Baronsmead Venture Trust PLC - UK-focused venture capital trust managed by Gresham House PLC - Says that valid applications have been received for nearly £12 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 £30 million, with the discretion to use over-allotment facilities for further £20 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 £30 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 £10 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%
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