Last checked at 
6 Feb 2013 17:54
Amati VCT 2 plc 6 February 2013 Offer for Subscription Amati VCT 2 plc (the "Company") announces that, together with Amati VCT plc, it has today published a joint prospectus and circular (the "Prospectus") in connection with proposals to raise up to £15 million each through offers for subscription of new ordinary shares (the "Offers") which include Enhanced Share Buyback and Re-investment Facilities (the "ESBRF") and to make available up to £2 million of new ordinary shares each through the existing Dividend Re-investment Schemes. The Prospectus contains a notice of general meeting of each company with the Amati VCT 2 plc general meeting convened for 1.30pm on 7 March 2013 at Abchurch Communications, 125 Old Broad Street, London EC2N 1AR. The notices contain resolutions (i) to approve the terms of the proposals, (ii) to authorise the issue of new ordinary shares, (iii) to disapply pre-emption rights in respect of the proposed issues, and (iv) to authorise the Company to buy back up to 24.99% of its issued share capital on the date of the resolution through share buybacks including by way of the ESBRF (as described in more detail below). The Offers open on 6 February 2013 and are expected to close at 12 noon on 5 April 2013 in relation to the offer for subscription in respect of the 2012/2013 tax year, and at 12 noon on 23 January 2014 in relation to the offer for subscription in respect of the 2013/2014 tax year (or on an earlier date if the Offer is fully subscribed or the Directors otherwise determine). It is expected that issues of new ordinary shares will be made at monthly intervals (or more frequently at the discretion of the investment manager) and that the new ordinary shares issued will be admitted to the Official List of the UKLA and to trading on the main market of the London Stock Exchange upon issue. For those shareholders who wish to fund the purchase of new shares in this Offer by selling their existing holding of shares in the Company, the Board is proposing to make available, subject to the required shareholder approval, the ESBRF similar to that which both VCTs have made available in previous share offers. The new ordinary shares will be issued at an issue price determined in accordance with a formula (as set out in the Prospectus) and based on the last prevailing net asset value of the Company prior to the date of issue (adjusted for any accrued performance fee) divided by 0.95. Existing shareholders and new investors are entitled, in certain circumstances, to additional shares of up to 3% of their subscription amount. Those entitled to participate in the "early bird" offer and who apply before 8 March 2013 will be entitled to a further 1%. Details are set out in the Prospectus. A copy of the Prospectus can be obtained by contacting Doreen Nic at the City Partnership on 0131 243 7210 or by emailing vct-enquiries@amatiglobal.com. Copies of the Prospectus will be submitted to the National Storage Mechanism and will shortly be available for viewing online at the following web-site address: http://www.hemscott.com/nsm.do For further information please contact: Doreen Nic The City Partnership (UK) Limited Company Secretary Telephone: (0131) 243 7210
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Detailed monthly updates on portfolio activity and performance are posted on the Amati Global Investors website (see http://www.amatiglobal.com/avct_performance.php). Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement. END
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