21 December 2012
Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3 plc,
Baronsmead VCT 4 plc and Baronsmead VCT 5 plc
Offers for Subscription - Costs of the Offers Update
On 20 November 2012 Baronsmead VCT
plc, Baronsmead VCT 2 plc, Baronsmead VCT 3 plc, Baronsmead VCT 4
plc and Baronsmead VCT 5 plc ("the Companies" and each a "Company")
published a Prospectus in relation to offers for subscription for
new ordinary shares of 10p each in each of the Companies ("New
Shares"), to raise in aggregate up to £30 million (before issue
costs) (the "Offers" and each an "Offer"). The Offers opened on
11 December 2012 and by 20 December 2012 Baronsmead VCT plc, Baronsmead
VCT 2 plc and Baronsmead VCT 3 plc had announced that each of their
respective Offers were fully subscribed and therefore closed. As a
result, Investors whose Subscription Forms are received seeking
Subscription for New Shares in these Companies, will have their
Subscription re-allocated or returned in accordance with their
instructions on their Subscription Form and the Terms and
Conditions of the Offers.
Costs of the Offers
The Offers for Baronsmead VCT 4 plc and Baronsmead VCT 5 plc
remain open and as from 22 December
2012 the costs of their respective Offers will be revised
from 5.5% to 3.0%. The Offer Price of the New Shares is determined
by the pricing formula being: the latest published NAV of an
existing share at the time of allotment divided by X rounded up to
the nearest 0.1p per share, where X is 0.97 (to allow for costs of
3%).
No introductory commission will be payable to authorised
financial intermediaries from 20 December
2012 but, where permissible, annual trail commission will be
paid by the Manager for up to four years, at the rate of 0.4% of
the aggregate amount subscribed from subscribers who have not
received financial advice in respect of their subscriptions and
their financial intermediary has acted in an "execution only"
capacity. A revised Subscription Form has now been published and is
available on the respective Companies' websites.
For further information, please contact:
Michael Probin - VCT Investor Relations Director
ISIS EP LLP
Telephone: 020 7506 5796