LONDON - British Smaller Companies VCT plc (the "Company") has announced the payment of an interim dividend and the allotment of new shares as part of its dividend re-investment scheme (DRIS). On December 20, 2024, the venture capital trust paid a dividend of 2.0 pence per ordinary share to its shareholders who were on the register as of November 22, 2024.
Concurrently, the Company issued 1,364,849 new ordinary shares at a price of 79.8 pence each to shareholders opting to reinvest their dividends into additional shares. This price was set based on the Company's net asset value of 81.8 pence per share as of September 30, 2024, after adjusting for the dividend payment. Notably, 18.0 percent of the dividend distributed was reinvested through the DRIS.
The employees and members of YFM Private Equity Limited, the Manager of the Company, were allocated 4,413 shares, increasing their total holding to 1,039,635 ordinary shares.
The newly issued shares are expected to be admitted to the premium segment of the Official List of the Financial Conduct Authority and to commence trading on the London Stock Exchange (LON:LSEG)'s Main Market around January 8, 2025.
Following the share issue, the Company's issued share capital is comprised of 301,302,716 ordinary shares with voting rights and 32,317,862 ordinary shares held in treasury. This total voting capital can be used by shareholders for the purpose of calculating notifications required under the FCA's Disclosure and Transparency Rules.
This financial move reflects the Company's ongoing efforts to provide value to its shareholders through dividend payments and the option to reinvest in the Company's growth. The information regarding this dividend payment and share allotment is based on a press release statement from the Company.
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