Correction: Directorate Change

The announcement released at 3:51pm on 25 November 2020 under RNS No 5261G  incorrectly stated that Gresham House acquired Livingbridge. The Company would like to clarify that the Company's management agreements were novated from Livingbridge to Gresham House on 30 November 2018.  The full updated announcement can be seen below:

Baronsmead Second Venture Trust plc

Directorate Change

The Board of Baronsmead Second Venture Trust plc (the "Company") hereby announces that Anthony Townsend has notified the Board of his intention to retire as Director of the Company. It has been agreed that Mr Townsend's retirement will take effect from the end of the Company's forthcoming Annual General Meeting.

The Board intends to appoint a new Non-Executive Director in Spring 2021 to ensure there is a desired complement of four Directors.

Mr Townsend commented "I have greatly enjoyed being part of the Baronsmead family for many years. Baronsmead VCTs becoming part of Gresham House two years ago accelerated a board refreshment plan that was already in contemplation. I was required to stand down as Chairman of the Company as I am also Chairman of Gresham House, but I was keen to see the refreshment program through. It is now substantially complete and I can depart knowing the Company is in safe hands with a very capable chairman. I shall follow its fortunes with the greatest of interest."

Ms Fromson (Chairman) commented "We would like to thank Anthony for everything he has done for the Baronsmead family of venture trusts over the years and I am particularly appreciative of his support and wise counsel since I became Chairman."

The Board would like to express their appreciation to Mr Townsend for his hugely valuable contribution to the Company and the Baronsmead family during his tenure; both as a Director and as previous Chairman of the Company. The Board wish him well in the future.

Other than as set out above, there are no items requiring disclosure under paragraph 9.6.13 of the UKLA's Listing Rules.

25 November 2020

For further information, please contact:

Baronsmead VCT Investor Relations

020 3875 9862

[email protected]

LEI 2138008D3WUMF6TW8C28