LONDON - Baronsmead Second Venture Trust PLC and Baronsmead Venture Trust PLC have initiated offers for subscription to raise up to £30 million with the option to extend an additional £20 million. The offer, detailed in a prospectus published today, aims to attract investments for the 2024/25 tax year, with a closing date for applications set for March 31, 2025.
The offer is structured to give priority to applications on a 'first-come, first-served' basis, with the provision that funds must clear within three business days to maintain priority status. The companies have specified that payment must be made via bank transfer, and cheques will not be accepted.
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, up to a combined maximum of £7.5 million per company. This discount is managed by Gresham House Asset Management Limited, the investment manager, which will also handle the administration of the offer for a fee.
This fee structure includes deductions for applications made through financial intermediaries or directly by investors, as well as for cases where initial commission is waived. Gresham House Asset Management Limited, a related party to BSVT, will cover all costs and expenses related to the offer and the preparation of the prospectus from the fee collected.
The prospectus is available for public inspection at the National Storage Mechanism and can also be accessed on the company's website or requested via email. This fundraising initiative is based on a press release statement and offers an opportunity for investors to participate in the financial year's tax incentives.
Investors interested in the offer are encouraged to review the prospectus for detailed information and to consider the early subscription incentives. The initiative is part of the companies' strategy to raise capital for future investments and growth.
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