At this years AGM on 28 Aug 2019, 3 directors were voted out, Sir Robin Miller, Lord Flight and David Glick.
ShareSoc has been critical of this VCT for some time, see
Shareholder dissent continued and at this year’s AGM on 28 Aug 2019, 3 directors were voted out, Sir Robin Miller, Lord Flight and David Glick and various other motions were defeated.
Proxy votes cast were as follows:
|2.||Approve directors’ remuneration report||1,770,628||3,106,545||47,968|
|3.||Re-elect Sir Robin Miller||1,725,784||3,140,268||59,089|
|4.||Re-elect Lord Flight||1,659,996||3,206,056||59,089|
|5.||Re-elect David Glick||1,715,071||3,183,421||26,649|
|6.||Re-appoint Grant Thornton UK LLP as auditor||2,147,140||2,751,352||26,649|
|8.||Authorise directors to allot shares||1,960,585||2,938,060||26,496|
|9.||Authorise directors to allot shares with disregard to pre-emption rights||1,737,431||3,118,075||69,635|
That leaves only one director Terry Back, who sits on the board of Edge Performance VCT. He is the founder and a former partner of Grant Thornton’s Media & Entertainment practice and has over 40 years of advisory experience, specialising in independent television companies. Terry is a non-executive director of a number of private companies and served on the non-executive boards of both Grant Thornton UK and Grant Thornton International.
A ShareSoc member present at the AGM said that the remaining director was thinking what to do next !
This further demonstrates that ShareSoc can influence VCT outcomes like we did at Ventus and Albion. Please join and support our VCT Investors Group Campaign. https://www.sharesoc.org/campaigns/vct-investors-group/
Disclosure I do not own shares in EDGE.
Cliff Weight, Director, ShareSoc