Baronsmead Venture Trust PLC Change of allotment date - correction (8217Y)
05 January 2024 - 10:36PM
UK Regulatory
TIDMBVT
RNS Number : 8217Y
Baronsmead Venture Trust PLC
05 January 2024
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 GBP15 million with the discretion to
utilise an over-allotment facility to raise up to a further GBP10
million (the "Offer"). Approximately GBP6 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 GBP15 million with the discretion to
utilise an over-allotment facility to raise up to a further GBP10
million (the "Offer"). Approximately GBP6 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 GBP7.5
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
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END
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