14 Feb 2023 16:35
14 February 2023
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British Smaller Companies VCT plc and British Smaller Companies VCT2 plc (together the "Companies")
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Utilisation of over-allotment facility
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On 30 November 2022 the Companies launched offers for subscription (the "Offers") seeking to initially raise £50 million in aggregate for the 2022/23 tax year.Â
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Following the successful launch, with applications received to date exceeding £45 million and considering the continuing level of demand, the Companies have today confirmed that the over-allotment facility of £25 million included in the Offers will be used in relation to the Offers. This increases the maximum amount which can be raised under the Offers to £75 million in aggregate.
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The Companies have issued a prospectus relating to the Offers (the "Prospectus"). The proceeds will be allocated between the Companies in accordance with the terms set out in the Prospectus.
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The Offers opened on 30 November 2022 and the deadline for receipt of Application Forms and cleared funds is 31 March 2023, or earlier if the Offers become fully subscribed.
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The Prospectus is available from the Company's website:
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www.bscfunds.com
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and is also available for inspection at the National Storage Mechanism, which is located at:
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https://data.fca.org.uk/#/nsm/nationalstoragemechanism
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For further information, please contact:
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David Hall YFM Private Equity Limited Tel: 0113 244 1000
Alex Collins Panmure Gordon (UK) Limited Tel: 0207 886 2767