REG - Baronsmead Second VT - Allotment of Shares and Extension of Offer

Baronsmead Second Venture TrustAnnouncement

02/04/2026 14:00

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RNS Number : 3085Z  Baronsmead Second Venture Trust PLC  02 April 2026

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA,  THE UNITED STATES OR ANY MEMBER STATE OF THE EEA (OTHER THAN ANY
MEMBER STATE OF THE EEA WHERE THE COMPANY'S SECURITIES MAY BE LEGALLY
MARKETED), OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
ANNOUNCEMENT. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM
PART OF ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO
SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.

 

BARONSMEAD SECOND VENTURE TRUST PLC

 

LEI: 2138008D3WUMF6TW8C28

 

 

2 April 2026

 

 

Allotment of Shares, Total Voting Rights and Extension of Offer into 2026/27
tax year

 

The Board of Baronsmead Second Venture Trust plc (the "Company") announced on
13 October 2025 that the Company, together with Baronsmead Venture Trust plc,
had published a prospectus (the "Prospectus") in relation to offers for
subscription to raise up to £30 million in aggregate with the discretion to
utilise over-allotment facilities to raise up to a further £20 million in
aggregate (the "Offers" and each an "Offer").

 

On 2 April 2026 and in accordance with the Allotment Formula set out in the
Prospectus, the Company allotted 12,370,324 Ordinary Shares of 10 pence each
in the capital of the Company (the "New Ordinary Shares") pursuant to the
Offer. The New Ordinary Shares were issued at prices of between 47.27 pence
per New Ordinary Share and 49.56 pence per New Ordinary Share, depending on
the amount of Offer Costs, any Initial Commission waived, any Initial Adviser
Charges, any Early Subscription Incentive associated with an Application and
based on the net asset value per Ordinary Share as at 25 March 2026 (as
announced on 30 March 2026, being the last published net asset value per
Ordinary Share). The average issue price was 48.01 pence per share.

 

Application will shortly be made for the New Ordinary Shares to be admitted to
trading on the London Stock Exchange plc's main market for listed securities
("Admission"). It is expected that Admission will occur and dealing will
commence in the New Ordinary Shares on or around 8 April 2026. The New
Ordinary Shares rank pari passu with the existing Ordinary Shares.

 

As a result of the issue, the total number of Ordinary Shares in issue will be
495,704,729 (including the 62,912,241 Ordinary Shares currently held in
Treasury) with each Ordinary Share carrying one vote each. Therefore, the
total voting rights in the Company will be 432,792,488. This figure may be
used by shareholders in the Company as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company under the
Disclosure Guidance and Transparency Rules.

 

The New Ordinary Shares will be issued in registered form and may be held in
uncertificated form.  Definitive documents of title are expected to be
dispatched within 10 business days of allotment. The New Ordinary Shares will
be eligible for settlement through CREST with effect from Admission.

 

The Board further announces that it has decided to extend the Offer into part
of the 2026/2027 tax year with a fifth and final allotment expected to take
place on or around 14 May 2026 at which point the Offer will close. The date
for receiving applications for the fifth and final allotment has been extended
to 12 noon on 12 May 2026. All Application Amounts must be submitted via bank
transfer and funds must have cleared before 12 noon on 12 May 2026. Applicants
are advised that for investments relating to the 2026/2027 tax year, the UK
Government has announced that the up-front income tax relief on subscriptions
for shares in a VCT will be reduced from 30% to 20% from 6 April 2026, subject
to the relevant legislation being passed. Please consult your financial
adviser for further information.

 

Unless the context requires otherwise, terms defined in the Prospectus have
the same meaning where used in this announcement.

 

 

For further information please contact:

 

Baronsmead VCT Investor Relations

020 7382 0999

baronsmeadvcts@greshamhouse.com (mailto:baronsmeadvcts@greshamhouse.com)

 

Notes

This Announcement is an advertisement for the purposes of the Prospectus
Regulation Rules of the UK Financial Conduct Authority ("FCA") and is not a
prospectus. This Announcement does not constitute or form part of, and should
not be construed as, an offer for sale or subscription of, or solicitation of
any offer to subscribe for or to acquire, any ordinary shares in Baronsmead
Venture Trust plc or Baronsmead Second Venture Trust plc (together the
"Companies") in any jurisdiction, including in or into Australia, Canada,
Japan, the Republic of South Africa, the United States or any member state of
the EEA (other than any member state of the EEA where the Companies'
securities may be lawfully marketed). Investors should not subscribe for or
purchase any ordinary shares referred to in this Announcement except on the
basis of information in the prospectus (the "Prospectus") in its final form,
published on 13 October 2025 by Baronsmead Venture Trust plc and Baronsmead
Second Venture Trust plc, in connection with the Offer. A copy of the
Prospectus  is available for inspection, subject to certain access
restrictions, from the Company's registered office, for viewing at the
National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) and on the Company's
website (http://www.baronsmeadvcts.co.uk (http://www.baronsmeadvcts.co.uk) ).
Approval of the Prospectus by the FCA should not be understood as an
endorsement of the securities that are the subject of the Prospectus.
Potential investors are recommended to read the Prospectus before making an
investment decision in order to fully understand the potential risks and
rewards associated with a decision to invest in the Companies' securities.

 

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