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Crown vct Annual Report

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
barchid
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Crown vct Annual Report

#342589

Postby barchid » September 24th, 2020, 6:05 pm

Main feature of interest to most of us is the change in dividend policy in line with other Albion vct's already reported so the 1p divi previously paid half yearly is for the 1st interim 0.83p but there is a special (to be paid a month earlier than the regular divi) of 2p. This is to reflect the disposals during the year which we were largely aware of. There is also a special one off offer to opt for DRIS on the special, which is unusual but thoughtful.
In my first read of the report I did not see anything about a new offer for this tax year.

BusyBumbleBee
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Re: Crown vct Annual Report

#342682

Postby BusyBumbleBee » September 25th, 2020, 8:47 am

Well said. Barchid but to clarify their statement about the Special Dris this is what they said

The Company continues to offer a Dividend Reinvestment Scheme ("DRIS")
whereby shareholders can elect to receive dividends in the form of new
shares. For shareholders not currently in the DRIS, the Company is
offering shareholders the option to elect for a one-off sign up to have
this special dividend reinvested into new shares through the DRIS.
Shareholders can take advantage of this by emailing
https://www.globenewswire.com/Tracker?d ... CAV55qHFQN
crownchair@albion.capital before midday on 7 October 2020. To elect for
the reinvestment, please ensure your email contains your full name,
Shareholder Reference Number, telephone number and confirms you have
read the DRIS terms and conditions. As outlined below, the Company has
moved to a variable dividend, calculated as a percentage of the net
asset value, which will, in the near term, reduce the absolute amount of
dividend receivable per ordinary share (previously 2 pence per annum, 1
penny semi-annually). By re-investing the special dividend in the
capital of the Company, shareholders would be expected to broadly
maintain the level of relative income they have been receiving from the
Company under the new variable dividend policy.


kind regards - BBB

IJ49
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Re: Crown vct Annual Report

#342778

Postby IJ49 » September 25th, 2020, 1:35 pm

Just looked at the half year report for AATG and they are also paying a special dividend available for a one off DRIS. Rationale same as set out above.

The dividend policy has also been changed to the same as CRWN, AADV, AAEV and AAVC, but not KAY.

The special is 9p payable on 30/10/20, XD 08/10/20. Interim 1.95p payable 31/12/20, XD 03/12/20.

IJ

BusyBumbleBee
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Re: Crown vct Annual Report

#342847

Postby BusyBumbleBee » September 25th, 2020, 5:35 pm

Have had a bit more time to read the report and was pleased so see this (as will UncleE ;)
Our Articles of Association do not currently allow hybrid or
wholly virtual AGMs, however, as outlined below a resolution is being
proposed to allow this in the future.

In order to maintain shareholder engagement, the Board has decided to
live stream the AGM, which will include a presentation from the Manager,
the formal business of the AGM and the answering of some of the
questions we receive from shareholders in advance of the Meeting.
Registration details for the live stream will be emailed to shareholders
and available at http://www.albion.capital/funds/CRWN prior to the Meeting.

We always welcome questions from our shareholders at the AGM, and this
year we request that shareholders submit their questions to the Board
before the AGM. Shareholders can submit questions up until noon on 25
November 2020 in the following ways:
-- by email: send your questions to crownchair@albion.capital;
and
-- by telephone: contact Shareholder Relations on 020 7601 1850.

Following the Meeting, a summary of responses will be published on the
Manager's website at http://www.albion.capital/funds/CRWN.

Shareholders' views are important, and the Board encourages shareholders
to vote on the resolutions using the proxy form enclosed with this
Annual Report and Financial Statements, or electronically at
http://www.investorcentre.co.uk/eproxy. The Board has carefully considered the
business to be approved at the AGM and recommends shareholders to vote
in favour of all the resolutions being proposed.

Virtual and hybrid Annual General Meetings

The Company's Articles of Association do not currently allow for hybrid
or virtual meetings. The Covid-19 pandemic, and the resulting social
distancing rules, have brought to the Board's attention the importance
of the ability to continue to interact with shareholders during
unprecedented times.

A resolution will be proposed at the upcoming AGM
to update the Articles of Association in order to allow the Company to
have the flexibility to hold hybrid or virtual meetings in the future if
required.


UncleEbenezer
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Re: Crown vct Annual Report

#342865

Postby UncleEbenezer » September 25th, 2020, 6:28 pm

BusyBumbleBee wrote:Have had a bit more time to read the report and was pleased so see this (as will UncleE ;)


Indeed - thanks for posting. I had missed that in a one-minute look at the report.


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