British Smaller Companies VCT2 Plc Interim Dividend (4005O)
October 07 2021 - 9:30AM
UK Regulatory
TIDMBSC
RNS Number : 4005O
British Smaller Companies VCT2 Plc
07 October 2021
British Smaller Companies VCT2 plc ("the Company")
Interim Dividend
Following the previous announcement on 10 September 2021, the
Company has now completed the partial sale of its holding in
Matillion. The impact following this partial realisation is an
increase on the 30 June 2021 Net Asset Value of 1.4 pence per
ordinary share (equivalent to 2.2 per cent).
As also previously announced, the Company completed the sale of
its shareholding in Deep Secure in July. The exit (which was
realised at the value held at 30 June 2021) generated capital
proceeds of GBP3.3 million delivering a profit of GBP2.8 million
above cost, and an uplift of GBP1.3 million on the carrying value
at the beginning of the financial year. Including income, the total
return from this investment was GBP3.8 million over an 11.6 year
holding period, producing an internal rate of return of 23 per cent
and a multiple of 7.7x cost.
As a consequence of the above, the directors are pleased to
announce the payment of a third interim dividend for the year
ending 31 December 2021 of 5.0 pence per ordinary share ("Third
Interim Dividend"). The Company paid a first interim dividend of
1.5 pence per ordinary share on 5 March 2021 and as previously
announced will pay a second interim dividend of 1.5 pence per
ordinary share on 25 October 2021.
The Third Interim Dividend will be paid on 16 November 2021 to
those shareholders on the Company's register at the close of
business on 15 October 2021. The ex-dividend date will be 14
October 2021. The Third Interim Dividend will reduce the net asset
value per Ordinary Share by 5.0 pence per ordinary share.
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 Third Interim Dividend is the close
of business on 29 October 2021.
7 October 2021
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 244 1000
Alex Collins Panmure Gordon (UK) Limited Tel: 0207 886 2767
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END
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