2nd Feb 2024 12:54
Baronsmead Venture Trust PLC - UK-focused venture capital trust managed by Gresham House PLC - Says that valid applications have been received for nearly GBP12 million under the company's November subscription offer. In November, together with Baronsmead Second Venture Trust PLC, the company published a prospectus for a subscription to raise up to GBP30 million, with the discretion to use over-allotment facilities for further GBP20 million. First allotment of shares took place on January 26, with the next scheduled allotment dates on February 15 and March 28. A fourth allotment will follow if the offer is not fully subscribed by April 3.
Following the recent applications, Baronsmead believes that the initial GBP30 million amount will be fully subscribed for shortly. Baronsmead has also resolved to utilise the over-allotment facility, and will be accepting subscriptions to raise up to an additional GBP10 million, subject to the terms of the November prospectus.
Current stock price: untraded in London on Friday, last traded at 54.50 pence.
12-month change: down 4.5%
By Hugh Cameron, Alliance News reporter
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