Statement re Offer for Subscription

RNS Number : 0577Y

British Smaller Companies VCT PLC

28 February 2017

 

British Smaller Companies VCT plc

Statement re Offer for Subscription

British Smaller Companies VCT plc (the "Company") launched an Offer for Subscription (the "Offer") to raise up to £4.25 million. Full details of the Offer are contained in an offer document (the "Offer Document") issued by the Company, dated 10 February 2017.

The Board is pleased to announce that valid Subscriptions have now been received from existing shareholders exceeding the full amount available under the Offer, and consequently the Offer will not be opened to other investors from 7 March 2017.

The Offer remains open to existing shareholders until 6 March 2017, after which shares will be allotted by way of a ballot and the Offer will be closed.

Only postal or hand-delivered subscriptions will be accepted by the receiving agent and in order to be as fair as possible to all investors the minimum individual subscription has been set at £3,000 and only one subscription will be accepted per investor.

The Company will only accept payment by cheque and will only present cheques for successful subscriptions once the ballot has concluded.  Banker's drafts and electronic payments will not be accepted.

The Offer Document was posted to existing shareholders on 16 February 2017 and is also available from the Company's website, www.bscfunds.com.

A copy of the Offer Document was submitted to the National Storage Mechanism and is available to the public for viewing online at the following web-site address: http://www.morningstar.co.uk/uk/NSM.

28 February 2017

For further information, please contact:

David Hall                        YFM Private Equity Limited                      Tel: [phone]

Jonathan Becher              Panmure Gordon (UK) Limited                  Tel: [phone]

 

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