Baronsmead Second Venture Trust PLC Update on the Offer of Subscription (3282F)
March 06 2020 - 8:56AM
UK Regulatory
TIDMBMD
RNS Number : 3282F
Baronsmead Second Venture Trust PLC
06 March 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION FOR 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 THE
REPUBLIC OF SOUTH AFRICA.
Baronsmead Second Venture Trust plc
6 March 2020
Update on the Offer for Subscription
The Board of Baronsmead Second Venture Trust plc (the "Company")
announced on 4 October 2019 that it had published a Prospectus in
conjunction with Baronsmead Venture Trust plc in relation to an
offer for subscription to each raise up to GBP20 million (before
costs) with an over-allotment facility to each raise up to a
further GBP5 million (the "Offer").
On 27 February 2020 the Company carried out a third allotment of
shares under the Offer, issuing 2,318,288 new ordinary shares of 10
pence each in the Company ("New Shares"). Subsequently, at the
annual general meeting of the Company held on 27 February 2020,
shareholders approved the payment of a final dividend of 3.5 pence
per share (the "Final Dividend"). However, the net asset value as
at 31 January 2020 did not take account of the Final Dividend and
accordingly the net asset value used to calculate the issue price
which the New Shares were issued at was overstated by the amount of
the Final Dividend.
On the basis of the adjusted net asset value the Company has
issued an additional 101,155 New Shares resulting in 2,419,443 New
Shares being issued in the third allotment under the Offer at an
issue price of 82.50 pence.
Applications have been made for the additional 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
additional New Shares to be issued pursuant to the Offer at 8.00
a.m. on 11 March 2020.
Share certificates and tax certificates in respect of the
original issue of New Shares have not yet been issued. It is
expected that share certificates and tax certificates showing the
aggregate number of New Shares issued will be sent to the relevant
Shareholders within 10 business days of the date of the allotment
of the additional New Shares.
Total voting rights
Each Ordinary Share has one voting right. Following the issue of
additional New Shares pursuant to the Offer, the Company will have
268,014,594 Ordinary Shares in issue (of which 22,750,063 Ordinary
Shares are held in treasury). The total number of voting rights in
the Company will therefore be 245,264,531 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.
Further information
For further information please contact.
Baronsmead VCT Investor Relations
020 3875 9862
baronsmeadvcts@greshamhouse.com
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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