Introduction and Strategy
Twenty shareholders across the Ventus 1 and Ventus 2 VCTs (together called Ventus), who hold approximately 10 percent of the shares, have requested that resolutions be put at the Annual General Meeting (to be held before the end of August 2019) to replace the existing directors with new directors, whom they believe are better qualified to lead the funds and provide a fresh perspective.
The decision to take this action has come after discussions with the existing directors, which have not adequately addressed shareholder concerns.
The resolutions require a simple 50% majority of those votes cast. Your vote therefore does count and the future strategic direction of the fund will impact the value of your shares.
Whilst the positive yields and total returns are recognised, it is believed that a greater proportion of the income generated from investee companies should be returned to shareholders. There is no suggestion of impropriety or wrong doing on behalf of the existing directors or Temporis in any aspect of the management of the funds. There are, however, in the opinion of these shareholders, significant areas of concern that warrant shareholder action and a more pro-active management approach.