This blog gives you the latest topical news plus some informal comments on them from ShareSoc’s directors and other contributors. These are the personal comments of the authors and not necessarily the considered views of ShareSoc. The writers may hold shares in the companies mentioned. You can add your own comments on the blog posts, but note that ShareSoc reserves the right to remove or edit comments where they are inappropriate or defamatory.

ShareSoc Campaign has Successful Outcome at Albion

ShareSoc is pleased with the outcome of this consultation with shareholders following the shareholders 30% vote against the fee proposal at the General Meeting in August 2019. This shows:

i. The FRC requirement for companies to consult shareholders if >20% vote against any resolution works well. In this case, the AAVC board spent considerable time on this consultation.
ii. The ability of ShareSoc to mobilise and coordinate shareholders to be an effective force for good, to force change.
iii. All other companies should pay heed to what has happened at Albion. The initial failure to listen to shareholders’ genuine concerns has required the expenditure of large amounts of time being spent by the AAVC board and the manager Albion Capital, and made the day to day running of the business unnecessarily more difficult. Such problems are best avoided.

You can read the AAVC RNS of the changes here https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AAVC/14413402.html

The compromise proposed by AAVC, which has been agreed by the manager Albion Capital, will not be viewed by all shareholders as perfect. However we think it is a good compromise. It is time for ShareSoc to move on, to divert its energies elsewhere. ShareSoc is therefore halting its Albion Campaign.

We will of course watch progress at Albion with interest.

Lastly, we congratulate Albion on their recent highly successful fund raise and recent exits from investments at good prices.

PS to followers of the EDGE VCT Campaign. Sorry, but we do not have any progress to report at present.

Cliff Weight, ShareSoc Director

One comment
  1. barry collins 6th February 2020 at 10:04 pm

    Cliff, I am indeed most grateful & left a thank you to both you & Tim on the lemonfools board earlier today. A very pleasing result, thanks again !

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

join ShareSoc

Get more stuff

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Other Blog Posts