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 November 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 £24 million (the "Offer").
The Company announced on 17 November 2017 that it had raised gross proceeds of approximately £20.6 million pursuant to the Offer and accordingly had issued 21,147,519 New Shares in aggregate under the Offer because of allotments that occurred on 26 October 2017 and 17 November 2017. Since then the Company has raised additional gross proceeds of approximately £430,000. Accordingly the Company has carried out a third allotment of New Shares pursuant to the Offer, issuing 445,745 New Shares in aggregate at an issue price of 97.10 pence. The issue price of the third allotment has been calculated by dividing the Company's latest published Net Asset Value of 94.16 pence as at 31 October 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 24 November 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 27 November 2017.
The Board announced on 8 November 2017 that the Offer had been extended and will remain open until 12 noon on 29 December 2017 or until such date as the Offer is fully subscribed or closed by the Directors, being no later than 29 December 2017.
Total voting rights
Each Ordinary Share has one voting right. Following the third allotment of New Shares pursuant to the Offer, the Company will have 230,631,185 Ordinary Shares in issue (of which 12,388,214 Ordinary Shares are held in treasury). The total number of voting rights in the Company will therefore be 218,242,971 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.
