Baronsmead Venture Trust PLC Issue of New Shares (2269W)
November 10 2017 - 11:15AM
UK Regulatory
TIDMBVT
RNS Number : 2269W
Baronsmead Venture Trust PLC
10 November 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 VENTURE TRUST PLC
10 November 2017
Issue of New Shares pursuant to the Offer for Subscription
On 4 October 2017, Baronsmead Venture Trust plc (the "Company")
published a prospectus (the "Prospectus") in relation to an offer
for subscription to raise up to GBP21 million (the "Offer"). As
announced by the Company on 6 November 2017 the Offer became fully
subscribed during the course of 3 November 2017. Accordingly, the
Board of the Company has resolved to bring the date of the second
allotment forward from 15 November 2017 to today.
New Shares issued under the second allotment pursuant to the
Offer will be issued at an issue price of 94.50 pence and 2,932,226
New Shares in aggregate will be issued. The issue price has been
calculated by dividing the Company's latest published Net Asset
Value of 91.58 pence as at 31 October 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 14
November 2017.
In accordance with the terms of the Offer investors whose
Subscription Forms are received after the 3 November 2017 will have
their Subscription automatically allocated to the Baronsmead Second
Venture Trust plc offer for subscription, which remains open,
unless the investor has specifically stipulated on the Subscription
Form that they do not want this to happen.
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 17 November 2017.
Total voting rights
Each Ordinary Share has one voting right. Following the second
allotment of New Shares pursuant to the Offer, the Company will
have 206,285,223 Ordinary Shares in issue (of which 11,103,819
Ordinary Shares are held in treasury). The total number of voting
rights in the Company will therefore be 195,181,404 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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