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Oxford Technology VCTs lose VCT status

The Oxford Technology VCT (OXT) and  Oxford Technology 3 VCT (OTT) have announced that HMRC has withdrawn their VCT status. This has been done because one of the Venture Capital Trust rules is that no more than 15% of a fund can be invested in one company. Both these companies have a holding in Scancell, an AIM listed company, and the share price of Scancell rose rapidly so that the rule was inadvertently breached in October 2013 which the company reported ...

EGM Requisition at Leaf Clean Energy

Leaf Clean Energy (LEAF) is an investment trust that specialises in “renewable energy and sustainable technology”. It raised $386 million in 2007 but subsequently bought back some of its...

Remuneration Policies and Baronsmead VCT 3

The new Enterprise Regulatory Reform Act requires public companies to take a vote on Remuneration Policy, i.e. a forwarded looking binding vote for the next three years, as opposed to the non-binding retrospective one on the Remuneration Report with which we are all familiar. The latter will still be present, and investors might worry that the former will be a long-winded and tedious document that they will need to plough through (rather like the multi-page Remuneration Reports from large companies). There have ...

ShareSoc Company Seminar – another company added

In addition to the companies previously announced for the ShareSoc seminar on March 26th, we have now added ServicePower Technologies. So the line-up is now: – Pressure Technologies (PRES): Engineering solutions for high...

Crowdfunding rules confirmed

The Financial Conduct Authority (FCA) undertook  a consultation on tighter regulation of  crowdfunding last December. It was clear that technologic innovation to support both debt and equity capital raising via on-line platforms was often unregulated and that as a results investors might be duped into investing in dubious propositions.  The FCA have now covered the results of the consultation and published the detail rules that will apply in future - which are much the same as they consulted on. See www.fca.org.uk/news/firms/ps14-04-crowdfunding ...