Baronsmead Venture Trust PLC Issue of New Shares (5657Q)

TIDMBVT

RNS Number : 5657Q

Baronsmead Venture Trust PLC

26 February 2021

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

LEI: 213800VQ1PQHOJXDDQ88

26 February 2021

Issue of New Shares pursuant to the Offer for Subscription

The Board of Baronsmead Venture Trust plc (the "Company") announced on 17 September 2020 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 GBP17.5 million (the "Offer").

The Company has today allotted a further 5,751,377 New Shares at an issue price of 78.80 pence pursuant to the fourth allotment under the Offer. The issue price has been calculated by reference to the Company's latest published net asset value of 78.71 pence per existing share as at 31 January 2021 adjusted to take account of the 3.5 pence per existing share which went ex-dividend on 4 February 2021, divided by 0.955 rounded up to the nearest 0.1 pence in accordance with the pricing formula set out under the terms of the Offer.

Applications have been made for the New Shares 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 4 March 2021.

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 allotment.

As announced on 22 February 2021, the Offer is now closed. The Company intends to carry out on final allotment of New Shares on or around 18 March 2021.

Total voting rights

Each Ordinary Share has one voting right. Following the issue of New Shares pursuant to the Offer, the Company will have 292,529,832 Ordinary Shares in issue (of which 23,015,165 Ordinary Shares are held in treasury). The total number of voting rights in the Company will therefore be 269,514,667 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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IOEPPUPPPUPGGAQ

(END) Dow Jones Newswires

February 26, 2021 10:24 ET (15:24 GMT)