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 SECOND VENTURE TRUST PLC
LEI: 2138008D3WUMF6TW8C28
20 February 2025
Allotment of Shares and Total Voting Rights
The Board of Baronsmead Second
Venture Trust plc (the "Company") announced on 10 January 2025
that the Company, together with Baronsmead 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").
On 20 February 2025 and in
accordance with the Allotment Formula set out in the Prospectus,
the Company allotted 12,028,256 Ordinary Shares of 10 pence each
(the "New Ordinary Shares")
in the capital of the Company pursuant to the first allotment under
the Offer conditional only on Admission (the timetable for which is
set out in more detail below). The New Ordinary Shares were issued
at prices of between 54.98 pence per New Ordinary Share and 57.78
pence per New Ordinary Share, depending on the amount of Offer
Costs, any Initial Commission waived, any Initial Adviser Charges,
any Early Subscription Incentive associated with an Application and
based on the net asset value per Ordinary Share as at 31 January
2025 (as announced on 12 February 2025, being the last published
net asset value per Ordinary Share). The average issue price was
55.66 pence per share.
Application will shortly be made for
the New Ordinary Shares to be admitted to the Official List of the
Financial Conduct Authority and to trading on the London Stock
Exchange plc's main market for listed securities ("Admission"). It
is expected that Admission will occur and dealing will commence in
the New Ordinary Shares on or around 26 February 2025. When
issued, the New Ordinary Shares will rank pari passu with the
existing Ordinary Shares.
As a result of the issue, the total
number of Ordinary Shares in issue will be 449,444,078 (including
the 45,745,594 Ordinary Shares currently held in Treasury) with
each Ordinary Share carrying one vote each. Therefore, the
total voting rights in the Company will be 403,698,484. This figure
may be used by shareholders in the Company 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
share capital of the Company under the Disclosure Guidance and
Transparency Rules.
The New Ordinary Shares will be
issued in registered form and may be held in uncertificated
form. Definitive documents of title are expected to be
dispatched within 10 business days of allotment.
The New Ordinary Shares will be eligible for
settlement through CREST with effect from Admission.
Unless the context requires
otherwise, terms defined in the Prospectus have the same meaning
where used in this announcement.
For further information please
contact:
Baronsmead VCT Investor
Relations
020 7382 0999
baronsmeadvcts@greshamhouse.com
Notes
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 10
January 2025 by Baronsmead Venture Trust plc and Baronsmead Second
Venture Trust plc, in connection with the Offer. A copy of the
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 by the FCA should not be understood as
an endorsement of the securities that are the subject of the
Prospectus. Potential investors are recommended to read the
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.
