As previously noted, the Maven Renovar VCT has received a requisition from Paul Jourdan, the former manager, to replace the board – see https://www.investegate.co.uk/announcement/rns/maven-renovar-vct-plc–mrv/receipt-of-requisition-request/8955955 .
It seems to have gone very quiet since that announcement. Is the result a foregone conclusion or is there going to be a proxy battle as usually happens in such circumstances?
Here are my comments in case you have not yet voted on the resolutions:
As a long-standing shareholder in the Amati AIM VCTs I welcomed the change of fund manager to Maven because the performance of the Amati AIM VCT has been dire in terms of total return. I hold a number of VCTs (including some Maven ones) and the Amati managed one has been one of the worst in terms of performance. I would have sold my holding long ago if I had not been hampered by originally claiming capital gains rollover relief.
The prospect of Paul Jourdan continuing to be involved in the management of the company does not bode well in my view. We need to support the new board and Maven and let them get on with the job without the distractions of fending off general meeting requisitions.
I and my wife have therefore voted as per the recommendations of the current board.
Roger Lawson (Twitter: https://x.com/RogerWLawson )
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