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British Smaller Companies VCTAnnouncement

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RNS Number : 0258Z  British Smaller Companies VCT PLC  01 April 2026

British Smaller Companies VCT plc (the "Company")

Issue of Equity and Close of Offers

On 25 September 2025 British Smaller Companies VCT plc and British Smaller
Companies VCT2 plc (together the "Companies") launched offers for subscription
(the "Offers") seeking to initially raise £60 million in aggregate for the
2025/26 tax year, with an over-allotment facility of £25 million, which was
subsequently utilised in full.  The Offers were closed to new applications on
18 December 2025.

The first allotment by the Companies, allotting shares relating to gross
proceeds of £25.0 million under the Offers, took place on 7 January 2026.

The Company announces that today, 1 April 2026, it has made the second and
final issue of ordinary shares pursuant to the Offers by allotting 45,900,519
ordinary shares of 0.01 pence each, raising gross proceeds of £37.3 million.
This allotment was made in respect of the tax year 2025/26. In accordance with
the pricing formula set out in the Prospectus, the new ordinary shares were
allotted at offer prices of between 80.28 pence and 84.71 pence per ordinary
share depending on the adviser charge (if applicable) and the number of shares
issued pertaining to each application.  Applicants received additional New
Shares equivalent to receiving a 2.36 per cent per annum rate of return on
funds awaiting allotment (reduced to 2.06 per cent per annum from late January
by the Receiving Agent's banking provider), calculated by reference to the
number of days between the acceptance of an Application (including full
receipt of cleared funds) and the date of allotment.

The net asset value ("NAV") used for the calculation of the issue price on 1
April 2026 is the last reported NAV of 78.70 pence per ordinary share, being
the unaudited NAV as at 31 December 2025 of 78.70 pence per ordinary share.

Together, the Companies have in total allotted shares relating to gross
proceeds of £85 million under the Offers, of which £53 million has been
raised by the Company and £32 million has been raised by British Smaller
Companies VCT2 plc.

In this allotment the employees and members of the Manager, YFM Private Equity
Limited, have been allotted 103,208 ordinary shares of 0.01 pence each in the
Company, bringing their aggregate total holding to 1,459,635 ordinary shares.

Applications are now being made by the Company for the ordinary shares which
were allotted on 1 April 2026 to be admitted to the Official List of the
Financial Conduct Authority and to trading on the London Stock Exchange's main
market for listed securities.  Dealings are expected to commence on or around
17 April 2026.

Following the allotment of 45,900,519 ordinary shares, the Company's issued
share capital consists of 417,251,444 ordinary shares with voting rights
("Voting Capital") and 41,324,542 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.

1 April 2026

For further information, please contact:

Marcus Karia            YFM Equity
Partners
Tel:  0113 244 1000

Alex Collins              Panmure Liberum
 
Tel:  0207 886 2767

 

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