CROWN PLACE VCT PLC (CRWN)

CROWN PLACE VCT PLC (CRWN)

Blog posts

VCTs – Possible budget changes and pre-planning our response

The autumn statement/budget on 22nd November is getting closer, so we may soon learn the government's views on patient capital. At a Proven VCT meeting on 1 November the VCT manager, Stuart Veale, seemed certain that something will change for VCTs, but nobody knows what. Richard Waltham spoke to him afterwards to suggest that if the changes are adverse then the main focus for lobbying could move from the Treasury to MPs. It may only take a handful of MPs to trigger ...

National Grid, Johnston Press, Crown Place VCT, Lloyds Bank and LoopUp

I had a busy day yesterday, but let me first comment on the news today. National Grid (NG.) published their half year results this morning. They reported “Adjusted operating profit, excluding timing up 4%....” but statutory earnings per share were down by 12%. What exactly does “adjusted for timing” mean? I have no idea because the announcement does not explain it in any sensible way. For example, it says under “UK Timing”: “Revenues will be impacted by timing of recoveries including ...

Is this a record – 950 share certificates?

Yesterday was the AGM of Crown Place VCT. A somewhat unexciting meeting in some ways (a full report can be found here), but it did give me the opportunity to meet someone who holds 950 share certificates for different companies. This is not just unusual, it may be a record. The shareholder had already been to two other AGMs earlier in the day. He apparently handles probate matters for individuals which accounts for this. Another shareholder asked me about the current dematerialisation ...

AGM Reports

Crown Place VCT (CRWN) AGM 2019

This year’s Crown Place VCT AGM was held on Wednesday 27th November 2019 at 12:00 at The Charterhouse – www.thecharterhouse.org – close to Farringdon rail and tube station, Barbican tube station and Albion’s office in Benjamin Street. I would estimate that there were around 40 to 50 private investors present. The Annual Report and Accounts for year ending 30th June 2019 can be found here: https://www.albion.capital/sites/default/files/reports/attachments/... The Interim Management Statement to 30th September 2019 was also released in the morning just before the AGM ...

Crown Place VCT (CRWN) AGM report 2018

I recently attended the Crown Place VCT AGM, which was held on Thursday November 29th 2018 commencing at 11.00 at the City of London Club, 19 Old Broad Street, London EC2N 1DS. The link to the annual report for year ending June 30th 2018 can be found here: https://www.albion.capital/sites/default/files/reports/attachments/... The IMS for the three months ending September 30th 2018 was released just before the AGM; it reported a NAV of 34.56 pence per share, an increase of 1.06 pence per share (3.2 per cent) ...

Crown Place VCT (CRWN) AGM 2017

I recently attended the Crown Place VCT AGM, which was held on Wednesday November 8th 2017 commencing at 11.00 at the City of London Club, 19 Old Broad Street, London EC2N 1DS. The link to the annual report for year ending June 30th 2017 can be found here: https://www.albion-ventures.co.uk/funds/CRWN The IMS for the three months ending September 30th 2017 was released just before the AGM; it reported a NAV of 31.71 pence per share, an increase of 0.73 pence per share (2.4 per cent) ...

Crown Place VCT (CRWN) AGM report 2016

I recently attended the Crown Place VCT AGM which was held on Thursday November 17th commencing at 11.00 at the City of London Club, 19 Old Broad Street, London EC2N 1DS. The link to the annual report for year ending June 30th 2016 can be found here: https://www.albion-ventures.co.uk/funds/CRWN The IMS for the three months ending September 30th was released just before the AGM, it reported a NAV of 30.70 pence per share, an increase of 1.76 pence per share (6.1 per cent) since 30th ...

Crown Place VCT (CRWN) AGM Report 2013

The Annual General Meeting of Crown Place VCT took place on the 14th November 2013. This is of course a Venture Capital Trust and was formed by the merger of two of the former Murray VCTs in 2005 when Albion took over the fund management after a “revolution” prompted by the appallingly bad performance of the previous fund manager. Matters have certainly improved since then although the total shareholder return has only been 8.16p per share since 2005 so it’s no ...

Crown Place VCT (CRWN) AGM Report 2011

Today I attended the Annual General Meeting of Crown Place VCT in London. This company was formed by the merger of two of the former Murray VCTs originally managed by Murray Johnstone and was renamed after Albion took over the management in 2005. Before that they had a pretty dismal performance over some years with the result that the board decided eventually to change the fund manager after some encouragement. At that point a three-cornered fight took place between the company ...