Baronsmead Venture Trust PLC Issue of New Shares (0895U)
November 20 2019 - 7:31AM
UK Regulatory
TIDMBVT
RNS Number : 0895U
Baronsmead Venture Trust PLC
20 November 2019
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 Venture Trust plc
20 November 2019
Issue of New Shares pursuant to the Offer for Subscription
The Board of Baronsmead Venture Trust plc (the "Company")
announced on 4 October 2019 that it had published a prospectus in
conjunction with Baronsmead Second Venture Trust plc in relation to
an offer for subscription to each raise up to GBP20 million in
aggregate (before costs) with an over-allotment facility to each
raise up to a further GBP5 million in aggregate (the "Offer").
Under the Offer, the first allotment is to take place on 21
November 2019. Accordingly, New Shares in the Company issued under
the first allotment of the Offer will be issued at an issue price
of 76.80 pence and 13,992,088 New Shares in aggregate will be
issued pursuant to the first allotment of the Offer. The issue
price has been calculated by dividing the Company's latest
published Net Asset Value of 74.68 pence per ordinary share as at
31 October 2019 by 0.9725 in accordance with the terms of the
Offer.
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 21
November 2019.
It is expected that share certificates and tax certificates in
respect of the New Shares will be issued to the relevant
Shareholders within 10 business days of the date of the first
allotment.
Total voting rights
Each Ordinary Share has one voting right. Following the issue of
New Shares pursuant to the Offer, the Company will have 234,525,763
Ordinary Shares in issue (of which 19,436,897 Ordinary Shares are
held in treasury). The total number of voting rights in the Company
will therefore be 215,088,866 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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November 20, 2019 07:31 ET (12:31 GMT)
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