BSR BR.Smlr Tec Vct

RNS Number:4149V
British Smaller Tech Cos VCT PLC
09 December 2005


                                  ANNOUNCEMENT

                  BRITISH SMALLER TECHNOLOGY COMPANIES VCT PLC
                            ("BSTC" / the "Company")

                             FOR IMMEDIATE RELEASE

This announcement is made in connection with a scheme for the reconstruction of
the Company ("Scheme"), details of which were published on 31 October 2005.

The board of directors of BSTC is pleased to announce that all the resolutions
proposed at an Extraordinary General Meeting of the Company held on Thursday 8
December 2005 were duly passed. Accordingly, by way of implementation of the
Scheme, the assets and liabilities of the Company will today be transferred to
British Smaller Technology Companies VCT 2 PLC ("BSTC2") and BSTC2 will issue
the consideration shares.

The total number of consideration shares to the issued to BSTC shareholders is
expected to be 9,588,347, equal to 0.6866 shares for each BSTC share. It is
anticipated that share certificates in respect of the BSTC2 consideration shares
will be despatched, or the relevant CREST accounts credited, on 14 December
2005.

Application has been made for all the consideration shares to be admitted to the
Official List and to trading on the main market of the London Stock Exchange. It
is expected that admission will become effective and that trading will commence
on 14 December 2005.

The Company has today requested cancellation of the listing of the ordinary
shares of 10p each in the capital of the Company to take effect from 08.00 am on
12 December 2005.



Enquiries

BSTC: Jim Gervasio, 0113 399 3571

BSTC2: Jim Gervasio, 0113 399 3571

YFM Private Equity Limited: Peter Hindle, 0113 294 5050


ENDS






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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