Baronsmead Venture Trust PLC Issue of New Shares (2736I)

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RNS Number : 2736I

Baronsmead Venture Trust PLC

31 March 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 Venture Trust plc

31 March 2020

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 (before costs) with an over-allotment facility to each raise up to a further GBP5 million (the "Offer"). The Company announced on 18 March 2020 that GBP25 million (before costs) had been raised and accordingly the Offer was fully subscribed.

The fourth and final allotment took place earlier today. New Shares in the Company issued under the fourth allotment of the Offer were issued at an issue price of 63.80 pence and 3,547,767 New Shares in aggregate were issued. The issue price has been calculated by dividing the Company's latest published Net Asset Value of 61.99 pence per ordinary share as at 23 March 2020 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 1 April 2020.

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 third allotment.

The Offer is now closed, in accordance with the terms of the Offer investors whose Subscription Forms and/or Electronic Subscription Forms were received after the Offer became fully subscribed will have their subscription monies returned in accordance with the terms and conditions of 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 252,685,805 Ordinary Shares in issue (of which 21,017,988 Ordinary Shares are held in treasury). The total number of voting rights in the Company will therefore be 231,667,817 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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March 31, 2020 10:08 ET (14:08 GMT)