Gresham House
Specialist asset management
December 2023
December 2023
Baronsmead Venture Trust plc and Baronsmead Second Venture Trust plc published a prospectus in relation to offers for subscription to raise up to £30 million in aggregate (before costs) with an over-allotment facility to raise up to a further £20 million in aggregate.
Please note: for those applications that are unsuccessful due to the VCTs reaching capacity, we will endeavour to return funds prior to the end of the 23/24 tax year however, this is not guaranteed. For more information, please reach out to Rees Whiteley.
Key documents
The Baronsmead Venture Trust plc and the Baronsmead Second Venture Trust plc 2023/2024 offers are now fully subscribed and closed to new applications.
A prospectus was published in relation to the offers for subscription to raise up to £30mn in aggregate (before costs) with an over-allotment facility to raise up to a further £20mn in aggregate for the Tax Year 2023/2024. The minimum investment per Company is £5,000. You can choose to invest in either or both VCTs. A supplementary prospectus was published on 19 January 2024 following the Annual Report and Financial Statements of the Companies being issued in December.
Offers fully subscribed and closed to new applications.
Funds raised as at 01 April 2024:
Baronsmead Second Venture Trust plc (Fully subscribed and closed to new applications)
£0
Total funds raised£0
Target raise%
Baronsmead Venture Trust plc (Fully subscribed and closed to new applications)
£0
Total funds raised£0
Target raise%
Each Company is a Venture Capital Trust (VCT). The venture capital trust investing regime was established by the UK Government with the intention of encouraging individuals to invest indirectly in a range of small, illiquid higher-risk trading companies whose shares and securities are not listed on a recognised stock exchange. An investment in a VCT is high risk and for the long term. Your capital is at risk so you could get back less than you invest.
How to get in touch:
For queries relating to the Companies, please contact baronsmeadvcts@greshamhouse.com
For queries relating to the Investment Manager or Investment Management activities please contact info@greshamhouse.com
For queries relating to applications and share certificates please contact registrars@city.uk.com
| For Baronsmead VCT fundraising enquiries please contact: | For Baronsmead VCT administration enquiries please contact: | |||
| Rees Whiteley r.whiteley@greshamhouse.com T: 020 3875 2851 M: 07597 579 438 | Gresham House baronsmeadvcts@greshamhouse.com T: 01451 843 911 |
| Registrar | Investment Manager | |
| The City Partnership (UK) Limited The Mending Rooms Park Valley Mills Meltham Road Huddersfield HD4 7BH 01484 240 910 https://gresham-house-vcts.cityhub.uk.com registrars@city.uk.com | Gresham House baronsmeadvcts@greshamhouse.com 020 3875 9862 | |
| Receiving agent | ||
| The City Partnership (UK) Limited The Mending Rooms Park Valley Mills Meltham Road Huddersfield HD4 7BH 01484 240 910 (9am-5.30pm Mon-Fri excl. English public holidays) |
This document is for information only and is being provided by Gresham House Asset Management Ltd (FRN: 682776) to a limited number of persons of the kind described below in relation to the Company.
This document has not been approved by a person authorised under the Financial Services and Markets Act 2000 (“FSMA”). Accordingly, this document is directed solely at persons who have professional experience in matters relating to investments being persons who fall within Article 19(5) of the FSMA (Financial Promotion) Order 2005 (as amended). This document is being supplied to you in your capacity as an expert (in order to assist you to formulate your advice to your clients). It is not intended that this document be distributed or passed on, directly or indirectly, to any other class of person and in any event and under no circumstances should persons of any other description rely on or act upon its contents. It must not be reproduced by, further distributed or published (in whole or part) by you or any other person. In particular this document has not been designed for retail investors. Gresham House does not take responsibility for your compliance with the rules of the Financial Conduct Authority concerning communications to retail clients. If you wish to communicate any information about the Company to a retail investor, you are responsible for ensuring such information is suitable for consumption by them.
This document is an advertisement, not a prospectus or listing particulars, does not contain any representation or warranty as to its accuracy or completeness and does not constitute an offer or invitation to subscribe, underwrite or purchase any securities, or the solicitation of any offer or invitation to subscribe, underwrite or purchase any securities, nor shall it or any part of it form the basis of or be relied upon in connection with any offer to subscribe, underwrite or purchase any securities nor in connection with any contract therefor. Investors should not subscribe for any shares in the Company under the Offer except on the basis of the information contained in the Prospectus.
Tax related and legislative risks
The current VCT tax reliefs may change during the time the shares are held and can be retrospective. The value of the tax reliefs depends on the personal circumstances of the investors, who should consult their own tax advisers before making an investment. There can be no guarantee that the Company will retain full VCT status which could lead to adverse tax consequences for investors, including a requirement to pay the 30% income tax relief.
Gresham House does not give investment advice. If you are in any doubt about whether investment in the Offers is suitable for you and wish to obtain advice, please contact an authorised financial adviser.
