5.0 pence.
The Company operates a dividend re-investment scheme ("DRIS").
The latest date for receipt of DRIS elections so as to participate
in the DRIS in respect of the Interim Dividend is the close of
business on 1 February 2019.
7 January 2019
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 244 1000
Jonathan Becher Panmure Gordon Tel: 0207 886 2715
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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