NOT FOR RELEASE, DISTRIBUTION OR
PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR
INTO, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE
UNITED STATES OR ANY MEMBER STATE OF THE EEA (OTHER THAN ANY MEMBER
STATE OF THE EEA WHERE THE COMPANY'S SECURITIES MAY BE LEGALLY
MARKETED), OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS ANNOUNCEMENT. THE INFORMATION CONTAINED HEREIN DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER TO ISSUE OR SELL, OR ANY
SOLICITATION OF ANY OFFER TO SUBSCRIBE OR PURCHASE, ANY INVESTMENTS
IN ANY JURISDICTION.
Baronsmead Venture Trust plc
LEI: 213800VQ1PQHOJXDDQ88
2 February 2024
Announcement of Intention to Utilise Over-allotment Facility
and Offer Update
The Board of Baronsmead Venture
Trust plc (the "Company")
announced on 24 November 2023 that the Company, together with
Baronsmead Second Venture Trust plc, had published a prospectus
(the "Prospectus") in
relation to offers for subscription to raise up to £30 million in
aggregate with the discretion to utilise Over-allotment Facilities
to raise up to a further £20 million in aggregate (the
"Offers" and each an
"Offer"). Full details of
the Offer are contained in the Prospectus as supplemented by the
supplementary prospectus dated 19 January 2024.
The Board is pleased to announce
that, as of close of business on 1 February 2024, valid
applications have been received for almost £12 million under
the Company's Offer and therefore the initial amount is likely to
be fully subscribed for shortly. On the basis of the deal pipeline,
the Board has resolved that it is in the best interests of
Shareholders to utilise the Over-allotment Facility and
subscriptions will be accepted to raise up to an additional £10
million, subject to the terms of the Offer.
The first allotment of shares in
respect of valid applications accepted by the Company took place on
26 January 2024. The next scheduled
allotment date is 15 February 2024 with the third allotment date
being 28 March 2024. As stated in the Prospectus, the fourth
allotment will only take place if the Offer is not fully subscribed
by 3 April 2024 and the Board decides to extend the period of the
Offer.
All
capitalised terms used and not defined herein shall have the same
meaning as in the Prospectus.
For further information please
contact:
Baronsmead VCT Investor
Relations
020 7382 0999
baronsmeadvcts@greshamhouse.com
Important Information
This Announcement is an
advertisement for the purposes of the Prospectus Regulation Rules
of the UK Financial Conduct Authority ("FCA") and is not a
prospectus. This Announcement does not constitute or form part of,
and should not be construed as, an offer for sale or subscription
of, or solicitation of any offer to subscribe for or to acquire,
any ordinary shares in Baronsmead Venture Trust plc or Baronsmead
Second Venture Trust plc (together the "Companies") in any
jurisdiction, including in or into Australia, Canada, Japan, the
Republic of South Africa, the United States or any member state of
the EEA (other than any member state of the EEA where the
Companies' securities may be lawfully marketed). Investors should
not subscribe for or purchase any ordinary shares referred to in
this Announcement except on the basis of information in the
prospectus (the "Prospectus") in its final form, published on 24
November 2023 by Baronsmead Venture Trust plc and Baronsmead Second
Venture Trust plc, together with the supplementary prospectus
published on 19 January 2024 (the "Supplementary Prospectus"), in
connection with the Offer. A copy of the Prospectus and
Supplementary Prospectus is available for inspection, subject
to certain access restrictions, from the Company's registered
office, for viewing at the National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
and on the Company's website
(http://www.baronsmeadvcts.co.uk).
Approval of the Prospectus and Supplementary Prospectus by the FCA
should not be understood as an endorsement of the securities that
are the subject of the Prospectus and Supplementary Prospectus.
Potential investors are recommended to read the Prospectus and
Supplementary Prospectus before making an investment decision in
order to fully understand the potential risks and rewards
associated with a decision to invest in the Companies'
securities.