Net Asset Value & Offer Updat

RNS Number : 5349P

Baronsmead VCT 2 PLC

26 March 2009

 



The Board of Baronsmead VCT 2 plc announces that the net asset value of the Ordinary Shares at 18 March 2009 was 86.74p per share. 

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

Baronsmead VCT plc            76.00p per New Ordinary Share

Baronsmead VCT 2 plc         92.00p per New Ordinary Share

In accordance with the Prospectus dated 9 September 2008, the Offer Prices at which the remaining New Ordinary Shares will be allotted in each Company are calculated separately on the basis of the following formula (the 'Pricing Formula'):

Latest published net asset value of an existing Ordinary Share divided by 0.945 (to allow for issue costs of 5.5 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 plc (pence per New Ordinary Share)	Baronsmead VCT 2 plc (pence per New Ordinary Share)
Latest published NAV	71.62	86.74
Latest published NAV divided by 0.945	75.79	91.79
Offer Price (Rounding up to nearest 0.5p)	76.00	92.00

As at 25 March 2009, the Joint Offer has received applications in respect of subscriptions totalling £12,542,325. The Joint Offer is seeking to raising approximately £22,500,000 in aggregate.

Allotments are scheduled to take place on 30 March and 3 April 2009.  The Boards of Baronsmead VCT plc and Baronsmead VCT 2 plc reserve 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 Prospectus.

Full details of the Joint Offer are contained in the summary, securities note, registration document and supplementary prospectus (together constituting a prospectus issued by the Companies) ('Prospectus'), which is available on the Companies' websites www.baronsmeadvct.co.uk and www.baronsmeadvct2.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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