Blog posts

VCT/EIS Changes and Rensburg AIM VCT

The Summer Budget announced changes to the qualifying investments for Venture Capital Trusts (VCTs) and EIS investments. Some of changes and their impact were not immediately apparent but have come to light since. The rules will effectively be tightened to keep them focussed on early stage companies. For example for VCTs the investee companies will need to have been trading less than 10 years (or 7 years if they are not "knowledge intensive" businesses) and management buy-outs will be discouraged. The details ...

AGM Reports

Unicorn AIM VCT (UAV) AGM 2018

Yesterday I attended the AGM of Unicorn AIM VCT (UAV) which is of course a Venture Capital Trust. I am generally not wildly keen on AIM VCTs from past experience – they tend to buy shares in companies from IPOs and Placings when the prospects for the company are being puffed up by promoters, and then they have no ability to intervene when problems arise as do VCTs who invest in unlisted shares and with onerous shareholder agreements. Neither can they ...


Apart from the directors and others associated with the company there were two shareholders present together with David Blundell, a director of Sharesoc, who was proxy on behalf of another shareholder. The chairman Mr Battersby opened the meeting with a short introduction followed by the resolutions all of which were passed by a significant majority although on the show of hands Mr Blundell voted against the reappointment of the directors as per proxy instructions. The meeting was then opened to the floor ...

ShareSoc News

ShareSoc Gives Voting Recommendations for Rensburg AIM VCT Annual General Meeting

PRESS RELEASE 67 4/8/2015 ShareSoc has been running a campaign on Rensburg AIM VCT since 2011. Our initial concerns were the investment performance and policy, but more recently the Directors proposed to wind-up the company. ShareSoc opposed that on the grounds that many investors, some of whom originally would have claimed capital gains roll-over relief, would be disadvantaged by such a move. Although the position of investors is affected by their personal circumstances and tax position, it seemed possible to us to ...
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