KINGS ARMS YARD VCT PLC (KAY)

KINGS ARMS YARD VCT PLC (KAY)

Blog posts

Long Serving Directors and Kings Arms Yard VCT

I have commented in the past on my objections to long-serving directors on public company boards. That included comments on the directors of Baronsmead Venture Trust (BVT) only a few weeks ago – see my AGM report: https://www.sharesoc.org/agm-reports/baronsmead-venture-trust-bvt-agm-2020/ – particularly the Chairman Peter Lawrence. The UK Corporate Governance Code contains specific provisions that indicate that directors who serve for more than 9 years cannot be considered independent. Therefore companies should provide good explanations as to why they wish to ignore this provision. ...

End of year musings – VCTs

Should I continue to invest in VCTs, I ask myself. Hold, Buy or Sell? I was steered into these investments by my financial adviser, when I was busy working...

AGM Reports

Kings Arms Yard VCT (KAY) AGM Report 2019

This year’s Kings Arms Yard VCT AGM was held on Monday (May 21st 2019) starting at 11.00. The venue was the same as the previous eight AGMs since Albion took over as manager in 2011: The City of London Club, 19 Broad Street, London, EC2N 1DS. Sadly this is the last year they will hold it at this excellent venue due to a building refit, so next year it will be held at Albion’s new offices in Farringdon. The Chairman Robin Field ...

Kings Arms Yard (KAY) VCT AGM 2015

Yesterday, the 14th May, I attended the Annual General Meeting of Kings Arms Yard VCT in central London. Since Albion was appointed as fund manager 4 years ago, this VCT’s performance has improved since the days of Quester VCT back in the late 1990’s (who made some not so wise investments in the dot.com bubble) and then Spark VCT in 2008 (just in time for the crash). This year though KAY has taken a small step backwards with a reduction in ...

Kings Arms Yard VCT (KAY) AGM Report 2014

Kings Arms Yard VCT (KAY) is a Venture Capital Trust with a very chequered history. Originally the Quester VCTs formed the basis of the company - some of which had truly appalling performance as a result of investing in highly priced concept stocks in the last dot.com boom. Spark then took over the fund management so they were renamed Spark VCTs, but performance did not improve. A new Chairman was then appointed (Robin Field who is still Chairman) after further shareholder ...

Kings Arms Yard VCT PLC (KAY) AGM Report 2012

Kings Arms Yard is a Venture Capital Trust that was formed on the 30 September 2011 after a merger with Kings Arm Yard VCT 2 PLC. Looking at Kings Arms Yard (KAY) alone over the last few years before and then discounting the merger things have not gone well, going from a NAV of 41.6 in 2007 to 16.7 at end 2011 with the shares trading at 45% discount to this. I attended the Annual General Meeting of the company on the ...