(Alliance News) - British Smaller Companies VCT PLC and British Smaller Companies VCT2 PLC on Tuesday confirmed they will use the over-allotment facility following strong demand for a subscription offer launched in November.
Applications for the fundraising, which seeks to raise GBP50 million, have been received totalling GBP45 million. As a result, the GBP25 million over-allotment facility will be used.
This increases the maximum amount which can be raised under the subscription to GBP75 million.
The deadline for applications is March 31.
Shares in British Smaller Companies VCT closed up 2.0% at 76 pence and in British Smaller Companies VCT2 PLC up 1.9% at 55.00 pence in London on Tuesday.
By Jeremy Cutler, Alliance News reporter.
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Br.smaller Cos. (BSV)
Br.small Co.2 (BSC)