At this years AGM on 28 Aug 2109, 3 directors were voted out, Sir Robin Miller, Lord Flight and David Glick.
ShareSoc has been critical of this VCT for some time, see
https://www.sharesoc.org/blog/vcts/edge-performance-vct-the-worst-show-on-earth/
https://www.sharesoc.org/blog/vcts/edge-vct-trick-treat-pair-rnss/
https://www.sharesoc.org/agm-reports/edge-performance-vct/
Shareholder dissent continued and at this years AGM on 28 Aug 2109, 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:
| Resolution | For | Against | Withheld | |
|---|---|---|---|---|
| 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
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