Allotment of Shares

RNS Number : 2041V

Baronsmead Venture Trust PLC

03 April 2023

 

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR 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 2023

Allotment of Shares

The Board of Baronsmead Venture Trust plc (the "Company") announced on 16 December 2022 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 £40 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").

On 3 April 2023 and in accordance with the Allotment Formula set out in the Prospectus, the Company allotted 2,836,585 Ordinary Shares (the "New Ordinary Shares") pursuant to the third 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 58.91 pence per New Ordinary Share and  61.78 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 of an Ordinary Share as at 24 March 2023 (as announced on 30 March 2023, being the last published net asset value per Ordinary Share).

Application will shortly be made for the 2,836,585 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 5 April 2023. 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 353,784,530 (excluding the 27,836,727 Ordinary Shares currently held in Treasury) with each Ordinary Share carrying one vote each. Therefore, the total voting rights in the Company will be 353,784,530. 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 [e-mail]

 

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