Campaigns

Beaufort Client Campaign

This campaign is now closed as its principal objectives have been achieved with assets restored in full to almost all Beaufort clients. ShareSoc will consider whether to launch a further campaign to address the broader issue of the inefficient operation of the Special Administration Regime. ShareSoc is appalled by the treatment of Beaufort client assets proposed by administrator PWC and the huge fees PWC intends to charge for their services. We have therefore launched this campaign, seeking to minimise the losses suffered ...

EDGE Performance VCT Campaign

ShareSoc Edge Performance VCT Campaign ShareSoc launched (in 2019) a campaign to improve the governance and performance of Edge Performance VCT Plc (consisting of H and I share classes) and reduce the fees charged by its investment manager, Edge Investments Limited. At the 2019 AGM, all 3 directors who stood for re-election were not re-elected; nor were the auditors Grant Thornton; the remuneration report was not approved, nor was approval given to allot shares. On 1 November 2021, ShareSoc Campaign members submitted resolutions to ...

Blancco (BLTG)

We have closed this campaign as at 12 May 2022. The campaign achieved one objective of a fine of the auditors KPMG. However the derisory amount £3,500 plus costs of £2,743 questions whether the scale of the offence was fully recognised/punished by the regulator, the ICAEU. At the December 2020 Blancco AGM, the Chairman, Rob Woodward said that: The FCA had posed a number of questions to the Company The Company had answered those questions The Company was never advised that the ...

Redcentric (RCN)

  On the 7th November 2016, out of the blue, Redcentric plc published a shock announcement disclosing the discovery of misstatements in the company’s accounts. Unsurprisingly, this announcement precipitated a collapse in the company’s share price from 150p to 63p that day (it had previously traded as high as 200p earlier in 2016 and has subsequently recovered somewhat). The announcement, and subsequent announcements, combined with previous events raises serious concerns for shareholders in Redcentric. On behalf of individual shareholders, ShareSoc is investigating what occurred, with ...

Foresight 4 VCT

Latest news and a form enabling you to join this campaign can be found at the foot of this page. This page was created to inform shareholders in Foresight 4 VCT Plc - a Venture Capital Trust with a patchy performance record. Foresight took over the management of Advent 2 VCT in 2004 and renamed it Foresight 4. In 2012 there were mergers with Foresight Clearwater VCT and with Foresight 5 and the Acuity VCT 3 - the latter two forming a separate class ...

Globo

This Campaign is now closed. We will inform readers of any developments, from the FCA or others, if and when they arise. A recovery of shareholders' funds is unlikely. This page was created to inform shareholders in Globo Plc about the events in October/November 2015 and thereafter. The most recent developments are summarised in this blog in August 2018 by Roger Lawson https://www.sharesoc.org/blog/regulations-and-law/lax-regulation-globo-grg-and-japanese-trust-agm/. The FRC announced in summer 2018 that they have dropped the investigation on the basis that there is no realistic prospect of ...

Alliance Trust Shareholder Aaction Group (ATSAG)

This campaign was launched in May 2015 subsequent to the proxy fight by Elliott Advisors to appoint three new directors to the board of the company. ShareSoc supported Elliott and published a press release and a further note on the issues they had raised - see Alliance-Press-Release. Although the board conceded defeat by accepting two of the Elliott nominees and the appointment of another director, several private investors approached ShareSoc as they still had further concerns about the future strategy and ...

Oxford Technology VCTs

(the latest news is at the foot of this page) This campaign was launched in March 2014, following notice from HMRC of the loss of VCT status at two of the Oxford Technology VCTs. The following information was issued in a press release: ShareSoc launches Group for concerned shareholders in the Oxford Technology VCTs The Oxford Technology VCT (OXT) and Oxford Technology 3 VCT (OTT) have announced that HMRC has withdrawn their VCT status. This has been done because one of the Venture Capital ...

Graphite Enterprise Trust PLC

The latest news is at the foot of this page. This campaign was launched in  August 2012. The following information was issued in a press release: ShareSoc Launches Campaign on Excessive Share Price Discount at Graphite Enterprise ShareSoc (the “UK Individual Shareholders Society”), has launched a Shareholder Action Group in relation to Graphite Enterprise Trust Plc. We have major concerns about the persistent discount to Net Asset Value (NAV) at which the shares of this company trade and some aspects of the corporate governance ...

Intercede Group PLC

Latest news on this campaign can be found towards the bottom of this page. This campaign is now closed. This campaign was launched in March 2012 although the source of the complaints goes back to August 2011. The following information was issued in a press release: ShareSoc Launches Attack on Unjustifiable LTIP Award at Intercede Group Plc ShareSoc (the “UK Individual Shareholders Society”), has launched a Shareholder Action Group in relation to Intercede Group Plc. Intercede announced a Long Term Incentive Plan (“LTIP”) in August ...