REG - Baronsmead Venture - Intention to Utilise Over-allotment Facility

Baronsmead Venture TrustAnnouncement

02/02/2024 08:00

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RNS Number : 8524B  Baronsmead Venture Trust PLC  02 February 2024

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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

 

2 February 2024

Announcement of Intention to Utilise Over-allotment Facility and Offer Update

The Board of Baronsmead Venture Trust plc (the "Company") announced on 24
November 2023 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"). Full details of the Offer are
contained in the Prospectus as supplemented by the supplementary prospectus
dated 19 January 2024.

The Board is pleased to announce that, as of close of business on 1 February
2024, valid applications  have been received for almost £12 million under
the Company's Offer and therefore the initial amount is likely to be fully
subscribed for shortly. On the basis of the deal pipeline, the Board has
resolved that it is in the best interests of Shareholders to utilise the
Over-allotment Facility and subscriptions will be accepted to raise up to an
additional £10 million, subject to the terms of the Offer.

The first allotment of shares in respect of valid applications accepted by the
Company took place on 26 January 2024. The next scheduled allotment date is 15
February 2024 with the third allotment date being 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 and the Board decides to extend the
period of the Offer.

All capitalised terms used and not defined herein shall have the same meaning
as in the Prospectus.

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 24 November 2023 by Baronsmead Venture Trust plc and Baronsmead
Second Venture Trust plc, together with the supplementary prospectus published
on 19 January 2024 (the "Supplementary Prospectus"), in connection with the
Offer. A copy of the Prospectus and Supplementary 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 and Supplementary Prospectus by the FCA should not
be understood as an endorsement of the securities that are the subject of the
Prospectus and Supplementary Prospectus. Potential investors are recommended
to read the Prospectus and 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.

 

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