Baronsmead Second Venture Trust PLC Issue of New Shares (0645A)
December 21 2017 - 4:16AM
UK Regulatory
TIDMBMD
RNS Number : 0645A
Baronsmead Second Venture Trust PLC
21 December 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH
AFRICA OR ANY JURISDICTION IN WHICH THE SAME COULD BE UNLAWFUL. THE
INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF
SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED
STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA.
BARONSMEAD SECOND VENTURE TRUST PLC
21 December 2017
Issue of New Shares pursuant to the Offer for Subscription
On 4 October 2017, Baronsmead Second Venture Trust plc (the
"Company") published a prospectus (the "Prospectus") in relation to
an offer for subscription to raise up to GBP24 million (the
"Offer").
The Company announced on 21 November 2017 that it had raised
gross proceeds of approximately GBP21 million pursuant to the Offer
and accordingly had issued 21,593,264 New Shares in aggregate under
the Offer because of allotments that occurred on 26 October 2017,
17 November 2017 and 21 November 2017. Since then the Company has
raised additional gross proceeds of approximately GBP2,119,000.
Accordingly the Company has carried out a fourth allotment of New
Shares pursuant to the Offer, issuing 2,160,004 New Shares in
aggregate at an issue price of 98.10 pence. The issue price of the
fourth allotment has been calculated by dividing the Company's
latest published Net Asset Value of 95.07 pence as at 30 November
2017 by 0.97 in accordance with the pricing formula set out in the
Prospectus.
Applications have been made for the New Shares to be issued
pursuant to the Offer to be admitted to the Official List (with a
Premium Listing) and to the London Stock Exchange for the New
Shares to be admitted to trading on the Main Market. It is expected
that Admission will occur and dealing will commence in the New
Shares to be issued pursuant to the Offer at 8.00 a.m. on 22
December 2017.
It is expected that share certificates and tax certificates in
respect of the New Shares will be issued to the relevant
Shareholders on or around 10 January 2018.
The Board announced on 24 November 2017 that the final allotment
of New Shares pursuant to the Offer would take place on or around
20 December 2017 or earlier if the Offer became fully subscribed.
The Company has raised gross proceeds of approximately
GBP23,156,000 pursuant to the Offer and accordingly the directors
have determined to close the Offer as at close of business on 20
December 2017.
Total voting rights
Each Ordinary Share has one voting right. Following the fourth
allotment of New Shares pursuant to the Offer, the Company will
have 232,791,189 Ordinary Shares in issue (of which 13,738,214
Ordinary Shares are held in treasury). The total number of voting
rights in the Company will therefore be 219,052,975 and this figure
may be used by Shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the Disclosure and Transparency Rules.
Definitions
Terms defined in the Prospectus have the same meanings in this
announcement unless the context requires otherwise.
Further information
For further information please contact.
Michael Probin - VCT investor relations
Livingbridge VC LLP
020 7506 5796
Notes
This announcement does not constitute or form part of any offer
to issue or sell, or any solicitation of any offer to subscribe or
purchase, any investment in any jurisdiction, nor shall it (or the
fact of its distribution) form the basis of, or be relied on in
connection with, any contract therefor.
The issue and the distribution of this announcement and the
Prospectus in certain jurisdictions may be restricted by law and
persons into whose possession any document or other information
referred to in this announcement and the Prospectus comes should
inform themselves about and observe any such restriction. Any
failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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