I attended the three Core VCT meetings earlier today, see brief notes below:
There were 10 attendees at the first meeting (Core VCT): two from Pinsent Masons (representing Core Capital), two from Harcus Parker (representing Menzies), Walid Fakhry, Steven Edwards, myself and two other shareholders. Laurence Pagden (Menzies) Chaired the meeting
Regarding the other two shareholders present, one said nothing, the other was a friend of Edwards (or Walid) and he asked a couple of questions. I had decided there was nothing to be gained by asking questions myself, or reacting to questions from others, so I kept quiet throughout the formal part of the proceedings.
Walid and Pinsent Masons asked a number of questions, many of which did not seem appropriate for the meeting and they did not get the answers they were seeking (I will refrain from giving details here until the laywers give the okay)
To my slight surprise Walid and Edwards voted in favour of resolution 1, but unsurprisingly voted against resolution 2. After announcing the results, the meeting was closed and Walid, Edwards, Pinsent Mason and the other two shareholders left the building, so the meetings for Core IV and Core V were attended my just myself, Laurence Pagden and the two representatives from Harcus Parker.
After the meetings I briefed Nigel on the outcome and he has now written up a piece for Shareprophets which includes the results from the voting along with his own commentary, see link:
https://www.shareprophets.com/views/597 ... -in-drovesThe actual numbers are provisional and subject to slight adjustment as not all proxys had been counted, but the overall result would not be effected.
They received over 1,400 proxy forms (an incredible turnout) considering there were only 2700 entries on the registers (with a good number of shareholders holding shares in more than one VCT).
The numbers I scribbled down (approximate and may change slightly) were as follows:
Core VCTResolution 1: ords 17M for, 3M against
Resolution 1: B shares 22M for, 300K against
Resolution 2: ords 17.2M for, 3.5M against
Resolution 2: B shares 1.2M for, 21.5M against
Core 4 VCTResolution 1: ords 4.9M for, 700K against
Resolution 2: ords 4.9M for, 700K against
Core 5 VCTResolution 1: ords 4.2M for, 0.5M against
Resolution 2: ords 4.2M for, 0.5M against