The Companies are pleased to announce the Offer for subscription for the 2023-24 tax year is now open.
These two established VCTs are initially raising up to £65 million, in aggregate with an over-allotment facility of £25 million, in aggregate. The Offers are open to both existing shareholders and new investors for the current 2023/24 tax year, with an early bird offer of 0.25% on the first £20 million raised – now closed as at 6 October 2023, and 0.125% on the next £10 million raised. In addition, funds awaiting allotment will receive additional shares equivalent to a 3.7% per annum return*. See below for details of how to apply and links to the Investor Guide and Offer documents.
Offer Size: £65 million plus £25 million over-allotment facility
Amount Raised: £53.1 million
Minimum Subscription: £6,000 (across both VCTs)
Closing Date to New Applications: 28 March 2024, including cleared funds (or earlier if fully subscribed)
Allotment Dates: First allotment of up to £30 million in January 2024, with second and final allotment between 2-5 April 2024
Early Bird Offers: 0.25% for the first £20 million raised – now closed as at 6 October 2023 and 0.125% on the next £10 million raised – now closed as at 24 October 2023
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.
*subject to change
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 the 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.
Please click on the links below to access Fundraising and associated documents.
For general enquires about the BSC VCTs offer, please contact Tracey Nice via [email protected] or 07500 330 986.