British Smaller Companies VCT2 Plc

2023/24 Fundraising – Offers now open

Fundraising Overview Fundraising progress How to apply Offer Documents Application Enquiries

Fundraising Overview

British Smaller Companies VCT plc and British Smaller Companies VCT2 plc (together the “Companies”) now open

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

Fundraising progress

Funds raised

£53.1m - amount raised

£11.9m - amount remaining

This information is correct at 4 December 2023

How to apply

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.

Offer Documents

Please click on the links below to access Fundraising and associated documents.

Application Form Notes to Application Form RNS - now processing applications Investor Guide Prospectus Shareholder covering letter BSC2 Kid BSC Kid RNS second early bird now closed RNS first early bird now closed RNS offer for subscription

Click here for the online Application Form

Application Enquiries

General Enquires

For general enquires about the BSC VCTs offer, please contact Tracey Nice via [email protected] or 07500 330 986.

Registered Office of British Smaller Companies VCT plc: 5th Floor Valiant Building, 14 South Parade, Leeds LS1 5QS. Registered No: 03134749. Corporate Governance: A full section on corporate governance is available in the latest BSC Annual Report which can be found in the Investor Information section of this website.

Terms and conditions of use

Before entering the website please read the important information below and confirm that you have read and understood to this by clicking on the “I agree” button at the bottom of the page.

The investments referred to on this website may not be suitable for all investors. YFM Private Equity Limited and its subsidiary companies (‘YFM’) are not able to provide advice on the suitability of any investment for an investor in any of the funds which we advise or manage. Nothing on this website should be construed as investment or tax advice. Potential investors are recommended to seek specialist independent tax and financial advice before investing in any fund advised or managed by YFM.

It is not intended that anything stated in this website should be construed as an invitation to treat or an offer for you to engage in any investment activity. An investment into any of the funds advised or managed by YFM may only be made on the basis of the information set out in the respective prospectus or investor guide.

Past performance of any fund advised or managed by YFM is no guide to future performance and may not be repeated. The value of investments and the income derived from them may go down as well as up and you may not get back the full amount invested. Tax rules and regulations can change over time and any benefit will also depend on individual circumstances, on Investors retaining their investments for the relevant period and on the companies invested in retaining their qualifying status.

The information on this website is directed at United Kingdom residents only and funds referred to on this website will not be offered to non-residents.

YFM has taken all reasonable care to ensure that all the facts stated in this website are true and accurate in all material respects, and that there are no other material facts or opinions of which we are aware that have been omitted where the omission of such would render this website misleading.

Venture Capital Trusts
Investors must retain their VCT shares for five years to retain the up-front income tax relief. Please remember that the tax rules and regulations governing VCTs are subject to change. The tax reliefs available to certain investors in VCTs are dependent on individual circumstances as well as the VCT maintaining HM Revenue & Customs approval. If this approval is withdrawn, a VCT will lose its status and all tax reliefs are likely to be cancelled.

The share price of a VCT may not reflect its net asset value. There is only a limited secondary market for shares in VCTs which may render such shares difficult to sell as they may not be readily marketable. VCTs invest in unquoted and AIM-quoted companies which are therefore smaller and carry a higher level of risk than shares which are listed on the main market of the London Stock Exchange. The shares of VCT investee companies may not be readily marketable. Before making an investment, ensure that you have read and understood the risk warnings set out in the VCT prospectus. An investment in a VCT should be regarded as a long-term investment. Please read our Risks section for more details on the risks involved in investing in our VCTs.

The contents of this website have been issued and approved for the purposes of section 21 of the Financial Services and Markets Act 2000 by YFM Private Equity Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) with Firm Reference Number 122120.

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