Baronsmead 2vt Regulatory News (BMD)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA.

BARONSMEAD SECOND VENTURE TRUST PLC

8 November 2017

Offer for Subscription - Update

On 4 October 2017, Baronsmead Second Venture Trust plc (the "Company") published a prospectus (the "Prospectus") in relation to an offer for subscription to raise up to £24 million (before costs) (the "Offer"). The Company announced on 26 October 2017 that it had raised gross proceeds of approximately £13.5 million pursuant to the Offer and accordingly had issued 13,797,365 New Shares at an Offer Price of 97.60 pence.

The Board of the Company is now pleased to announce that as at the close of business on 7 November 2017, the Company had raised gross proceeds of approximately £16.5 million in total pursuant to the Offer.

The Board has resolved to move the second allotment of New Shares under the Offer from 15 November 2017 to 17 November 2017 to allow Existing Shareholders and new investors additional time to submit their Subscription Forms. The Company will make a further announcement in relation to the second allotment, including the Offer Price at which the New Shares will be issued, in due course. In accordance with the terms of the Offer the Board has further resolved to extend the Offer period to 12 noon on 29 December 2017 or until such date as the Offer is fully subscribed, being no later than 29 December 2017.

Subscriptions will be processed by the Receiving Agent on a "first come, first served" basis. Existing Shareholders and new investors who wish to participate in the Offer should return a completed Subscription Form to the Receiving Agent, as set out in the Prospectus, as soon as possible.

Definitions

Terms defined in the Prospectus have the same meanings in this announcement unless the context requires otherwise.

Further information

For further information please contact.

Michael Probin - VCT investor relations

Livingbridge VC LLP

020 7506 5796

Notes

This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investment in any jurisdiction, nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.

The issue and the distribution of this announcement and the Prospectus in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to in this announcement and the Prospectus comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.