Baronsmead Venture - Allotment of Shares
30/01/2023 15:07
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RNS Number : 3000O Baronsmead Venture Trust PLC 30 January 2023
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 Venture Trust plc
LEI: 213800VQ1PQHOJXDDQ88
30 January 2023
Allotment of Shares
The Board of Baronsmead Venture Trust plc (the "Company") announced on 16
December 2022 that the Company, together with Baronsmead Second 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").
On 30 January 2023 and in accordance with the Allotment Formula set out in the
Prospectus, the Company allotted 17,137,001 Ordinary Shares (the "New Ordinary
Shares") pursuant to the first allotment under the Offer conditional only on
Admission (the timetable for which is set out in more detail below). The New
Ordinary Shares were issued at prices of between 63.57 pence per New Ordinary
Share and 67.19 pence per New Ordinary Share, depending on the amount of Offer
Costs, any Initial Commission waived, any Initial Adviser Charges, any Early
Bird Discount associated with an Application and based on the net asset value
of an Ordinary Share as at 31 December 2022 (as announced on 27 January
2023, being the last published net asset value per Ordinary Share).
Application will shortly be made for the 17,137,001 New Ordinary Shares to be
admitted to the premium segment of the Official List of the Financial Conduct
Authority and to trading on the premium segment of 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 3
February 2023. When issued, the New Ordinary Shares will rank pari passu with
the existing Ordinary Shares.
As a result of the issue, the total number of Ordinary Shares in issue will be
331,658,688 (excluding the 27,523,954 Ordinary Shares currently held in
Treasury) with each Ordinary Share carrying one vote each. Therefore, the
total voting rights in the Company will be 331,658,688. 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.
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)
Important Information
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 16 December 2022 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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