REG - Baronsmead Second VT Baronsmead Venture - Offer Update Extension of Early Bird Discount Date

Baronsmead Venture TrustAnnouncement

22/01/2024 15:00

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RNS Number : 5020A  Baronsmead Second Venture Trust PLC  22 January 2024

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION. 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.

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS.

Baronsmead SECOND Venture Trust plc

 

LEI: 2138008D3WUMF6TW8C28

 

22 January 2024

Offer Update - Extension of Early Bird Discount Date

 

The Board of Baronsmead Second Venture Trust plc (the "Company") announced on
24 November 2023 that the Company, together with Baronsmead Venture Trust plc,
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 bird' discount on offer costs.
This discount was offered to investors that subscribed on or before 23 January
2024 subject to a maximum aggregate subscription amount under the 'early bird'
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 Board has decided to extend the deadline for the early bird offer as set
out on page 45 of the Prospectus to 8 February 2024, subject to cleared funds
being received by the Receiving Agent and to a maximum of £7.5 million.

All subscriptions will be processed on a "first come, first served" basis.
Investors can subscribe for new shares online by logging on to
www.baronsmeadvcts.co.uk/vctoffer and completing an electronic subscription
form or by completing a paper subscription form which can be found at the back
of the prospectus or downloaded from the Baronsmead website at
www.baronsmeadvcts.co.uk/vctoffer (http://www.baronsmeadvcts.co.uk/vctoffer) .

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

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 the United States,
Australia, Canada, Japan or the Republic of South Africa. 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 24 November 2023 by Baronsmead Venture Trust plc and
Baronsmead Second 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 (as amended by a supplementary prospectus published on 19 January
2024). Copies of the Prospectus and the Supplementary Prospectus are available
for inspection, subject to certain access restrictions, from the Companies'
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
Companies' website (http://www.baronsmeadvcts.co.uk
(http://www.baronsmeadvcts.co.uk/) ). Approval of the Prospectus and the
Supplementary Prospectus by the FCA should not be understood as an endorsement
of the securities that are the subject of the Prospectus and the Supplementary
Prospectus. Potential investors are recommended to read the Prospectus and the
Supplementary 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 either of the Companies
or Howard Kennedy Corporate Services LLP. The offer and sale of securities of
the Companies has not been and will not be registered under the applicable
securities laws of the United States, Australia, Canada, Japan or the Republic
of South Africa. Subject to certain exemptions, the securities of the
Companies may not be offered to or sold within the United States, Australia,
Canada, Japan or the Republic of South Africa or to any national, resident or
citizen of the United States, Australia, Canada, Japan or the Republic of
South Africa.

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, the Companies have
not been and the Companies will not 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. The material contained in this announcement is given as at the
date of its publication (unless otherwise marked) and is subject to updating,
revision and amendment. In particular, any proposals referred to herein are
subject to revision and amendment.

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 either
Company. Before purchasing any securities of either Company, persons viewing
this announcement should ensure that they fully understand and accept the
risks set out in the Prospectus and the Supplementary 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.

Howard Kennedy Corporate Services LLP, 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 Howard Kennedy Corporate Services LLP or advice to any other person
in relation to the matters contained herein.

Neither Howard Kennedy Corporate Services LLP, 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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