British Smaller Companies VCT2 Plc Dividend Declaration

RNS Number : 2989Q

British Smaller Companies VCT2 Plc

17 December 2024

 

British Smaller Companies VCT2 plc ("the Company")

 

Special Interim Dividend

 

Following the successful realisation of the Company's investment in Traveltek in October 2024, the Directors are pleased to announce the payment of a special interim dividend for the year ending 31 December 2025 of 1.0 pence per ordinary share ("Special Interim Dividend").

 

The Special Interim Dividend will be paid on 27 January 2025 to those shareholders on the Company's register at the close of business on 27 December 2024. The ex-dividend date will be 24 December 2024. The 1.0 pence Special Interim Dividend will result in a corresponding reduction in the last reported net asset value to 54.85 pence per ordinary share.

 

The Company operates a dividend re-investment scheme ("DRIS").  The latest date for receipt of new or updated DRIS elections in respect of the Special Interim Dividend is the close of business on 13 January 2025.

 

Fundraising Update

In connection with the Company's 2024/25 joint £75 million new share offer with British Smaller Companies VCT plc, applications exceeding £63 million have been received to date, of which c. £25 million relate to the Company. The allotment of the first £25 million of gross proceeds will take place between 28 and 31 January 2025. The second and final allotment will take place between 1 and 4 April 2025.  Funds awaiting allotment will receive additional shares equivalent to a 3.35 per cent per annum return (rate subject to change by the receiving agent's banking provider).

 

For further information, please contact:

 

Marcus Karia            YFM Equity Partners                                                Tel:  [phone]

Alex Collins              Panmure Liberum                                                      Tel:  [phone]

 

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