Realisation of Investment

RNS Number : 4974A

British Smaller Companies VCT2 Plc

22 December 2014

 



 British Smaller Companies VCT2 plc ("the Company")

Realisation of Investment

The Company is pleased to announce the sale of its investment on 22 December 2014 in Waterfall Services Limited ("Waterfall Services"), a leading independent mid-sized contract caterer.

The Company will receive cash proceeds of £0.96 million compared to a cost of £0.03 million. The carrying value which was incorporated within the net asset value of the Company at 30 September 2014 was £0.95 million. Consequently the effect of this transaction had it been incorporated into the accounts at 30 September 2014 would have had no material impact on the net asset value per share.

The realisation will result in total cash proceeds (equity, preference shares, loans, interest & dividends) of £1.33 million which represents 5.3x the Company's original investment of £0.25 million.

Waterfall is one of the UK's leading independent contract catering companies, with particularly strong positions in the education and care and welfare markets. It has made a virtue of an individual and dedicated approach to clients, contributing to a fivefold increase in turnover since 2008.

For further information, please contact:

David Hall                                  YFM Equity Partners Limited                  Tel:  [phone]

Gillian Martin                            Nplus 1 Singer Advisory LLP                    Tel:  [phone]

 

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