REG - Baronsmead Venture - Allotment of Shares and Total Voting Rights

Baronsmead Venture TrustAnnouncement

03/04/2025 14:00

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RNS Number : 5811D  Baronsmead Venture Trust PLC  03 April 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
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

 

3 April 2025

 

Allotment of Shares and Total Voting Rights

The Board of Baronsmead Venture Trust plc (the "Company") announced on 10
January 2025 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 £30 million in aggregate with the discretion to
utilise over-allotment facilities to raise up to a further £20 million in
aggregate (the "Offers" and each an "Offer").

On 3 April 2025 and in accordance with the Allotment Formula set out in the
Prospectus, the Company allotted 21,838,572 Ordinary Shares of 10 pence each
(the "New Ordinary Shares") in the capital of the Company pursuant to 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
52.64 pence per New Ordinary Share and 55.35 pence per New Ordinary Share,
depending on the amount of Offer Costs, any Initial Commission waived, any
Initial Adviser Charges, any Early Subscription Incentive associated with an
Application and based on the net asset value per Ordinary Share as at 28
February 2025 (as announced on 6 March 2025, being the last published net
asset value per Ordinary Share). The average issue price was 53.57 pence per
share.

Application will shortly be made for the New Ordinary Shares to be admitted to
the Official List of the Financial Conduct Authority and to trading on the
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 8 April 2025. When issued, the New Ordinary
Shares will rank pari passu with the existing Ordinary Shares.

In addition, the Board has decided to extend the period of the Offer into the
2025/2026 Tax Year, as set out in the Prospectus, with a third and final
allotment to take place on 1 May 2025 at which point the Offer will close.

As a result of the issue, the total number of Ordinary Shares in issue will be
462,575,051 (including the 45,615,604 Ordinary Shares currently held in
Treasury) with each Ordinary Share carrying one vote each. Therefore, the
total voting rights in the Company will be 416,959,447. 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)

 

 

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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