Proposed Nominations for Directors of the Albion VCTs to be proposed and voted on at the 2025 AGMs

To the shareholders of the 3 remaining Albion Venture Capital Trusts

Initial request for support for the nomination of new Directors at the 2025 AGMs

The last 2 years, and in particular the very recent events surrounding the Merger of the 6 Albion VCTs into 3, have revealed a catalogue of fraud, false accounting, misrepresentation, and decades of deliberate and grossly negligent regulatory failures, breach of contract and other unlawful actions by Albion Capital Group llp and its individual members all of which have been overseen by the present Directors.

It is now time to hold the Albion individuals to account, to secure recompense for the past frauds, and to appoint competent individuals as Directors to hold Albion, or any substitute Investment Manager, to account for their repeated and continuing Breaches of Contract and endless backdating of documents to Evade liabilities to HMRC.

The Companies Act and the Articles of the VCTs provide that any 100 shareholders who have subscribed an average of £100 for their shares may propose the nomination of any person to be a Director of the companies. The sole restriction being that the proposal must be made not more than 42 days and not less than 7 days before the AGM.

Baillie Gifford have recently told me in the recent SABA affair that once Notice convening the Meeting has been issued then no new resolutions may be proposed. That is not true but is aimed at scaring off any and all active investors.

Albion have been never given advance notice of the dates of AGMs and most frequently give notice in excess of the 42 day limit in an attempt to disenfranchise shareholders.

The format of the AGM must be changed from entirely Virtual to Hybrid.