Downing Income VCT plc (DIVO)

On the 20th September 2012, I along with Roger Lawson attended the Annual General Meeting of Downing Income VCT 3 (previously know as Downing Distribution VCT 2 and formed from a merger of several other underperforming VCTs – the history is too complex to cover here). This is quite possibly one of the worst performing Venture Capital Trusts based on total return over the last fifteen years. So one shareholder said that based on his original investments (commencing in 1997) he ...

Yesterday there was a General Meeting of Downing Income VCT3 – what used to be called an Extraordinary General Meeting (EGM) but technically there is no longer any such thing – there are only General Meetings. This was called to approve the issue of new shares (in effect to create a new “E” share investment pool), with all the associated changes to the Articles that are required. Bearing in mind that this company has been a very disappointing investment over the years ...