REG - Baronsmead Venture - Share Allotment,Total Voting Rights,Close of Offer

Baronsmead Venture TrustAnnouncement

28/03/2024 11:00

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RNS Number : 7160I  Baronsmead Venture Trust PLC  28 March 2024

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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

 

28 March 2024

Allotment of Shares, Total Voting Rights and Close of Offer

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").

On 19 March 2024 (the "Close Date"), the Company announced that the Offer was
closed to new subscriptions and that no further Applications for New Shares
would be accepted.

On 28 March 2024 and in accordance with the Allotment Formula set out in the
Prospectus, the Company allotted 19,051,906 Ordinary Shares of 10 pence each
(the "New Ordinary Shares") in the capital of the Company pursuant to the
third and final 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 56.80 pence per New Ordinary Share and 59.56
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 per
Ordinary Share as at 29 February 2024 (being the last published net asset
value per Ordinary Share as announced on 6 March 2024).

Application will shortly be made for the 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 3
April 2024. 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
391,292,410 (excluding the 33,172,409 Ordinary Shares currently held in
Treasury) with each Ordinary Share carrying one vote each. Therefore, the
total voting rights in the Company will be 391,292,410. 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 the avoidance of doubt, the Offer in respect of the Company is now closed
but the Offer in respect of Baronsmead Second Venture Trust plc remains open.

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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