REG - Baronsmead Second VT - Offer Update:Close of Early Subscription Incentive

Baronsmead Second Venture TrustAnnouncement

21/02/2025 13:15

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RNS Number : 0753Y  Baronsmead Second Venture Trust PLC  21 February 2025

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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
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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

 

21 February 2025

 

Offer Update - Closure of Early Subscription Incentive

 

The Board of Baronsmead Second Venture Trust plc (the "Company") announced on
10 January 2025 that the Company, together with Baronsmead Venture Trust plc
("BVT"), had published a prospectus in relation to offers for subscription to
raise up to £30 million in aggregate with an over-allotment facility to raise
up to a further £20 million in aggregate (the "Offers").

 

Under the Offers the Company's investment manager, Gresham House Asset
Management Limited, offered investors an early subscription incentive discount
on offer costs as set out on page 9 of the prospectus. This discount was
offered to investors that subscribed subject to a maximum aggregate
subscription amount under the 'early subscription incentive' Application
Amount qualifying for this discount of £7.5 million per company, on the
following basis:

 

·      existing shareholders receive a discount of 0.75 per cent. of
their Offer Costs; and

 

·      new investors receive a discount of 0.5 per cent. of their Offer
Costs.

 

The Company has now received valid Application Forms in relation to aggregate
Application Amounts that exceed £7.5 million under its Offer. Therefore, the
discounts set out under the Early Subscription Incentive will not apply to any
further Applications received in relation to the Company's Offer.

 

For fundraising enquiries please contact Gresham House on 020 3875 9851 or
email: wholesaledistribution@greshamhouse.com
(mailto:wholesaledistribution@greshamhouse.com) .

 

For VCT administration enquiries, please contact:

Baronsmead VCT Investor Relations

Telephone: +44 (0)20 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 10 January 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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