Oxford Technology VCTs

Changes at Oxford Technology VCTs

Announcements were made last week about further changes at the four Oxford Technology VCTs and the financial results for the year were also published. These companies experienced somewhat of a revolution last year after two of them narrowly escaped losing their Venture Capital Trust tax status. New directors were appointed to them at that time. This is what is said by the Chairman in one of the Annual Reports about that problem: "Since taking up our appointment, the new Directors of the ...

Oxford Technology VCTs and Scottish Independence

Today the two Oxford Technology VCTs that were threatened with withdrawal of VCT status have announced that the changes required by HMRC to enable them to retain VCT status have been achieved and accepted by HMRC. Presumably that has required the disposal of some of the Scancell shares that were the source of the difficulty and that has been confirmed in the announcements. This therefore probably concludes the campaign on these VCTs that ShareSoc mounted as there has been an almost complete ...

Oxford Technology VCTs and Baronsmead VCT 3

ShareSoc has organised a meeting for those investors in the two Oxford Technology VCTs who are affected by the withdrawal of VCT status. It is scheduled for the 20th May in the City of London. Although the companies have submitted an appeal letter to HMRC, there is some doubt as to whether the appeal will be successful. See this web page for more details of the issues, and how to register for the meeting if you wish to attend:  https://www.sharesoc.org/campaigns5.html . ...

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The Oxford Technology VCT (OXT) and Oxford Technology 3 VCT (OTT) have announced that HMRC has withdrawn their VCT status.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 Trust rules is that no more than 15% of a fund can be invested in one company. Both these companies have a holding in Scancell, an AIM listed company, and the share price of Scancell rose rapidly so that the rule was inadvertently breached as a result of a small funding ...

Oxford Technology VCTs lose VCT status

The Oxford Technology VCT (OXT) and  Oxford Technology 3 VCT (OTT) have announced that HMRC has withdrawn their VCT status.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 Trust rules is that no more than 15% of a fund can be invested in one company. Both these companies have a holding in Scancell, an AIM listed company, and the share price of Scancell rose rapidly so that the rule was inadvertently breached in October 2013 which the company reported ...