Net Asset Value & Offer Updat

RNS Number : 5307P

Baronsmead VCT 3 PLC

26 March 2009

 



The Board of Baronsmead VCT 3 plc announces that the net asset value of the Ordinary Shares at 18 March 2009 was 97.96p per share. 

Based on the net asset values as at 18 March 2009, the Offer Prices of the New Ordinary Shares to be allotted on or before Friday 3 April 2009 is as follows:

Baronsmead VCT 3 plc         103.50p per New Ordinary Share

In accordance with the Offer for Subscription dated 11 February 2009, the Offer Price at which New Ordinary Shares will be allotted by Baronsmead VCT 3 plc is calculated on the basis of the following formula (the 'Pricing Formula'):

Latest published net asset value of an existing Ordinary Share divided by 0.95 (to allow for issue costs of 5.0 per cent.) rounded up to the nearest 0.5p per share.

As a result, the Offer Prices have been calculated as follows:

Offer Prices of New Ordinary Shares to be allotted on or before 3 April 2009

	Baronsmead VCT 3 plc (pence per New Ordinary Share)
Latest published NAV	97.96
Latest published NAV divided by 0.95	103.12
Offer Price (Rounding up to nearest 0.5p)	103.50

As at 25 March 2009, the Offer for Subscription had received applications in respect of subscriptions totalling £701,000. The Offer for Subscription is seeking to raising the sterling equivalent of €2.5m (i.e. approximately £2.3m).

An allotment is scheduled to take place on 3 April 2009.  The Board of Baronsmead VCT 3 plc reserves the right to vary the allotment timetable and close the offer before the 3 April 2009 in accordance with the terms and conditions set out in the Offer for Subscription.

Full details of the Offer for Subscription is available on the Company's website www.baronsmeadvct3.co.uk 

For further information contact: 

Michael Probin ISIS EP LLP:        020 7506 5796 
Paul Forster     ISIS EP LLP:        020 7506 5652

 

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