Foresight 4 VCT

Foresight 4 VCT Announce Board and Other Changes

Following a campaign by some shareholders in Foresight 4 VCT Plc (FTF) supported by ShareSoc (see https://www.sharesoc.org/foresight4.html ) which resulted in the directors only narrowly managing to get re-elected at the recent AGM, the company has now responded with a major announcement. The proposed changes are: Chairman Philip Stephens and Director Peter Dicks indicate they intend to retire from the board. A specialist recruitment firm is being engaged to identify suitable candidates to replace them (this was one of the suggestions that ...

Foresight 4 VCT AGM Result

At the Annual General Meeting of Foresight 4 VCT today, all three board directors only very narrowly managed to get re-elected - with 50.01% voting FOR Chairman Philip Stephens, 51.69% voting FOR Peter Dicks and 52.69% voting FOR Simon Jamieson. There were substantial votes against several other resolutions, including 41% AGAINST the allotment of shares so that Resolution was lost. The directors had a board meeting after the AGM so they no doubt were considering their position bearing in mind that although ...

Foresight 4 VCT Update

ShareSoc wrote to shareholders in Foresight 4 VCT (FTF) in advance of the AGM on the 30th September. We suggested shareholders vote against the re-election of the directors. For...

A Couple of Problem VCTs – Foresight 4 and Edge Performance

Some Venture Capital Trusts (VCTs) have been great at delivering decent total returns (and tax free dividends) for investors over the years. But others have demonstrated very poor performance which often has not even compensated for the initial tax benefits. This frequently results in mergers, restructurings, changes of manager or changes of directors to mollify disgruntled shareholders. Foresight 4 VCT Plc is one example of a patchy history where Foresight took over fund management of VCTs that got into some difficulties. But ...

Foresight 4 “C” Shareholders Object

Shareholders in the "C" fund of Foresight 4 VCT are unhappy with the conversion of their shares to Ordinary shares. These holders are former investors in the Acuity VCTs. They feel the conversion is being done on inequitable terms for the "C" shareholders. Put at its simplest, C shareholders are aggrieved that free and surplus cash in the C fund has not been paid out to them as a dividend before conversion. A large portion of surplus cash within existing C shares ...