Allotment of Shares & Close of Offer

20 Feb 2012 18:07

Baronsmead VCT 2 Plc Allotment of Shares & Close of Offer

Allotment of Shares

On 12 January 2012, Baronsmead VCT 2 plc ("the Company"), Baronsmead VCT plc, Baronsmead VCT 3 plc and Baronsmead VCT 4 plc launched separate offers for subscription for new ordinary shares of 10p each to raise up to £4,135,000 per company, before expenses, and £16,540,000 in aggregate ("the Offers" and each an "Offer"). The Company announced on 1 February 2012 that its Offer had become fully subscribed.

The Company announces the allotment of 4,077,587 New Ordinary Shares has taken place today at an Offer Price of 101.40p per share pursuant to the Offer raising £4,135,000 (before expenses).

In accordance with the Offer document dated 12 January 2012, the Offer Price at which the New Ordinary Shares have been allotted in the Company was calculated on the basis of the following formula:

Latest published net asset value of an existing Ordinary Share on the day of allotment divided by 0.9525 (to allow for issue costs of 4.75 per cent.) rounded up to the nearest 0.1p per share.

As a result, the Offer Price was calculated as follows:

Offer Price of New Ordinary Shares Allotted on 20 February 2012 Baronsmead VCT 2 Plc (pence per New Ordinary Share) Latest published NAV as at 31 January 2012 96.52 Latest published NAV divided by 0.9525 101.33 Offer Price (rounding up to nearest 0.1p) 101.40

The number of New Ordinary Shares allotted and the total number of Ordinary Shares in issue after the allotment are shown below:

New Ordinary Shares Ordinary Shares allotted (1) in issue following allotment (2) Baronsmead VCT 2 plc 4,077,587 80,866,771

1. includes shares allotted with respect to any commissions waived and

reinvested

2. includes 8,698,819 shares held in Treasury

The New Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares.

Application has been made to the UK Listing Authority and the London Stock Exchange for the New Ordinary Shares to be admitted to the Official List and to trade on the London Stock Exchange's main market for listed securities. It is expected that admission will become effective and dealings will commence on, or around, 22 February 2012. Definitive documents of title and income tax relief certificates are expected to be dispatched within ten business days of allotment.

Close of the Offer

Accordingly, following the allotment of New Ordinary Shares today, the Offer has closed.

For further information please contact:

Michael Probin VCT Investor Relations Director ISIS EP LLP 020 7506 5796