Baronsmead Second Venture Trust PLC Publication of a Prospectus (2232Z)
September 17 2020 - 3:00AM
UK Regulatory
TIDMBMD
RNS Number : 2232Z
Baronsmead Second Venture Trust PLC
17 September 2020
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 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
17 September 2020
Publication of a Prospectus and Offer for Subscription
Baronsmead Venture Trust plc and Baronsmead Second Venture Trust
plc have published a prospectus in relation to offers for
subscription to raise up to GBP40 million in aggregate with an
over-allotment facility to raise up to a further GBP35 million in
aggregate (the "Offers").
The Offers are now open and are expected to close no later than
24 March 2021 (unless fully subscribed by an earlier date). All
subscriptions will be processed on a "first come, first served"
basis. Investors can subscribe for new shares online by logging on
to https://www.baronsmeadvctoffer.co.uk and completing an
electronic subscription form or by completing a paper subscription
form which can be found at the back of the prospectus or downloaded
from the Baronsmead website at http://www.baronsmeadvcts.co.uk.
Subscriptions made on or before 30 October 2020 will be entitled
to an earlybird rebate on the following basis:
-- existing shareholders will receive a rebate of 0.75 per cent.
of their subscription: and
-- new investors will receive a rebate of 0.5 per cent. of their
subscription.
The rebate will be paid to investors in the form of additional
new shares issued at the relevant Offer price. The rebate will be
limited to subscriptions which represent the first GBP7.5 million
received by each of the companies under the Offers.
As part of the Offer the Company will enter into an offer
agreement, under which the Company will pay the Company's
Investment Manager, Gresham House Asset Management Limited, in
consideration for administering the Offer, a fee of 4.5 per cent of
the gross proceeds of the Offer.
Out of this fee the Investment Manager shall pay all the costs
and expenses of and incidental to the Offer and the preparation of
the prospectus. The Investment Manager is a related party. As such,
this transaction is a smaller related party transaction as defined
in LR11.1.10R.
The prospectus will shortly be available for inspection at the
National Storage Mechanism which is located at
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
The prospectus, together with the paper subscription form, is
also available on the Baronsmead website at
http://www.baronsmeadvcts.co.uk and on request by emailing
baronsmeadvcts@greshamhouse.com.
For IFA enquiries please contact RAM Capital Partners LLP on 020
3006 7530 or email taxsolutions@ramcapital.co.uk for document
requests.
For further information please contact:
Baronsmead VCT Investor Relations
020 3875 9862 baronsmeadvcts@greshamhouse.com
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END
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