REG - Baronsmead Venture - Change of allotment date

Baronsmead Venture TrustAnnouncement

04/01/2024 15:45

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RNS Number : 7050Y  Baronsmead Venture Trust PLC  04 January 2024

Baronsmead Venture Trust plc

 

4 January 2024

 

CHANGE OF ALLOTMENT DATE

On 25 November 2023 Baronsmead Venture Trust plc (the "Company") published a
prospectus (the "Prospectus") in relation to offers for subscription to raise
up to £15 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"). Approximately £6 million as been subscribed to the
Company's Offer to date.

In order to protect the interests of both existing shareholders and
subscribers to the Company's offer, the Board has decided to change the date
of the first allotment of shares which was due to be on 11 January 2024.  As
set out in the Prospectus, the allotment price will be based upon the most
recently published net assest value ("NAV").  As the most recently published
NAV was the unaudited NAV as at 30 November 2023, the Board and the Investment
Manager are working to establish a more up to date NAV to reflect any material
market movements that may have taken place since then. An announcement will be
released to the London Stock Exchange prior to the revised date of the first
allotment, which is anticipated to be Friday, 26 January 2024.

In order to be allotted shares in the revised first allotment, applications
via cheque will need to be received by  19 January 2024 and applications via
bank transfer by 23 January 2024.  As a result of this change to the
allotment date, the deadline for the early bird offer as set out on page 45 of
the Prospectus, will now also be extended to 23 January 2024, subject to
cleared funds being received by the Receiving Agent and to a maximum of £7.5
million.

The next scheduled allotment dates are 15 February 2024 and 28 March 2024.
As stated in the Prospectus, the fourth allotment will only take place if the
Offer is not fully subscribed by 3 April 2024. As set out in the Prospectus,
the Board reserves the right to revise these dates, undertake additional
allotments, close its Offer and / or extend its Offer.

For further information please contact:

 

Baronsmead VCT Investor Relations

Telephone: +44 (0)20 7382 0999

baronsmeadvcts@greshamhouse.com

 

LEI: 213800VQ1PQHOJXDDQ88

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