Baronsmead VCT 4 in share offer

Baronsmead VCT 4, managed by lSIS Equity Partners, has announced an offer for subscription to issue three million new shares. The offer is open until 22 June 2004, unless fully subscribed before that date. Philip Dunne, chairman of Baronsmead VCT 4, comments: 'We are aware that many private investors are keen to take advantage of the revisions to the VCT taxation benefits announced in the March budget and set out in the Finance Bill published on 8 April 2004. For the first time, subscribers can receive a 40% income tax benefit that can be reclaimed against their annual income tax liability. Although this benefit can be retained by shareholders once they have been invested more than three years, the nature of private equity investing is such that investors should view an investment in Baronsmead VCT 4 as long-term. Over the next three years, the new capital will be invested in unquoted and Aim-traded companies with the intention that each investment will be typically held for three to five years prior to its sale.'

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