Offer Update
British Smaller Companies VCT plc and British Smaller Companies VCT2 plc (together "the Companies")
Offers for Subscription
Additional Allotment in respect of the Offers for Subscription for the 2010/2011 Tax Year and Change of Closing Date in respect of the Offers for Subscription for the 2011/2012 Tax Year
The Companies are seeking to raise up to £15 million, in aggregate, by way of offers for subscription of up to 8,780,488 Ordinary Shares in British Smaller Companies VCT plc and of up to 12,811,388 Ordinary Shares in British Smaller Companies VCT2 plc ("Offers for Subscription"). Full details of the Offers for Subscription are contained in a prospectus issued by the Companies on 9 December 2010 ("Prospectus").
In respect of the Offers for Subscription for the 2010/2011 tax year, in addition to the allotment of Ordinary Shares on 5 April 2011 as set out in the timetable in the Prospectus, the Directors of the Companies have, in accordance with the terms and conditions of the Offers for Subscription, agreed to an additional allotment of Ordinary Shares on 22 March 2011. Accordingly, Ordinary Shares will also be allotted on 22 March 2011 to investors whose application forms in respect of the Offers for Subscription for the 2010/2011 tax year are received (and accepted) by the Companies by 11.00 am on that day.
In respect of the Offers for Subscription for the 2011/2012 tax year, in accordance with the terms and conditions of the Offers for Subscription, the Directors of the Companies have agreed to extend the closing date from 29 April 2011 to 4 May 2011 as a result of the bank holiday which has been announced for 29 April 2011.
Copies of the Prospectus have been submitted to the National Storage Mechanism and are available to the public for viewing online at the following web-site address: http://www.hemscott.com/nsm.do. They can also be viewed on the Fund Manager's website http://www.yfmep.co.uk.
For further information please contact:
David Hall YFM Private Equity Limited Tel: 0161 832 7603
Jeff Keating Singer Capital Markets Limited Tel: 0203 205 7500
This information is provided by RNS