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Our team is made up of the Board of Directors and the investment team.
Investment Team
The Company's Fund Manager is YFM Private Equity Limited, part of the YFM Group, which is the most active investor9 of equity
in UK small and medium sized businesses, with ten UK office locations, in excess of 40 full time investment staff and funds under
management of approximately £300 million focussed on investments of up to £8m in MBOs, MBIs and development capital.
At date of this prospectus YFM Group (Holdings) Limited, the ultimate parent company of both YFM Group Limited and YFM Private
Equity Limited, has received an approach to acquire its entire share capital. This approach may or may not result in a transaction.
In the opinion of the directors of YFM Group (Holdings) Limited and the investment team it is not envisaged that there would be
any change to either the members of the Company's investment team or the operation of YFM Group that would have any material
effect in respect of its relationship with British Smaller Companies VCT or its ability to manage its investment portfolio.
The investment team comprises principally 4 key executives with extensive venture capital experience. This experience has
enabled YFM Private Equity to establish strong networks of deal introducers, effective investment selection processes and
strong portfolio management procedures.
David Hall (47) Managing Director. David became the managing director of YFM Private Equity in 2003 at which time he
became responsible for the management of British Smaller Companies VCT. He was previously Head of Investment and a
member of the management buy out team for AiM Listed Enterprise Plc. David trained as a Chartered Accountant with
PricewaterhouseCoopers and qualified in 1986. He also holds a BA (Hons) in Economics from the University of Manchester.
David Gee (46) Investment Director. David has 18 years experience in the venture capital field with YFM Private Equity. Since
1996 he has been investment director on the board of YFM Private Equity Limited. He is a non-executive director of several
companies including an investee of British Smaller Technology Companies VCT 2 Plc. He qualified as a Chartered Accountant
with Grant Thornton, latterly specialising in corporate finance.
John Cook (66) Portfolio Director. John is a Chartered Engineer and as portfolio director on the board of YFM Private Equity,
is responsible for undertaking post investment monitoring and divestments. He has had a number of roles over his 21 years in
venture capital, including Investment Director. He holds several non executive directorships in a variety of portfolio companies.
He also has experience of running his own property contracting and distribution businesses.
Nigel Barraclough (42) Fund Manager. Nigel joined YFM Private Equity in 1991, where he has been responsible for the
appraisal, negotiation and conclusion of many deals in a varied range of sectors. He has been making venture capital
investments since 1995 and led a number of the Company's investments. Nigel is a Chartered Accountant. After qualifying, he
joined Ernst & Young as an investigating accountant.
The Board of Directors
The Board consists of five non-executive directors who are listed below, four of whom are independent of YFM Private Equity
for the purposes of the Combined Code. The Board has overall responsibility for British Smaller Companies VCT, its investment
policy and its administration and has appointed YFM Private Equity as the Fund Manager.
Sir Andrew Colin Hugh Smith, Chairman (76) following a career at the Bar and in industry, became a partner of Capel Cure
Myers in 1970, senior partner in 1979 and left the firm in 1988 to become chairman of the London Stock Exchange. He retired
from the Exchange in 1994. He was chairman of British Smaller Technology Companies VCT 2 plc until his retirement on 31
December 2007. Sir Andrew has indicated his wish to retire from the Board shortly after the Company’s next year end in March
2008 and a suitable replacement is being sought.
Richard Last (50) qualified as a chartered accountant with PricewaterhouseCoopers. He is chairman of British Smaller
Technology Companies VCT 2 plc, Xpertise Group plc, an AIM quoted IT training group, Knowledge Technology Solutions plc,
an AIM listed IT software company, and is a non-executive director of Patsystems plc and Financial Payment Systems Limited,
both AIM quoted IT software companies, and Lighthouse plc, an AIM quoted provider of financial services.
Robert Martin Pettigrew (63) has more than 20 years experience in the development of emerging businesses and, in particular,
the commercial exploitation of new technologies. He co-founded The Generics Group of companies (renamed Sagentia) in 1986,
which is one of the leading technology consulting and investment groups and was a key member of the team that took the
company public in December 2000. He retired from The Generics group at the end of 2002 to pursue independent investment
activities. He is an investor director on the board of a number of technology companies, including Sphere Medical Limited,
Timberpost Limited, Digital Healthcare Limited and Acal Energy Limited (of which he is Chairman). He is also a non-executive
director of British Smaller Technology Companies VCT 2 plc.
Philip Simon Cammerman (65) has over 20 years of industrial experience in engineering and hi-tech industries and has worked
in both the USA and the UK. He has spent the last 22 years in the venture capital industry and is Chairman of YFM Private Equity
and a director of YFM Group Limited. He has been responsible for a wide range of venture capital deals in a variety of industries
including hi-tech, software, computer maintenance, engineering, printing, safety equipment, design and textiles. He is a nonexecutive
director of British Smaller Technology Companies VCT 2 plc.
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