Allotment of Shares

RNS Number : 5640U

British Smaller Companies VCT PLC

31 December 2012

 



British Smaller Companies VCT plc

Offers for Subscription: Allotment of Shares

British Smaller Companies VCT plc (the "Company") and British Smaller Companies VCT2 plc are seeking to raise up to a maximum of £15 million by way of joint offers for subscription of up to 10,485,934 ordinary shares of 10 pence each in the Company and 7,374,101 ordinary shares of 10 pence each in British Smaller Companies VCT2 plc ("Offers for Subscription").  Full details of the Offers for Subscription are contained in a prospectus issued by the Company and British Smaller Companies VCT2 plc on 16 November 2012 (the "Prospectus").

The Company announces that on 31 December 2012 it allotted 4,235,020 ordinary shares of 10 pence each at the offer price of 97.75 pence per ordinary share in respect of valid subscriptions received on or before 28 December 2012 for the tax year 2012/2013 pursuant to the Offers for Subscription.

Helen Sinclair, Chairman of the Company, and Philip Cammerman, non-executive Director of the Company, have each been allotted 3,597 ordinary shares of 10 pence each in the Company which takes their total respective shareholdings to 17,004 and 44,614 ordinary shares in the Company. 

Application is now being made by the Company for the ordinary shares which were allotted on 31 December 2012 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 8 January 2013.

Following the allotment the Company's issued share capital consists of 43,374,568 ordinary shares with voting rights ("Voting Capital") and 3,048,195 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 FSA's Disclosure and Transparency Rules.

The 2012/2013 Offers for Subscription will remain open until 11:00 am on 5 April 2013 and the 2013/14 Offers for Subscription will remain open until 11:00 am on 30 April 2013, unless maximum subscription is reached before either of the closing dates.

A copy of the Prospectus has been submitted to the National Storage Mechanism and is available to the public for viewing online at the following web-site address: http://www.hemscott.com/nsm.do. It can also be viewed on the Company's website http://www.yfmep.com.

31 December 2012

For further information, please contact:

David Hall                        YFM Private Equity Limited                      Tel: [phone]

Matthew Thomas             Nplus1 Singer Advisory LLP                     Tel: [phone]

 

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