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.
Baronsmead Second Venture Trust plc
LEI: 2138008D3WUMF6TW8C28
21 February 2025
Offer Update - Closure of Early
Subscription Incentive
The Board of
Baronsmead Second Venture Trust plc (the "Company") announced
on 10 January 2025 that the Company, together with Baronsmead Venture Trust plc
("BVT"), had published a prospectus in relation to offers for
subscription to raise up to £30 million in aggregate with an
over-allotment facility to raise up to a further £20 million in
aggregate (the "Offers").
Under the Offers the Company's
investment manager, Gresham House Asset Management Limited, offered
investors an early subscription incentive discount on offer costs
as set out on page 9 of the prospectus. This discount was offered
to investors that subscribed subject to a maximum aggregate
subscription amount under the 'early subscription incentive'
Application Amount qualifying for this discount of £7.5 million per
company, on the following basis:
· existing shareholders receive a discount of 0.75 per cent. of
their Offer Costs; and
· new
investors receive a discount of 0.5 per cent. of their Offer
Costs.
The Company has now received valid
Application Forms in relation to aggregate Application Amounts that
exceed £7.5 million under its Offer. Therefore, the discounts set
out under the Early Subscription Incentive will not apply to any
further Applications received in relation to the Company's Offer.
For fundraising enquiries please
contact Gresham House on 020 3875 9851 or email:
wholesaledistribution@greshamhouse.com.
For VCT administration enquiries,
please contact:
Baronsmead VCT Investor
Relations
Telephone: +44 (0)20 7382
0999
baronsmeadvcts@greshamhouse.com
Notes
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 10
January 2025 by Baronsmead Venture Trust plc and Baronsmead Second
Venture Trust plc, in connection with the Offer. A copy of the
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 by the FCA should not be understood as
an endorsement of the securities that are the subject of the
Prospectus. Potential investors are recommended to read the
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.
