17 October 2024
British Smaller Companies VCT
plc and British Smaller Companies VCT2 plc (together the
"Companies")
Publication of a
Prospectus
The Companies are pleased to announce
that they have today launched a new share offer in the 2024/25 tax
year to raise, in aggregate, up to £50 million, with an
over-allotment facility of up to a further £25 million, in
aggregate, by way of prospectus offers of new ordinary shares for
subscription (the "Offers").
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.
The Offers open on 17 October 2024.
Applications will be processed from 24 October 2024 and the
deadline for the receipt of applications and cleared funds is 28
March 2025, or earlier if the Offers become fully
subscribed.
Pursuant to the Offers, YFM Private
Equity Limited, the Companies' Manager, will receive a fee
of 3.0 per cent of the total amount remitted to
the Companies under the Offers, including any adviser charges to be
facilitated by the Companies ("Application Amounts") or 3.5 per
cent of the Application Amounts for applications received from
applicants who have not invested their money through a financial
intermediary/adviser and have invested directly into the
Companies. These
arrangements constitute related party transactions
falling within UK Listing Rule
8.2.1R. The board of each Company believes
that these arrangements are fair and reasonable as far as
the shareholders of their respective Company are concerned and
have been so advised by Howard Kennedy Corporate Services LLP, as
sponsor to each Company.
The Prospectus is available from the
Companies' website:
www.bscfunds.com
and will shortly be available for
inspection at the National Storage Mechanism, which is located
at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
A hard copy of the application form
and related notes will be posted to shareholders of the Companies.
Applicants will be able to apply online at
www.bscfunds.com.
For further information, please
contact:
Marcus
Karia
YFM Equity Partners
Tel: 0113 244 1000
Alex
Collins
Panmure Liberum
Tel: 0207 886 2767
