Offer Update

British Smaller Companies VCT PLC
06 October 2023
 

6 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 £20 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 £65 million, with an over-allotment facility of up to a further £25 million, in aggregate, by way of prospectus offers of new ordinary shares for subscription (the "Offers").

 

Applicants subscribing for the first £20 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 £10 million of Application Amounts under the Offers will receive additional New Shares equivalent to 0.125 per cent of the amount they subscribe, which in each case will be paid for by the Manager.

 

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

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