TIDMBSC TIDMBSV

RNS Number : 1426R

British Smaller Companies VCT2 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 GBP30 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 GBP65 million, with an over-allotment facility of up to a further GBP25 million, in aggregate, by way of prospectus offers of new ordinary shares for subscription (the "Offers").

Applicants subscribing for the first GBP20 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 GBP10 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 GBP30 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

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

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

OUPUSAURONURUAA

(END) Dow Jones Newswires

October 24, 2023 08:20 ET (12:20 GMT)

British Smaller Companie... (LSE:BSV)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more British Smaller Companie... Charts.
British Smaller Companie... (LSE:BSV)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more British Smaller Companie... Charts.