Last checked at 
7 Apr 2014 07:00
British Smaller Companies VCT2 plc
Offers for Subscription: Allotment of Shares
British Smaller Companies VCT2 plc (the "Company") and British Smaller Companies VCT plc are seeking to raise up to a maximum of £30 million in aggregate by way of joint offers for subscription ("Offers"). Full details of the Offers are contained in a prospectus issued by the Company and British Smaller Companies VCT plc on 14 January 2014 (the "Prospectus").
The Company announces that on 4 April 2014 it made the second issue of ordinary shares pursuant to these Offers by allotting an aggregate of 1,267,464 ordinary shares of 10 pence each raising gross proceeds of £0.9 million. These allotments were made in respect of valid subscriptions received on or before 3 April 2014, for the tax year 2013/2014 pursuant to the Offers. In accordance with the pricing formula set out in the Prospectus the new ordinary shares were allotted at offer prices of between 68.00 to 72.06 depending on the adviser charge (if applicable) and the number of shares issued pertaining to each application
Together the Company and British Smaller Companies VCT plc have in total to date raised gross proceeds of £22.1 million and, after taking into consideration the costs of the Offers, this gives net total proceeds of approximately £21.1 million. The Company has raised net proceeds of approximately £8.4 million and British Smaller Companies VCT plc has raised net proceeds of approximately £12.7 million.
Employees of the fund manager, YFM Private Equity Limited, have subscribed £0.21 million under the Offers for 234,196 ordinary shares in both the Company and British Smaller Companies VCT plc. Currently the employees of YFM Private Equity hold 359,656 shares across both VCTs.
Applications are now being made by the Company for the ordinary shares which were allotted on 4 April 2014 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 18 April 2014.
Following the allotment of 1,267,464 ordinary shares, the Company's issued share capital consists of 59,191,425 ordinary shares with voting rights ("Voting Capital") and 1,777,722 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.
The Offers remain open. A copy of the Prospectus was submitted to the National Storage Mechanism and is available to the public for viewing online at the following web-site address: http://www.hemscott.com/nsm.do. It can also be viewed on the Company's website http://www.yfmep.com.
7 April 2014
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 294 5055
Matthew Thomas Nplus1 Singer Advisory LLP Tel: 020 7496 3000