Issue of New Shares

RNS Number : 8716E

Baronsmead Venture Trust PLC

10 November 2020

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.

Baronsmead Venture Trust plc
LEI: 213800VQ1PQHOJXDDQ88

10 November 2020

Issue of New Shares pursuant to the Offer for Subscription

The Board of Baronsmead Venture Trust plc (the "Company") announced on 17 September 2020 that it had published a Prospectus in conjunction with Baronsmead Second Venture Trust plc in relation to an offer for subscription to each raise up to £20 million (before costs) with an over-allotment facility to each raise up to a further £17.5 million (the "Offer").

Under the Offer, the first allotment is to take place on 10 November 2020. Accordingly, the Company has today allotted 17,488,428 New Shares at an issue price of 75.20 pence and  pursuant to the first allotment of the Offer.  The issue price has been calculated by dividing the Company's latest published Net Asset Value of 71.74 pence per ordinary share as at 31 October 2020 by 0.955 in accordance with the terms of the Offer.

Applications have been made for the New Shares to be admitted to the Official List (with a Premium Listing) and to the London Stock Exchange for the New Shares to be admitted to trading on the Main Market.  It is expected that Admission will occur and dealing will commence in the New Shares to be issued pursuant to the Offer at 8.00 a.m. on 16 November 2020.

It is expected that share certificates and tax certificates in respect of the New Shares will be issued to the relevant Shareholders within 10 business days of the date of the allotment.

Total voting rights

Each Ordinary Share has one voting right.  Following the issue of New Shares pursuant to the Offer, the Company will have 270,174,233 Ordinary Shares in issue (of which 21,745,855 Ordinary Shares are held in treasury). The total number of voting rights in the Company will therefore be 248,428,378 and this figure may be used by Shareholders 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 Company under the Disclosure and Transparency Rules.

Further information

For further information please contact.

Baronsmead VCT Investor Relations

020 3875 9862

[e-mail]

Notes

This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investment in any jurisdiction, nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.

The issue and the distribution of this announcement and the Prospectus in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to in this announcement and the Prospectus comes should inform themselves about and observe any such restriction.  Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

 

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