Baronsmead Second Venture Trust PLC Issue of New Shares (7499A)

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RNS Number : 7499A

Baronsmead Second Venture Trust PLC

23 January 2020

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 Second Venture Trust plc

23 January 2020

Issue of New Shares pursuant to the Offer for Subscription

The Board of Baronsmead Second Venture Trust plc (the "Company") announced on 4 October 2019 that it had published a prospectus in conjunction with Baronsmead 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"). The Company announced on 20 November 2019 that 11,596,119 New Shares would be issued at an issue price of 78.90 pursuant to the first allotment under the Offer.

In accordance with its discretion under the Prospectus, the Company further announced on 13 December 2019 that the date of the second allotment under the Offer had been amended and is to take place on 24 January 2020. Accordingly, New Shares in the Company issued under the second allotment of the Offer will be issued at an issue price of 84.80 pence and 5,978,704 New Shares in aggregate will be issued pursuant to the second allotment of the Offer. The issue price has been calculated by dividing the Company's latest published Net Asset Value of 82.40 pence per ordinary share as at 31 December 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 24 January 2020.

It is expected that share certificates in respect of the New Shares will be issued to the relevant Shareholders within 10 business days of the date of the second allotment.

Over Allotment Facility

Following the second allotment of shares under the Offer the Company has raised approximately GBP14.5 million. Following discussions with its advisers the Board has resolved to approve the use of the Company's Over Allotment Facility to raise an additional GBP5 million under the Offer.

Total voting rights

Each Ordinary Share has one voting right. Following the issue of New Shares pursuant to the Offer, the Company will have 265,595,151 Ordinary Shares in issue (of which 22,250,063 Ordinary Shares are held in treasury). The total number of voting rights in the Company will therefore be 243,345,088 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

[e-mail]

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 [e-mail] or visit www.rns.com.

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January 23, 2020 06:45 ET (11:45 GMT)