Shareholders on the register of Rensburg AIM VCT will have received a letter from Bill Nixon of Maven Capital Partners. Maven are an experienced Venture Capital Fund manager and have experience of taking over the management of existing VCTs as the letter indicates. They are proposing to take over the management of the Rensburg AIM VCT instead of the company winding up as the board of directors has proposed.
The company has previously announced that they propose to formally wind up via a members voluntary liquidation and the listing of the company’s shares will be cancelled. It would thereafter have 3 years to dispose of its assets under the VCT regulations during which it would not need to make further investments. Shareholders are being given a vote on this matter and it is exceedingly important that you do vote so as to ensure that your views are taken into account.
We have published a note outlining some of the issues that shareholders need to understand on this matter. It is here: https://www.sharesoc.org/Rensburg-VCT-Wind-up2.pdf .
We may issue more information after seeing the notice of the General Meeting to approve a wind-up which we understand will be issued in June.