Directorate Change

Baronsmead Second Venture Trust plc

Directorate change

The Board of Baronsmead Second Venture Trust plc (the "Company") hereby announces that John Davies has notified the Board of his intention to retire as Director and Chairman of the Company and as Chairman of the Nomination Committee and the Management Engagement and Remuneration Committee. It has been agreed that Mr Davies' resignation will take effect from 27 February 2020.

The Board of the Company are pleased to announce that Sarah Fromson, who is an independent Non-Executive Director of the Company, will replace Mr Davies as Chairman of the Company and as Chairman of the Nomination Committee and the Management Engagement and Remuneration Committee, with effect from 27 February 2020.

Mr Davies commented "It has been a privilege and pleasure to serve on the Board of this Company and its predecessors in the Baronsmead family with invaluable support from able colleagues and a skilled management team. I look forward to its continuing success under Sarah's leadership."

The Board would like to thank Mr Davies for his significant and valuable contribution over the past number of years and wish him well going forward.

In light of this information, the Board therefore intends to withdraw resolution number 5 as set out in the Notice of Annual General Meeting relating to his re-election as a director.

Other than as set out above, there are no items requiring disclosure under paragraph 9.6.13 of the UKLA's Listing Rules.

28 January 2020

For further information, please contact:

Baronsmead VCT Investor Relations

020 3875 9862

baronsmeadvcts@greshamhouse.com