Payment of dividend and allotment of shares

RNS Number : 8387R

British Smaller Companies VCT PLC

11 March 2016

 

British Smaller Companies VCT plc (the "Company")

Payment of Second Special Dividend and Allotment of Shares

The Company announces that on 11 March 2016 it paid a second special dividend ("Second Special Dividend") of 1.0 pence per ordinary share to shareholders on the register of members of the Company as at the record date of 12 February 2016.

The Company further announces that on 11 March 2016 it issued and allotted 227,424 ordinary shares of 10 pence each ("Ordinary Shares") pursuant to its dividend re-investment scheme ("DRIS") at a price of 94.15 pence per share to shareholders of the Company who elected to receive shares instead of the Second Special Dividend.  The subscription price of 94.15 pence per share was determined in accordance with the terms and conditions of the DRIS on the basis of the last reported Net Asset Value of 102.10 pence per ordinary share as at 31 December 2015 (adjusted for the Interim Dividend of 2.0 pence per share paid on 15 January 2016 and the Second Special Dividend of 1.0 pence per share paid today) less 5%.  Of the Second Special Dividend paid by the Company 23% was re-invested in shares in the Company via the DRIS.

As part of this allotment, Edward Buchan, a non-executive director of the Company, was allotted 221 Ordinary Shares in the Company.  This takes his total shareholding to 21,028 Ordinary Shares representing 0.02% of the current issued Ordinary Shares.

As part of this allotment the staff and members of the investment adviser, YFM Private Equity Limited and its ultimate holding company have been allotted 1,613 Ordinary Shares bringing their aggregate total shareholding to 337,112 Ordinary Shares representing 0.35% of the current issued Ordinary Shares.

Application is now being made for the Ordinary Shares which were issued and allotted on 11 March 2016 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 24 March 2016.

Following such issue and allotment the Company's issued share capital consists of 95,755,670 Ordinary Shares with voting rights ("Voting Capital") and 3,589,665 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 FCA's Disclosure and Transparency Rules.

For further information please contact:

David Hall                    YFM Private Equity Limited                 Tel:  [phone]

Gillian Martin                Nplus1 Singer Advisory LLP               Tel:  [phone]

 

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