RNS Number : 5741H
Baronsmead Second Venture Trust PLC
20 March 2024
 

Baronsmead SECOND Venture Trust plc

(the "Company")

 

LEI: 2138008D3WUMF6TW8C28

 

20 March 2024

 

CHANGE OF ALLOTMENT DATE AND EXTENSION OF THE OFFER

 

On 24 November 2023 Baronsmead Venture Trust plc and Baronsmead Second Venture Trust 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").

The board of Baronsmead Second Venture Trust plc (the "Board") wish to advise that it has decided to delay the proposed date of the third allotment of shares in the Company from 28 March 2024, as set out in the Prospectus. The reason for the delay is to ensure that investors have the maximum amount of time to apply for subscriptions under the Offer and still be allotted in the current 2023/24 tax year.  It is expected that the NAV announced for 29 February 2024, published on 6 March 2024, will be utilised for the allotment, subject to any material movements prior to the allotment date.

 

The anticipated revised date of the third allotment in respect of the Company will be Wednesday, 3 April 2024. 

 

In order to be allotted shares in the revised third allotment, applications via cheque will need to be received by 12 noon on 25 March 2024 and applications via bank transfer by 9.00 am on 2 April 2024. 

 

As stated in the Prospectus, the Offer will close on 3 April 2024 in relation to the 2023/24 tax year, unless the Board decides to extend the Offer or the Offer is fully subscribed or otherwise closed before this time. The Board has agreed to extend the Offer in relation to the Company into the 2024/25 tax year until fully subscribed or otherwise closed. The fourth and final allotment is expected to take place on or around 2 May 2024. 

 

For further information please contact:

 

Baronsmead VCT Investor Relations

Telephone: +44 (0)20 7382 0999

baronsmeadvcts@greshamhouse.com 

 

 

 

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