FTF

VCT Investors Group Action Plan

23 ShareSoc members who are also members of the VCT investor group met on 26 February 2020 at the East India Club. We reviewed recent successes at Ventus, Albion,...

CAKE (Patisserie), Foresight 4 VCT AGM, Payment Companies and Dunelm

More bad news from Patisserie Holdings (CAKE) today – well at least you can’t say the directors are not keeping you informed about their dire situation which is not always the case in such circumstances. Yesterday the company announced that its major operating company had received a winding-up petition from HMRC, of which the directors had only recently become aware. Today the company said after further investigation the board has reached the conclusion that without an “immediate injection of capital, the Directors ...

RIT Capital Partners, Foresight 4 VCT and Sepsis

RIT Capital Partners (RCP) is an investment trust that recently issued its interim report. As one of my longer standing holdings, first purchased in 2003 although I have reduced my holding of late, I read the report with interest. RCP has been a long-standing favourite of private investors having traditionally taken a somewhat defensive investment approach. But the portfolio is now most peculiar. It contains 8.8% of “quoted equities” but many of them are held as “swaps”, 27.7% in “long-only funds”, ...

Foresight 4 VCT – Big Changes Needed at the AGM

ShareSoc recommends that shareholders vote against the re-election of Raymond Abbott and Michael Gray and against the re-appointment of KPMG. (NOTE: If you have already voted in favour, its not too late to change your vote and resend your proxies. Additional form(s) of proxy may be obtained by contacting Computershare Investor Services plc on 0870 703 6385.) BACKGROUND OF FAILURE Foresight 4 VCT has a litany of past failures in investment performance and corporate governance. It made major £30m errors in several reserves in its accounts ...

Foresight 4 VCT Announce Board and Other Changes

Following a campaign by some shareholders in Foresight 4 VCT Plc (FTF) supported by ShareSoc (see www.sharesoc.org/campaigns/foresight-4-vct/) 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 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...