British Smaller Companies VCT2 Plc Dividend Declaration (4078M)

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 Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DIVEADFXESSNEFF

(END) Dow Jones Newswires

January 07, 2019 09:15 ET (14:15 GMT)

British Smaller Companie... (LSE:BSC)
Historical Stock Chart
From Jun 2024 to Jul 2024