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21 Dec 2012 15:56
BARONSMEAD VCT 3 PLC - Issue of EquityBARONSMEAD VCT 3 PLC - Issue of Equity
PR Newswire
London, December 21
Baronsmead VCT 3 plc
Allotment of Shares
On 20 November 2012 Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3plc, Baronsmead VCT 4 plc and Baronsmead VCT 5 plc ("the Companies" and each a"Company") published a Prospectus in relation to offers for subscription fornew ordinary shares of 10p each in each of the Companies ("New Shares"), toraise in aggregate up to £30 million (before issue costs) (the "Offers" andeach an "Offer"). The Offers opened on 11 December 2012 and the Companyannounced that its Offer had become fully subscribed on 18 December 2012.
The Company announces the allotment of New Shares has taken place today at anOffer Price of 117.40p per share pursuant to the Offer raising £5,000,000(before expenses).
In accordance with the Prospectus, the Offer Price at which the New Shares havebeen allotted in the Company was calculated on the basis of the followingformula:
Latest published net asset value of an existing Ordinary Share on the day ofallotment divided by 0.945 (to allow for issue costs of 5.5 per cent.) roundedup to the nearest 0.1p per share.
As a result, the Offer Price was calculated as follows:
Offer Price of New Shares allotted on 21 December 2012 Baronsmead VCT 3 plc (pence per Share)Latest published NAV as at 12 December 2012 110.85
Latest published NAV divided by 0.945 117.301Offer Price (rounding up to nearest 0.1p) 117.40
The number of New Shares allotted and the total number of Ordinary Shares inissue after the allotment are shown below:
New Shares Ordinary Shares allotted (1) in issue following allotment (2)Baronsmead VCT 3 plc 4,258,668 75,731,9191. Includes New Shares allotted with respect to any commissions waived andreinvested
2. Includes 8,929,214 Ordinary Shares held in Treasury
The New Shares rank pari passu in all respects with the existing OrdinaryShares.
Application has been made to the UK Listing Authority and the London StockExchange for the New Ordinary Shares to be admitted to the Official List and totrade on the London Stock Exchange's main market for listed securities. It isexpected that admission will become effective and dealings will commence on, oraround, 28 December 2012. Definitive documents of title and income tax reliefcertificates are expected to be dispatched within ten business days ofallotment.
For further information, please contact:
Michael Probin - Investor Relations
ISIS EP LLP
Telephone: 020 7506 5796
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