29th Apr 2008 09:08
British SmallerTechCompaniesVCT2PLC29 April 2008 British Smaller Technology Companies VCT 2 plc ("the Company") Announcement in respect of holding in Sarian Systems Ltd The Company held 2,202 shares in Sarian Systems Ltd representing approximately17.3% of that company's fully diluted issued share capital. Yesterday DigiInternational Inc, a Company quoted on Nasdaq, announced the acquisition ofSarian Systems in a cash transaction for approximately $30.5m. This transaction has resulted in a cash receipt of approximately £2.6m for theCompany compared to a carrying value of £1.3m which was incorporated within thenet asset value of British Smaller Technology Companies VCT 2 plc at 31 December2007. Consequently the effect of this transaction had it been incorporated intothe accounts at 31 December 2007 would have been to have increased the Company'snet asset value per share from 79.0 pence per share to 86.7 pence per share, anincrease of 9.7%. The impact on the total return, calculated by reference to the net asset valueper share and cumulative dividends paid, would have been to have increased thetotal return at 31 December 2007 from 89.5 pence per share to 97.2 pence pershare. In conformity with the Transparency Directive's transitional provision 6, theCompany notifies the market of the following: The Company's issued share capital consists of 16,641,257 Ordinary Shares withvoting rights. Therefore, the total number of voting rights is 16,641,257. The above figure may be used by shareholders as the denominator for thecalculations by which they will determine if they are required to notify theirinterest in, or a change to their interest in the Company under the FSA'sDisclosure and Transparency Rules. 29 April 2008 End For further details, please contact: David Hall, YFM Private Equity Tel: 0161 832 7603 Johnathan Becher, Landsbanki Limited Tel: 0207 426 3269 Michael Bellamy, Landsbanki Limited Tel: 0207 426 9547 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Br.small Co.2