NOT
FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY MEMBER STATE OF
THE EEA (OTHER THAN ANY MEMBER STATE OF THE EEA WHERE THE COMPANY'S
SECURITIES MAY BE LEGALLY MARKETED), OR ANY OTHER JURISDICTION
WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THE
INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF
ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO
SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY
JURISDICTION.THIS ANNOUNCEMENT IS AN
ADVERTISEMENT AND NOT A PROSPECTUS.
Baronsmead SECOND Venture Trust
plc
LEI: 2138008D3WUMF6TW8C28
14 March 2024
Announcement of Intention to Utilise
Over-allotment Facility and Offer Update
The Board of Baronsmead Second
Venture Trust plc (the "Company") announced on 24 November
2023 that the Company, together with Baronsmead Venture Trust plc,
had published a prospectus (the "Prospectus") in relation to offers for
subscription to raise up to £30 million in aggregate with the
discretion to utilise Over-allotment Facilities to raise up to a
further £20 million in aggregate (the "Offers" and each an "Offer"). Full details of the Offer are
contained in the Prospectus as supplemented by the supplementary
prospectus dated 19 January 2024.
The Board is pleased to announce
that, as of close of business on 13 March 2024, valid
applications have been received for £12.25 million under the
Company's Offer and therefore the initial amount is likely to be
fully subscribed for shortly. On the basis of the deal pipeline,
the Board has resolved that it is in the best interests of
Shareholders to utilise the Over-allotment Facility and
subscriptions will be accepted to raise up to an additional £10
million, subject to the terms of the Offer.
The first allotment of shares in
respect of valid applications accepted by the Company took place on
26 January and the second allotment on
15 February 2024. The third allotment date is scheduled for
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 and the Board decides to extend the period of the
Offer.
All capitalised terms used and not
defined herein shall have the same meaning as in the
Prospectus.
For further information please
contact:
Baronsmead VCT Investor
Relations
020 7382 0999
baronsmeadvcts@greshamhouse.com
Important Information
This Announcement is an
advertisement for the purposes of the Prospectus Regulation Rules
of the UK Financial Conduct Authority ("FCA") and is not a
prospectus. This Announcement does not constitute or form part of,
and should not be construed as, an offer for sale or subscription
of, or solicitation of any offer to subscribe for or to acquire,
any ordinary shares in Baronsmead Venture Trust plc or Baronsmead
Second Venture Trust plc (together the "Companies") in any
jurisdiction, including in or into Australia, Canada, Japan, the
Republic of South Africa, the United States or any member state of
the EEA (other than any member state of the EEA where the
Companies' securities may be lawfully marketed). Investors should
not subscribe for or purchase any ordinary shares referred to in
this Announcement except on the basis of information in the
prospectus (the "Prospectus") in its final form, published on 24
November 2023 by Baronsmead Venture Trust plc and Baronsmead Second
Venture Trust plc, together with the supplementary prospectus
published on 19 January 2024 (the "Supplementary Prospectus"), in
connection with the Offer. A copy of the Prospectus and
Supplementary Prospectus is available for inspection, subject
to certain access restrictions, from the Company's registered
office, for viewing at the National Storage Mechanism
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and
on the Company's website (http://www.baronsmeadvcts.co.uk).
Approval of the Prospectus and Supplementary Prospectus by the FCA
should not be understood as an endorsement of the securities that
are the subject of the Prospectus and Supplementary Prospectus.
Potential investors are recommended to read the Prospectus and
Supplementary Prospectus before making an investment decision in
order to fully understand the potential risks and rewards
associated with a decision to invest in the Companies'
securities.