REG - British Smaller Co's British Smlr Comp 2 - Offer Update

British Smaller Companies VCTAnnouncement

24/10/2023 13:30

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RNS Number : 1425R  British Smaller Companies VCT PLC  24 October 2023

24 October 2023

 

British Smaller Companies VCT plc and British Smaller Companies VCT2 plc
(together the "Companies")

 

Update on Offers

 

 

The Companies are pleased to announce that Applications exceeding £30 million
have been received in relation to the new share offer in the 2023/24 tax year,
launched on 20 September 2023, to raise, in aggregate, up to £65 million,
with an over-allotment facility of up to a further £25 million, in aggregate,
by way of prospectus offers of new ordinary shares for subscription (the
"Offers").

 

Applicants subscribing for the first £20 million of Application Amounts under
the Offers will receive additional New Shares equivalent to 0.25 per cent of
the amount they subscribe and Applicants subscribing for the next £10 million
of Application Amounts under the Offers will receive additional New Shares
equivalent to 0.125 per cent of the amount they subscribe.

 

It is intended that the first allotment for the 2023/24 tax year, issuing new
shares up to a maximum of £30 million of funds received, will take place
between 29 and 31 January 2024. The second and final allotment will take place
between 2 and 5 April 2024.

 

The Companies have issued a prospectus relating to the Offers (the
"Prospectus"). The proceeds will be allocated between the Companies in
accordance with the terms set out in the Prospectus.

 

The deadline for the receipt of Applications and cleared funds is 28 March
2024, or earlier if the Offers become fully subscribed.

 

The Prospectus is available from the Company's website:

www.bscfunds.com (http://www.bscfunds.com)

 

and is available for inspection at the National Storage Mechanism, which is
located at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)

 

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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