FORESIGHT 4 VCT PLC (FTF)

FORESIGHT 4 VCT PLC (FTF)

Blog posts

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 ...

ShareSoc Foresight 4 Campaign update 26 May 2017

We recommend (with reservations) that shareholders vote in favour of the resolutions to merge Foresight 3 & 4 and to raise additional funds of £50 million, and possibly up...

VCT News – Baronsmead, Northern VCTs and Foresight 4

I attended the Annual General Meeting of Baronsmead Venture Trust this week (on 14/2/2017). It was not particularly well attended perhaps because of the early start time of 10.00...

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 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,...

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...

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 ...

AGM Reports

Foresight 4 VCT (FTF) AGM Report 2018

This year’s Foresight 4 VCT AGM was held on Thursday 11th October 2018 commencing 13:00, at the Foresight Offices, 23rd floor, The Shard, SE1 9SG. There were around 40 attendees, this included about 25 ordinary shareholders, several representatives from the manager and the F4 Board of Directors comprising the Chairman Raymond Abbott (RA), Simon Jamieson (SJ) and Michael Gray (MG).The meeting began with the Manager’s presentation followed by Q&As and finally the formal AGM. The Annual report for year ending March 2018 can ...

Foresight 4 VCT (FTF) AGM REPORT 2017

This year’s Foresight 4 VCT AGM was held on Thursday 28th September 2017 commencing 10:00, at the Foresight Offices, 23rd floor, The Shard, SE1 9SG. There were around 30 attendees, which included about 15 ordinary shareholders, several representatives from the manager, two investee company directors and the F4 Board of Directors comprising the Chairman Raymond Abbott (RA), Simon Jamieson (SJ) and newly appointed director Michael Gray (MG). The Annual report for year ending March 2017 can be found here: http://www.foresightgroup.eu/media/537964/foresight-4-vct-annual-re... ShareSoc have had a long ...

Foresight 4 VCT (FTF) AGM Report 2016

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 ...