Monday 10th January 2022, 6pm – 9.30pm
Edge – What to do when the directors won’t listen? How to complain and make change happen.
Richard Roth, Robin Goodfellow and Cliff Weight will fill us in on the latest ShareSoc Campaign; EDGE VCT and why shareholders should vote to remove the current Edge directors and return the funds to shareholders.
Robin, Cliff and Richard will share their knowledge on how the Directors have refused to listen to shareholders and not acted in the best interests of shareholders. The session will look at the underperforming VCT, the high fees, the directors performance and lack of independence. Recent sales of investments mean it is now best to close the VCT and return the funds to shareholders.
The lessons from Edge are applicable to many other companies:
How to communicate with other shareholders?
Problems with nominee account holders?
Few VCT shareholders vote. How to deal with this issue?
What happens if we win?
Cliff is ShareSoc Director, Policy and Campaigns. He has been investing since 1984. He was a remuneration consultant for 30 years- he retired 6 years ago.
Richard Roth and Robin Goodfellow have, for the last seven years, been directors of cost efficient small VCTs, with low management fees and a track record of returning funds to shareholders after profitable exits.
Robin was on the Board of EPVCT (Edge Performance VCT) for 15 months, following a successful ShareSoc Campaign; however his effectiveness was limited by the intransigence of the rest of the Board.
The Mello BASH (Buy, Avoid, Sell & Hold)
Kevin began his City career 27 years ago, training as an actuary with a focus on defined benefit pension schemes. In 1997 he moved over to Investment Banking and joined a structured finance team working on complex projects and debt finance for large corporates. During those 27 years of financial markets experience Kevin has been a keen small cap investor looking after his family’s portfolios and trading on both the long and the short side of markets. Kevin is one of the more sceptical member of our panel and likes to see proof that demonstrate management’s claims before investing in a management team.
Mark Simpson has been investing in individual stocks since 2003. Over the last decade Mark has generated a 19% compound annual return following a Value methodology vs a FTSE All-Share Total Return Index that has returned less than 8% over the same period. He has achieved this out-performance by developing a strategy that plays to his unique strengths and overcomes his weaknesses, in particular finding practical ways to overcome behavioural biases. His book Excellent Investing describes this approach and how investors of all types can generate higher and more consistent returns by developing their own strategy that plays to their strengths and overcomes their weaknesses.
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