Update on Fundraising
24/02/2023 17:20
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RNS Number : 0501R Baronsmead Second Venture Trust PLC 24 February 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR
ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION
CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY
JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE
REPUBLIC OF SOUTH AFRICA.
BARONSMEAD SECOND VENTURE TRUST PLC
LEI: 2138008D3WUMF6TW8C28
24 February 2023
Offer update
The Board of Baronsmead Second Venture Trust plc (the "Company") announced on
16 December 2022 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 £40 million in aggregate with the discretion to
utilise over-allotment facilities to raise up to a further £10 million in
aggregate (the "Offers" and each an "Offer"). Full details of the Offers are
contained in the Prospectus.
To date, the Company has received valid Applications for New Shares under the
Offer in excess of £12 million.
Second Allotment update
Pursuant to the terms set out in the Prospectus, the Board has resolved to
revise the date of the Second Allotment of New Shares issued under the Offer.
The Second Allotment is now expected to take place on, or around, 13 March
2023 and will be based on the NAV per BSVT Share as at 28 February 2023. In
order for New Shares to be issued under the Second Allotment, a completed
Application must be received and the funds in relation to the Application must
have cleared by 9.00am on 6 March 2023.
For the avoidance of doubt, the Early Bird Discount is no longer available.
Terms used in this announcement have the same meaning as defined in the
Prospectus.
Copies of the Prospectus are available until the Offer closes from the
Company's website at www.baronsmeadvcts.co.uk/vctoffer
(http://www.baronsmeadvcts.co.uk/vctoffer) and the National Storage Mechanism
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .
Further information
For further information please contact:
Baronsmead VCT Investor Relations
020 7382 0999
baronsmeadvcts@greshamhouse.com
Notes
This announcement (the "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 Second Venture Trust plc or Baronsmead 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 by Baronsmead Second Venture Trust plc and Baronsmead
Venture Trust plc in connection with the proposed admission of new ordinary
shares to the premium segment of the Official List of the FCA and to trading
on London Stock Exchange plc's main market for listed securities. 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.
The distribution of this Announcement may be restricted by law in certain
jurisdictions and persons into whose possession any document or other
information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.
This Announcement does not constitute, and may not be construed as, an offer
to sell, or the solicitation of an offer to acquire or subscribe for,
securities of the Companies in any jurisdiction where such offer or
solicitation is unlawful or would impose any unfulfilled registration,
qualification, publication or approval requirements on the Companies or
Dickson Minto W.S. The offer and sale of securities of the Companies has not
been and will not be registered under the applicable securities laws of
Australia, Canada, Japan, the Republic of South Africa or the United States.
Subject to certain exemptions, the securities of the Companies may not be
offered to or sold within Australia, Canada, Japan, the Republic of South
Africa, the United States or any member state of the EEA or to any national,
resident or citizen of Australia, Canada, Japan, the Republic of South Africa,
the United States, or any member state of the EEA.
This Announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This Announcement is not
an offer of securities for sale into the United States. The securities of the
Companies have not been and will not be registered under the US Securities Act
of 1933, as amended, and may not be offered or sold in the United States or to
any national, resident or citizen of the United States. No public offering of
securities is being made in the United States. In addition, neither of the
Companies have been and neither will be registered under the US Investment
Company Act of 1940, as amended.
The information in this Announcement is for background purposes only and does
not purport to be full or complete. No reliance may be placed for any purpose
on the information contained in this Announcement or its accuracy or
completeness.
This Announcement does not constitute a recommendation concerning the
Companies or the Offers. The price and value of securities and any income from
them can go down as well as up. Past performance is not a guide to future
performance and prospective investors may not receive any return from the
Companies. Before purchasing any securities of the Companies, persons viewing
this Announcement should ensure that they fully understand and accept the
risks set out in the Prospectus. Information in this Announcement or any of
the documents relating to the Companies or the Offers cannot be relied upon as
a guide to future performance. Potential investors should consult a
professional adviser as to the suitability of the Offers for them.
Dickson Minto W.S, which is authorised and regulated by the FCA, is acting
only for the Companies in connection with the matters described in this
Announcement and is not acting for or advising any other person, or treating
any other person as its client, in relation thereto and will not be
responsible for providing the regulatory protection afforded to clients of
Dickson Minto W.S. or advice to any other person in relation to the matters
contained herein.
Neither Dickson Minto W.S., the Companies, or any of their respective parents
or subsidiary undertakings, or the subsidiary undertakings of any such parent
undertakings, or any of such person's respective directors, partners,
officers, employees, agents, affiliates or advisers or any other person
("their respective affiliates") accepts (save where required by law) any
responsibility or liability whatsoever for/or makes any representation or
warranty, express or implied, as to this Announcement, including the truth,
accuracy or completeness of the information in this Announcement (or whether
any information has been omitted from the Announcement) or any other
information relating to the Companies, whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available or for any loss
howsoever arising from any use of this Announcement or its contents or
otherwise arising in connection therewith.
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