Baronsmead VCT 4 plc Issue of Equity
11 Marzo 2013 - 6:40PM
UK Regulatory
TIDMBNS
Baronsmead VCT 4 plc
Allotment of Shares
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 GBP30 million (before issue costs) (the "Offers" and
each an "Offer"). The Offers opened on 11 December 2012. By 21 December 2012,
being the date on which the early investment incentive closed and from which
commission ceased to be payable to financial intermediaries for the provision
of financial advice, the Company had raised GBP3,945,105 (before expenses), which
included all amounts in respect of subscriptions, commissions waived and
reinvested and the application of the early investment incentive.
The Company announces the allotment of New Shares has taken place today at an
Offer Price of 102.70p per share pursuant to the Offer raising a further GBP
1,054,300 (before expenses).
In accordance with the Prospectus and the Costs of the Offers Update announced
on 21 December 2012, the Offer Price at which the New Shares have been allotted
in the Company was calculated on the basis of the following formula:
Latest published net asset value of an existing Ordinary Share on the day of
allotment divided by 0.97 (to allow for issue costs of 3.0 per cent.) rounded
up to the nearest 0.1p per share.
As a result, the Offer Price was calculated as follows:
Offer Price of New Shares allotted on 11 March 2013
Baronsmead VCT 4 plc
(pence per Share)
Latest published NAV as at 28 February 2013 99.58*
Latest published NAV divided by 0.97 102.65979
Offer Price (rounding up to nearest 0.1p) 102.70
* Stated after deducting the proposed final dividend of 4.0p per share payable
on 19 April to shareholders on the register as at 8 March 2013
The number of New Shares allotted and the total number of Ordinary Shares in
issue after the allotment are shown below:
New Shares Ordinary Shares
allotted in issue following allotment (1.)
Baronsmead VCT 4 plc 1,026,543 73,217,189
(1.) Includes 7,190,130 Ordinary Shares held in Treasury
The New Shares rank pari passu in all respects with the existing Ordinary
Shares.
Application has been made to the UK Listing Authority and the London Stock
Exchange for the New Ordinary Shares to be admitted to the Official List and to
trade on the London Stock Exchange's main market for listed securities. It is
expected that admission will become effective and dealings will commence on, or
around, 14 March 2013. Definitive documents of title and income tax relief
certificates are expected to be dispatched within ten business days of
allotment.
For further information, please contact:
Michael Probin - VCT Investor Relations Director
ISIS EP LLP
Telephone: 020 7506 5796
END
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