ShareSoc are pleased with the outcomes at Ventus and Ventus 2 VCTs. It appears that following difficult AGMs, the directors have listened to shareholders’ concerns and have come up with a plan to address the many points raised. The campaign was led by Nick Curtis and supported by Sharesoc and seems to have had a good result.
Ventus has now appointed Nick Curtis to the Board of Ventus VCT plc with effect from 1st October 2019.
Chris Zeal and Lloyd Chamberlain will resign from the board of Ventus VCT with effect from 1st October 2019 and will take up seats on the board of Ventus 2 VCT plc.
Following the appointment of Nick and the resignations of Chris and Lloyd, the Ventus VCT board will comprise three directors, David Williams, Jo Dixon, and Nick Curtis. I am pleased at this, as I thought 4 NEDs was excessive.
At Ventus 2, Paul Thomas was voted off the board at the AGM. Chairman Alan Moore intends to step down as Chairman and Director in the next few months, during which period he will prepare to hand over the Chair to Lloyd Chamberlain.
Nick Curtis said to me “The Chairman of Ventus, David Williams asked me to join the board. Following discussions with him and Lloyd Chamberlain I became satisfied that the offer was made in good faith. There are complex challenges ahead, in particular the communication of the options around the 2020 continuation vote to shareholders. I look forward to working with Temporis and all the Ventus directors for the benefit of shareholders. The Ventus funds have made important steps to refresh both the boards and this has to be welcomed by shareholders.”
Cliff Weight, Director, ShareSoc
Disclaimer: I own shares in Ventus and Ventus 2.
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