Baronsmead Venture Trust PLC Update on Fundraising (7498R)
September 25 2017 - 10:30AM
UK Regulatory
TIDMBVT
RNS Number : 7498R
Baronsmead Venture Trust PLC
25 September 2017
25 September 2017
BARONSMEAD VENTURE TRUST PLC
Update on Proposed Fundraising
On 2 August 2017 the Company and Baronsmead Second Venture Trust
plc ("BSVT") announced that they intended to launch offers for
subscription in October 2017. Accordingly the Boards of the Company
and BSVT have resolved to launch offers for subscription to raise
up to GBP45 million in aggregate (the "Offers").
The Boards will also be able to utilise over allotment
facilities to raise up to a further GBP15 million in aggregate if
sufficient demand arises prior to the close of the Offers and if
the relevant Directors resolve that it is in the best interests of
their shareholders to utilise their respective over allotment
facilities.
It is currently anticipated that each Offer will initially be
open exclusively to satisfy subscriptions from the relevant
Company's existing shareholders for approximately 10 calendar days.
Following this initial exclusivity period the Offers will be open
to all investors.
Further details of the Offers will be set out in a prospectus
which is currently expected to be published during the week
commencing 2 October 2017.
For further information please contact:
Michael Probin
VCT Investor Relations Director
Telephone: 020 7506 5796
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations ((EU) No. 596/2014). Upon the
publication of this announcement via Regulatory Information Service
this inside information is now considered to be in the public
domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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