Mon, 03/12/2012 - 06:42
The Baronsmead VCTs have launched new offers to raise up to GBP30m in aggregate, before costs.
Investors can choose to invest equally across the offers or different amounts in one or more of the offers.
The five Baronsmead VCTs were established between 1995 and 2006 and each has an existing portfolio of between 49 and 71 companies.
From 13 November 1995 to 31 October 2012 the Baronsmead VCTs have raised approximately GBP343m (net of costs), providing shareholders with a combined total return of approximately GBP485m.
The dividend policy of each company is to seek to maintain a regular flow of dividends to shareholders. Since their respective launches, each company has paid average annual dividends that have ranged between 7.1p and 3.8p per share (equivalent to 9.5p and 5.1p per share to those higher rate taxpayers who qualify for VCT tax reliefs).
Baronsmead has a strong track record in portfolio management through its manager, ISIS Equity Partners, investing in successful businesses including Crew Clothing, car rental broker Nexus, and previously in Fat Face, the clothing designer which was sold in 2005 generating a return of over 11x.
Andrew Garside, investment director at ISIS Equity Partners, says: “The Baronsmead VCTs are delighted to offer new investors and existing shareholders the opportunity to invest directly in the five Baronsmead VCTs, enabling investors to participate in the investment returns of each company’s existing portfolio and their future dividends.
“Each of the boards believes that now is an advantageous time in the economic cycle for their respective company to augment its existing pool of investments by making further new investments in UK smaller companies.”
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