Baronsmead VCTs - Offers for Investment
Baronsmead Venture Trust plc and Baronsmead Second Venture Trust plc (BVT, BSVT or collectively the Companies or the Baronsmead VCTs) have published a prospectus in relation to offers for subscription to raise up to £40 million in aggregate (before costs) with an over-allotment facility to raise up to a further £35 million in aggregate (the Offers).
VCT funds raised as at 15 January 2021
The Directors have approved the use of an additional £20m of the Over Allotment Facility (£10m per Company).
The Boards will monitor the volume of subscriptions received from shareholders in relation to the Over Allotment Facility and the levels of investment activity and may release the remaining £7.5 million of new shares available under the Over Allotment Facility in due course.
Baronsmead Venture Trust plc
Baronsmead Second Venture Trust plc
How to invest?
Investors can subscribe for new shares by:
Each Company is a Venture Capital Trust (VCT). The venture capital investing regime was established by the UK Government with the intention of encouraging individuals to invest indirectly in a range of small higher-risk trading companies whose shares and securities are not listed on a recognised stock exchange. VCTs open for investment are high risk and for the long term. Your capital is at risk.
This document is for information only and is being provided by Gresham House Asset Management Ltd 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. Livingbridge 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.