8th Feb 2019 17:09
LONDON (Alliance News) - Baronsmead Second Venture Trust PLC on Friday said its chair and three non-executive directors all bought shares as part of an offer for subscription.
All shares were purchased at 97.25 pence per share on Friday. Of these, Chair Anthony Townsend bought 23,446 for GBP22,801.
The three non-executive directors were Ian Orrock, who purchased 58,616 shares for GBP57,004; Malcolm Groat, who bought 35,169 for GBP34,202; and finally John Davies who matched the chair in buying 23,446 shares for GBP22,801.
Baronsmead Second's GBP13 million subscription was fully funded and was part of a larger effort between Baronsmead Second and Baronsmead Venture Trust PLC to raise GBP25 million. Both trusts will use the money in short to medium term investments.
Shares in Baronsmead Second closed down 1.3% at 73.50p on Friday.
Also on Friday, it was announced that Baronsmead Venture Trust directors had also bought shares as part of that company's offer for subscription, at the same 97.25p per share price.
Louise and Michael Lawrence, close associates of Chair Peter Lawrence, both bought 59,382 shares for GBP57,748 each and Non-Executive Director Les Gabb bought 23,752 shares for GBP23,098.
Shares in Baronsmead Venture Trust closed 73.70p, up 0.3%.
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