Baronsmead Venture Trust Unveils Major Share Subscription Offer
Exciting Share Subscription Offer from Baronsmead Venture Trust
Baronsmead Venture Trust plc, along with Baronsmead Second Venture Trust plc, is launching a remarkable share subscription initiative aimed at raising a total of £30 million, with an additional option to stretch that figure by another £20 million. This sparkling announcement is sure to generate buzz among investors eager for opportunities.
Details of the Share Subscription Offer
The subscription offer will officially open at 9:00 a.m., providing both existing and new shareholders an early opportunity to invest. Baronsmead Venture Trust aims to promote investor participation through enticing incentives, offering a 0.75% discount for current shareholders and a 0.5% discount for new investors. It's an all-hands-on-deck scenario, set within a cap that allows individual companies to gather up to £7.5 million.
Compliance and Important Deadlines
For investors keen to capitalize on the 2024/25 tax year, there's no time to waste: applications need to be submitted by 9:00 a.m. on March 31, 2025. If this deadline approaches without full subscription, there is still some flexibility; the directors may choose to extend the offer into the 2025/26 tax year. Interestingly, the processing of such applications will be on a 'first-come, first-served' basis, ensuring a fair and transparent opportunity for all aspiring investors.
Role of Gresham House Asset Management
The investment manager appointed to guide this initiative, Gresham House Asset Management Limited, is set to receive a fee of 4.5% based on the total accepted applications. This fee structure takes into account various components like intermediary subscriptions and direct applications, ensuring that all aspects of the investment process are managed efficiently.
Covering All Costs and Expenses
Gresham House’s compensation plan is structured to envelop all costs associated with the share offer, including the creation of the prospectus. Given their collaborative relationship with Baronsmead Venture Trust, this arrangement is officially categorized as a relevant related party transaction according to the UK Listing Rules.
Accessing the Prospectus
For those interested in exploring this share offer further, the prospectus is available at the National Storage Mechanism and on the company’s official website. This share subscription embodies a promising chance for investors to partake in the expanding horizon of Baronsmead Venture Trust, with the added lure of discounted participation fees for those who act swiftly.
Frequently Asked Questions
What is the aim of the new share subscription offer?
The goal is to raise up to £30 million, with an option to extend by an additional £20 million, enhancing investment opportunities.
Who is eligible for the subscription discounts?
Current shareholders can enjoy a 0.75% discount, while new investors receive a 0.5% discount, both applied to offer costs.
What happens if the offer is not fully subscribed?
If subscriptions are insufficient by the deadline, the directors may opt to extend the offer into the new tax year.
What are the consulting fees associated with this offer?
The investment manager, Gresham House Asset Management, will charge a fee of 4.5% of the total accepted application amounts to cover costs.
Where can I find more information about the offer?
Interested individuals can access the prospectus via the National Storage Mechanism or Baronsmead Venture Trust’s official website.
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