British Smaller Companies VCT2 Plc Issue of Equity and Close of Offer (6114W)
February 10 2017 - 4:47AM
UK Regulatory
TIDMBSC
RNS Number : 6114W
British Smaller Companies VCT2 Plc
10 February 2017
British Smaller Companies VCT2 plc
Issue of Equity and Close of Offer
British Smaller Companies VCT2 plc (the "Company") launched an
Offer for Subscription (the "Offer") on 3 January 2017 to raise up
to GBP4.25 million which was closed to new applications on 10
January 2017.
The Company announces that on 10 February 2017 it made the first
and final issue of ordinary shares pursuant to the Offer by
allotting 6,787,231 ordinary shares of 10 pence each raising gross
proceeds of GBP4.25 million. In accordance with the pricing formula
set out in the Offer Document the new ordinary shares were allotted
at offer prices of 62.165 pence and 63.407 pence per share
depending on whether applications were received direct, through an
adviser or through an execution only broker or platform. After
taking into consideration the costs of the Offer, net proceeds were
approximately GBP4.1 million.
The net asset value ("NAV") used for the calculation of the
issue price on 10 February 2017 is 60.3 pence per share, being the
last reported NAV as at 30 September 2016.
Applications are now being made by the Company for the ordinary
shares which were allotted on 10 February 2017 to be admitted to
the premium segment of the Official List of the UK Listing
Authority and to trading on the London Stock Exchange's main market
for listed securities, and dealings are expected to commence on or
around 17 February 2017.
Following the allotment of 6,787,231 ordinary shares, the
Company's issued share capital consists of 100,761,545 ordinary
shares with voting rights ("Voting Capital") and 2,545,746 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.
10 February 2017
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 244 1000
Jonathan Becher Panmure Gordon (UK) Limited Tel: 0207 866 2715
This information is provided by RNS
The company news service from the London Stock Exchange
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