Baronsmead Second Venture Trust PLC Issue of New Shares (9690W)
20 November 2017 - 10:00PM
UK Regulatory
TIDMBMD
RNS Number : 9690W
Baronsmead Second Venture Trust PLC
20 November 2017
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
20 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 GBP24 million (the
"Offer"). As announced by the Company on 8 November 2017, the Board
of the Company resolved to move the date of the second allotment
from 15 November 2017 to 17 November 2017.
The Company announced on 26 October 2017 that it had raised
gross proceeds of approximately GBP13.5 million pursuant to the
Offer and accordingly had issued 13,797,365 New Shares under the
Offer. Since then the Company has raised additional gross proceeds
of approximately GBP7.1 million. Accordingly the Company has
carried out a second allotment of New Shares pursuant to the Offer,
issuing 7,350,154 New Shares in aggregate at an issue price of
97.10 pence. The issue price of the second 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 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 21 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. Following the
second allotment the Company has raised gross proceeds of
approximately GBP20.6 million pursuant to the Offer and there
remains approximately GBP3.4 million of New Shares available for
allotment.
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.
Total voting rights
Each Ordinary Share has one voting right. Following the second
allotment of New Shares pursuant to the Offer, the Company will
have 230,185,440 Ordinary Shares in issue (of which 11,693,214
Ordinary Shares are held in treasury). The total number of voting
rights in the Company will therefore be 218,492,226 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAEFEASFXFFF
(END) Dow Jones Newswires
November 20, 2017 06:00 ET (11:00 GMT)
Baronsmead Second Venture (LSE:BMD)
Historical Stock Chart
From Apr 2024 to May 2024
Baronsmead Second Venture (LSE:BMD)
Historical Stock Chart
From May 2023 to May 2024