BSC VCT2 Dividend Reinvestment Scheme (DRIS)

Terms and conditions

To view a copy of the terms and conditions for the British Smaller Companies VCT2 plc Dividend Reinvestment Scheme (DRIS) click here. The mandate form is at the back of the T&Cs.

British Smaller Companies VCT2 plc DRIS History:

Date	No. issued	Price £	Value £
03-Jun-05	77,311	0.7680	59,375
10-Jun-11	3,762	0.6308	2,373
	81,073	Totals	61,748

 

Dividend reinvestment enables Shareholders to increase their total holding and grow capital in the Company without incurring dealing costs, issue costs or stamp duty.  Subject to individual circumstances, these Shares should qualify for income tax relief (currently 30%) that is applicable to subscriptions for new shares in Venture Capital Trusts.

The number of New Ordinary Shares issued is calculated by dividing the aggregate value of the dividends paid by the greater of the most recently announced financial year end or half yearly net asset value, adjusted for the relevant dividend in question, less 5%.  An example is set out below based on the last dividend paid:

Pence per share
Net Asset Value @ 30 June 2011 (half year)	68.0
Adjusted for dividend in question (2p interim)	(2.0)
	66.0
Less 5%	(3.3)
Issue Price	62.7
Less 30% tax relief*	(18.8)
Price after tax relief	43.9

For investors buying in the secondary market, the share price as at 7 September 2011 is 56.5 pence per share and shares purchased in the secondary market do not qualify for any tax relief.

* Subject to individual circumstances