Baronsmead Venture - Allotment of Shares
03/04/2023 15:47
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RNS Number : 2041V Baronsmead Venture Trust PLC 03 April 2023
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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 Venture Trust plc
LEI: 213800VQ1PQHOJXDDQ88
3 April 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 3 April 2023 and in accordance with the Allotment Formula set out in the
Prospectus, the Company allotted 2,836,585 Ordinary Shares (the "New Ordinary
Shares") pursuant to the third 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 58.91 pence per New Ordinary
Share and 61.78 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 24 March 2023 (as announced on 30 March 2023,
being the last published net asset value per Ordinary Share).
Application will shortly be made for the 2,836,585 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 5
April 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
353,784,530 (excluding the 27,836,727 Ordinary Shares currently held in
Treasury) with each Ordinary Share carrying one vote each. Therefore, the
total voting rights in the Company will be 353,784,530. 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)
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