LONDON - Baronsmead Venture Trust plc, along with Baronsmead Second Venture Trust plc, has published a prospectus detailing the new offers for subscription aimed to raise up to £30 million, with an option to extend up to £20 million more, as announced on Friday. The offer is scheduled to open on Monday, January 13, 2025, at 9:00 a.m.
In a strategic move to attract investors, an early subscription incentive is in place, offering a discount on offer costs by 0.75% for existing shareholders and 0.5% for new investors, subject to a maximum aggregate application amount of £7.5 million per company. This incentive is designed to encourage early participation in the offer.
To be considered for the 2024/25 tax year, applications must be fully completed and received by 9:00 a.m. on March 31, 2025. If the offer is not fully subscribed by this deadline, the directors may keep the offer open into the 2025/26 tax year. Applications will be processed on a 'first-come, first-served' basis, with priority given based on the receipt of fully completed applications and the subsequent clearance of funds within three business days.
The investment manager, Gresham House Asset Management Limited, has agreed to a fee structure with Baronsmead Venture Trust, which includes a fee of 4.5% of the aggregate accepted application amounts, adjusted for various factors such as intermediary subscriptions and direct applications.
The fee paid to Gresham House Asset Management will cover all costs and expenses related to the offer and the preparation of the prospectus. The investment manager is considered a related party to Baronsmead Venture Trust, making this transaction a relevant related party transaction under UK Listing Rule 11.5.4(1).
Interested parties can access the prospectus through the National Storage Mechanism or the company's website. This offer represents an opportunity for investors to participate in the growth of Baronsmead Venture Trust, with the added incentive of reduced offer costs for early subscribers. The information in this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.