The following amendment has been made to the "Change of allotment date" announcement released on 4 January 2024 at 15:45 under RNS Number 7050Y.
The opening paragraph of the "Change of allotment date" announcement has been replaced in its entirety with the following wording in order to correct some minor discrepancies in the description of the Offer.
On 25 November 2023 Baronsmead Venture Trust plc (the "Company") published a prospectus (the "Prospectus") in relation to offers for subscription to raise up to £15 million with the discretion to utilise an over-allotment facility to raise up to a further £10 million (the "Offer"). Approximately £6 million has been subscribed to the Company's Offer to date.
All other details remain unchanged.
The full amended text is shown below.
Baronsmead Venture Trust plc
CHANGE OF ALLOTMENT DATE
On 25 November 2023 Baronsmead Venture Trust plc (the "Company") published a prospectus (the "Prospectus") in relation to offers for subscription to raise up to £15 million with the discretion to utilise an over-allotment facility to raise up to a further £10 million (the "Offer"). Approximately £6 million as been subscribed to the Company's Offer to date.
In order to protect the interests of both existing shareholders and subscribers to the Company's offer, the Board has decided to change the date of the first allotment of shares which was due to be on 11 January 2024. As set out in the Prospectus, the allotment price will be based upon the most recently published net assest value ("NAV"). As the most recently published NAV was the unaudited NAV as at 30 November 2023, the Board and the Investment Manager are working to establish a more up to date NAV to reflect any material market movements that may have taken place since then. An announcement will be released to the London Stock Exchange prior to the revised date of the first allotment, which is anticipated to be Friday, 26 January 2024.
In order to be allotted shares in the revised first allotment, applications via cheque will need to be received by 19 January 2024 and applications via bank transfer by 23 January 2024. As a result of this change to the allotment date, the deadline for the early bird offer as set out on page 45 of the Prospectus, will now also be extended to 23 January 2024, subject to cleared funds being received by the Receiving Agent and to a maximum of £7.5 million.
The next scheduled allotment dates are 15 February 2024 and 28 March 2024. As stated in the Prospectus, the fourth allotment will only take place if the Offer is not fully subscribed by 3 April 2024. As set out in the Prospectus, the Board reserves the right to revise these dates, undertake additional allotments, close its Offer and/or extend its Offer.
For further information please contact:
Baronsmead VCT Investor Relations
Telephone: +44 (0)20 7382 0999
baronsmeadvcts@greshamhouse.com
LEI: 213800VQ1PQHOJXDDQ88
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.