British Smaller Companies VCT2 Plc Issue of Equity and Close of Offer (9992R)
March 11 2021 - 8:51AM
UK Regulatory
TIDMBSC
RNS Number : 9992R
British Smaller Companies VCT2 Plc
11 March 2021
British Smaller Companies VCT2 plc
Issue of Equity and Close of Offer
British Smaller Companies VCT2 plc (the "Company") launched a
top up offer for subscription ("Offer") on 2 February 2021. Full
details of the Offer are contained in an offer document issued by
the Company and British Smaller Companies VCT plc on 2 February
2021 (the "Offer Document").
The Company announces that on 11 March 2021 it made the first
and final issue of ordinary shares pursuant to the Offer by
allotting 12,756,951 ordinary shares of 10 pence each (the
"Shares"), giving gross total proceeds of GBP7.05 million, and
after taking into consideration the costs of the Offer net total
proceeds of GBP6.83 million. This allotment was made in respect of
the tax year 2020/2021 and is the final allotment to be made
pursuant to the Offer, which is now closed. In accordance with the
pricing formula set out in the Offer Document, the Shares were
allotted at offer prices of between 54.872 pence and 54.943 pence
per Share, depending on any applicable adviser charge.
The net asset value ("NAV") used for the calculation of the
issue price on 11 March 2021 is 53.5 pence per ordinary share,
calculated as the last reported unaudited NAV of 55.0 pence per
ordinary share as at 31 December 2020, adjusted for the dividend of
1.5 pence per ordinary share paid on 5 March 2021.
In this allotment Barbara Anderson, non-executive Director of
the Company, has been allotted 9,112 ordinary shares, which
represents her total shareholding in the Company.
Applications are now being made by the Company for the Shares to
be admitted to the premium segment of the Official List of the
Financial Conduct Authority and to trading on the London Stock
Exchange's main market for listed securities, and dealings are
expected to commence on or around 25 March 2021.
Following the allotment of the Shares, the Company's issued
share capital consists of 142,455,847 ordinary shares with voting
rights ("Voting Capital") and 12,376,437 ordinary 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 Guidance and Transparency Rules.
11 March 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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