The £40 million joint offers by British Smaller Companies VCT plc and British Smaller Companies VCT2 plc (BSC VCTs) opened on 22 September 2021 and utilisation of the £20 million over-allotment facility was announced on 11 October 2021, increasing the maximum amount which can be raised under the Offers to £60 million in aggregate. The Early Bird discounts have now ended as the first £15 million raised which was eligible for the discounts, has now been exceeded.
These two established VCTs are initially raising up to £40 million in aggregate with an over-allotment facility of £20 million in aggregate. The Offers are open to both existing shareholders and new investors for the current 2021/22 tax year. See below for details of how to apply and links to the Investor Guide and Offer documents.
Offer Size: £40 million plus £20 million over-allotment facility – over-allotment facility is now being utilised
Amount Raised: £44 million as at 9.30 a.m. on 18 October 2021
Minimum Subscription: £6,000 (across both VCTs)
Closing Date: 01 April 2022 (or earlier if fully subscribed)
Final Allotment Date: 04 April 2022 (or earlier if fully subscribed)
Early Bird Offers: now closed.
For full details of the Offer terms, please refer to the Prospectus. Please note that new VCT shares should be held for a minimum of five years in order to retain the upfront income tax relief.
You (or your financial intermediary if applicable) can submit an Application (to the Receiving Agent, City Partnership) as shown below. Before investing you should read the Prospectus available on this page, which provides details of the VCTs, initial Offer costs and ongoing charges, as well as relevant risk factors.
Online: Apply via the link here and follow the instructions on screen. You will be asked to provide your email address and then a unique link will be generated and emailed back to you, which can be accessed by both Investor and Financial Intermediary (where appropriate). No signature is required on the application form.
By post (including any cheque) to: BSC & BSC2 Offers, The City Partnership (UK) Ltd, The Mending Rooms, Park Valley Mills, Meltham Road, Huddersfield HD4 7BH.
By email to: [email protected]
Please click on the links below to download all the relevant documents for the 2021-22 BSC VCTs fundraising.
For general enquires about the BSC VCTs offer, please contact Tracey Nice via [email protected] or 07500 330 986.
For an enquiry about an application already submitted, you should contact the Receiving Agent, City Partnership, at [email protected] or call 01484 240 910 (lines are open from 09.00 to 17.30, Monday to Friday, excluding public holidays).
Income tax relief certificates will be issued by email to each Shareholder by the Receiving Agent, City Partnership, within two Business Days of the allotment (or a hard copy certificate will be posted within ten Business Days if an Applicant has not provided an email address).
Share certificates will be issued by post by the Registrar within ten Business Days of each allotment (or CREST accounts credited within ten Business Days for a Shareholder who has their New Shares credited to CREST). Therefore, Shareholders should expect to receive share certificates for their New Shares within 14 Business Days following an allotment.