Baronsmead Second Venture Trust PLC Issue of New Shares (0645A)

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RNS Number : 0645A

Baronsmead Second Venture Trust PLC

21 December 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 SECOND VENTURE TRUST PLC

21 December 2017

Issue of New Shares pursuant to the Offer for Subscription

On 4 October 2017, Baronsmead Second Venture Trust plc (the "Company") published a prospectus (the "Prospectus") in relation to an offer for subscription to raise up to GBP24 million (the "Offer").

The Company announced on 21 November 2017 that it had raised gross proceeds of approximately GBP21 million pursuant to the Offer and accordingly had issued 21,593,264 New Shares in aggregate under the Offer because of allotments that occurred on 26 October 2017, 17 November 2017 and 21 November 2017. Since then the Company has raised additional gross proceeds of approximately GBP2,119,000. Accordingly the Company has carried out a fourth allotment of New Shares pursuant to the Offer, issuing 2,160,004 New Shares in aggregate at an issue price of 98.10 pence. The issue price of the fourth allotment has been calculated by dividing the Company's latest published Net Asset Value of 95.07 pence as at 30 November 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 22 December 2017.

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 10 January 2018.

The Board announced on 24 November 2017 that the final allotment of New Shares pursuant to the Offer would take place on or around 20 December 2017 or earlier if the Offer became fully subscribed. The Company has raised gross proceeds of approximately GBP23,156,000 pursuant to the Offer and accordingly the directors have determined to close the Offer as at close of business on 20 December 2017.

Total voting rights

Each Ordinary Share has one voting right. Following the fourth allotment of New Shares pursuant to the Offer, the Company will have 232,791,189 Ordinary Shares in issue (of which 13,738,214 Ordinary Shares are held in treasury). The total number of voting rights in the Company will therefore be 219,052,975 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

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December 21, 2017 05:16 ET (10:16 GMT)