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 ...
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 ...
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 ...
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 ...
(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 ...
This campaign was launched in October 2012, following abandonment of the proposed merger with EADS. The following information was issued in a press release:
ShareSoc Calls for Change at the Top of BAE Systems Plc
Following the collapse of the merger talks between BAE Systems and EADS, ShareSoc launched a campaign which called for the Chairman and Chief Executive of the company to step down. In our view the idea that this merger would gain the widespread support of shareholders (including the votes ...
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 ...
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 ...
The merger with Unicorn AIM VCT was approved by shareholders at a General Meeting on the 27th November 2015. See note at bottom of page.
This campaign is therefore closed.
Latest news is at the foot of this page
This was the first company campaign that ShareSoc launched (in October 2011). The following note was sent to shareholders on the share register of the company together with a covering letter summarising the issues.
Background information on Rensburg AIM VCT Plc and the Shareholder Action ...