Update on Fundraising

RNS Number : 7497R

Baronsmead Second Venture Trust PLC

25 September 2017

 

25 September 2017

BARONSMEAD SECOND VENTURE TRUST PLC

Update on Proposed Fundraising

On 2 August 2017 the Company and Baronsmead Venture Trust plc ("BVT") announced that they intended to launch offers for subscription in October 2017. Accordingly the Boards of the Company and BVT have resolved to launch offers for subscription to raise up to £45 million in aggregate (the "Offers").

The Boards will also be able to utilise over allotment facilities to raise up to a further £15 million in aggregate if sufficient demand arises prior to the close of the Offers and if the relevant Directors resolve that it is in the best interests of their shareholders to utilise their respective over allotment facilities.

It is currently anticipated that each Offer will initially be open exclusively to satisfy subscriptions from the relevant Company's existing shareholders for approximately 10 calendar days. Following this initial exclusivity period the Offers will be open to all investors.

Further details of the Offers will be set out in a prospectus which is currently expected to be published during the week commencing 2 October 2017.

For further information please contact:

Michael Probin
VCT Investor Relations Director
Telephone: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations ((EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

 

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