British Smaller Cos VCT And VCT2 Raise Combined GBP35 Million (ALLISS)

LONDON (Alliance News) - British Smaller Cos VCT PLC and British Smaller Cos VCT 2 PLC said Monday they have both made a subscription offer, raising a combined GBP35.0 million.

British Smaller Cos made the first and final issue of 28.4 million shares, raising about GBP21.9 million. The subscription price was between 76.0 pence and 77.5p, depending on adviser charges.

British Smaller Cos VCT 2 allotted 22.8 million raising GBP13.1 million. VCT 2's shares were priced between 56.3p and 57.4p.

British Smaller Cos now has 138.8 million shares in issue and VCT 2 now has 131.3 million issued shares.

Shares in British Smaller Cos were untraded Friday but last closed at 70.00p each. British Smaller Cos VCT 2 closed down 1.9% at 51.50p.