Let the Countdowns begin ...[updates 18, 19, 20 August and 8, 13 and 17 September] this is just the Albion matters - Octopus has it's own blog
FIRSTLY
Only 5 weeks until the Albion Enterprise AGM - 15.09.26 - Virtual only at 12.00 noon and, usually, the latest investment valuations and yet more fictitious explanations about fund raising by Will Fraser-Allen and his fellow Albion members. Will HMRC have completed their investigations by then?
I wonder if Ben Larkin, Chairman and a senior partner of Jones Day, will obey the provisions of the Companies Act about shareholder questions? If so it will be a first for him in this role - and he heads up the Court case to prevent shareholder communication about non-virtual AGMs and the solicitation of a vote to Merge the remaining 3 VCTs that will save more than £5m in fees per annum and might actually get combined NAV to rise for the first time in more than a decade (after allowing for all the new share issues and dividends paid out of capital)
Anyone else noticed from the accounts what the corrupt egregious Members of the newly renamed AlbionVC llp has slipped under shareholder noses in relation to their fees? Ben Larkin and his colleagues just rubber stamped it.
SECONDLY update 18 August - RNS states: prospectus published (but still not made available to anyone! Why? And now at 20.14hrs the document is password protected! - is there a single member of AlbionVC llp who is honest/diligent/knows their backside from their elbow?) update 19 August: and lo it has finally come to pass - using 31 March numbers just before mandatory announcement of 30 June figures a few days after "offers open on 7 September"! ... https://albion.vc/vct/offers/#offer-documents
UPDATE 20 August 2026. Now we have further concrete proof that not only is William Fraser-Allen ("WTF" is his FCA "handle") a congential liar, but he has put his name to a knowingly false RNS statement with the intention of misleading shareholders. Try reconciling the filing dates/times of the FCA's NSM records with WTF's statement 3 days ago.
WTF has falsified Companies House records for decades, filed false statements to evade Employer NIC liability and this latest must surely be the final "Nail in His Coffin" as an Authorised person by the FCA, a Director of the Association of Investment Companies (https://www.theaic.co.uk/aic/people/will-fraser-allen) and a Chartered Accountant. It ought to also herald the final demise of AlbionVC llp as being completely unfit to act as Investment Adviser to even a cat's home, and sanctions should be levied against each and every member of the LLP for their offences of aiding, abetting counselling and procuring criminal acts by WTF.
Less than 20 days before we see the publication of the latest "fees, fees, fees for all and sundry" Ponzi Scheme prospectus
THIRDLY
End November 2026 Crown C share conversion based on 30.06.26 NAV
FOURTHLY
03.12.26 - High Court hearing.
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Anyone care to run a book on when the Liquidators of the 3 old merged Albion companies will come clean on their fees? Will a firm of Chartered Accountants ever tell the truth and/or comply with the laws of the UK?
The Directors of the VCTs knowingly misled the members of the VCTs just to line the pockets of their fellow professionals and the members of AlbionVC llp..
Ben Larkin and the other directors all now refuse to disclose the extent of the gravy train and disclose the amounts that the liquidators refuse to disclose in breach of every Insolvency disclosure rule - c'est la vie for anyone dealing with UK investments ...
... given the admitted outright corruption within the newly renamed Department for Business, Innovation, Science and Trade and it's proven corrupt Insolvency Service Agency (or should that be Department for "Bribery, Incompetence, Scams and Treason" in the light of British Business Bank's grubby dealings, false disclosures and promotion of a scammer, to whom they have thrown £gazillions, in his SEC filings that he is regulated by the Bank of England and the FCA when the BBB knows he is not and is a pathological liar (oh and don't forget outright fraudulent Income Tax evasion and false accounting in the case of Octopus and Albion VCT investments in Elliptic Enterprises now sponsored by BBB)
UPDATE 8 SEPTEMBER
ANYONE ELSE SEEN ALL THE BROUHAHA ABOUT THE MISUSE OF VIRTUAL AGMS AFTER THE CORRUPT DTI'S PUBLICATION OF A CONSULTATION?
https://www.gov.uk/government/consultations/modernising-corporate-reporting
WILL BEN LARKIN, A SENIOR PARTNER OF JONES DAY, HAVE THE COURAGE TO RUN NEXT WEEK'S AGM IN ACCORDANCE WITH THE LAW? IT WOULD BE A FIRST FOR HIM AND ALL OTHER ALBION VCT CHAIRS.
QUESTIONS FOR THE AGM WILL BE POSTED HERE ON SUNDAY 13 SEPTEMBER. WILL BEN DARE TO PUT THEM TO THE MEETING? WILL ANY OTHER SHAREHOLDERS SEE THEM AS THE LAW REQUIRES BEFORE HE REJECTS/SUMMARISES/IGNORES THEM? WILL HE REMAIN A REGISTERED SOLICITOR?
IN THE MEANTIME ANYONE WHO CARES ABOUT DATA PROTECTION SHOULD ASK BEN WHY HE IS NOW AND HAS BEEN FOR YEARS PERSONALLY AND CRIMINALLY LAIBLE FOR THE FINES FOR FAILING TO REGISTER AND PAY FEES TO THE INFORMATION COMMISSIONER'S OFFICE. (just do a search on their database for proof)
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UPDATE 13 SEPTEMBER
So here are the questions asked by email to AAEVchair@albion.vc (any support from other members to that email please) before the meeting (points of order are not included) and some will arise from WTF's presentation - not least around his blatant lies on the AlbionVC website about the quantum of funds raised by Elliptic Enterprises which includes so much double-counting as to be a farce:
QUESTIONS:
RESOLUTION 1.
On page 34 you state that the valuation of the investments in Quantexa included in the accounts is £54,065,000 and that the combined interest of all “Albion managed funds” is 11%.
In light of (i) the recent confirmation that Warburg Pincus which holds a similar near 10% interest has decided to abandon its holdings and instructed Citi to organise an auction to dispose of the investments and (ii) the failure of Quantexa to publicly announce its results that would seem to imply continued year-on-year reduction in growth,
DO YOU CONSIDER THAT THE VALUATION IS STILL APPROPRIATE AND PROPERLY TO BE USED TO DETERMINE THE INVESTMENT MANAGERS FEES?
Please give your reasons as it seems likely that the investment is worth considerably less.
On page 49 you state that the company is in compliance with “key laws” when you know, and knew at the time that statement to be false.
The “privacy” notice on AlbionVC’s website (the company not having its own website) was updated in May and July 2026 and states that it believes that the company is and always has been a data controller, and as such has at all times been required to register with, and pay fees to, the Information Commissioner’s Office.
The ICO records show that the company has never so registered
WHY HAVE YOU NOT TAKEN STEPS TO REGISTER AND WILL THE DIRECTORS (i) UNDERTAKE TO IMMEDIATELY RECTIFY THE FAILURE TO REGISTER and
(ii) CONFIRM THAT THEY WILL PERSONALLY PAY ANY AND ALL FEES, FINES AND LEGAL EXPENSES THAT MAY BE INCURRED?
RESOLUTION 4
Please explain why the company is not registered with The Information Commissioner's Office, and why in the light of that omission, you – a senior Registered Solicitor - believe that you are a fit and proper person to be a Director of the company when you are criminally liable for that omission and resulting fines?
RESOLUTION 8
If Mr Whitlock has neither unconditionally tendered his resignation before the meeting nor seeks re-election as the chosen Director retiring by rotation would he personally please explain why he is a fit and proper person to continue be a Director in the light of:
His undeclared relationship with AlbionVC which has provided him with Registered Office and business address and trading facilities since 2022;
His failure to verify and ensure that the company failed to comply for nearly a decade with its reporting obligations to Companies House relating to Resolutions passed at previous AGMs and Copies of the Articles of Association?
His personal failure to ensure that the company is registered with the Information Commissioners Office and
The fact that he is a Chartered Accountant and holds himself out to be a regulatory and compliance expert and is a member of the ICAEW’s “Audit and Assurance Faculty Board” upon whom clients and members of the public, and particularly the members of this company can rely (see ICAEW website https://www.icaew.com/technical/audit-and-assurance/faculty-resources/faculty-board-members
- for anyone interested in the revalations about the outright charlatan Rhodri Whitlock, just check the records at Companies House and his endless spiel at ICAEW "learning" videos and conferences. He really does prove that the entire Investment Trust sector needs to stop lying to the regulators that they have no executive directors - all are beholden to trade associations to which members of the Investment Managers alone are appointed and who then set the "standards" to mark their own homework (aka egregious and wholly unwarranted and unmerited fees). What a scam.
PRELIMINARY POINTS OF ORDER: (see above)
In the light of your prior statements that the company will not consider either hybrid or in person meetings solely on the grounds of cost, and of the Government’s current consultation on virtual meetings, please would you tell the meeting how many shareholders, excluding the Directors, are present in person or on-line at the start of the meeting?
In order to comply with the direct and binding instructions of the members of the company as set out in Articles 69 to 73 inclusive, will you withdraw Resolutions 4 and 7 because you and Lord O’Shaughnessy were properly re-elected at the last AGM having been appointed between the 2024 and 2025 meetings and cannot be selected for retirement at this meeting?
One, and no more than one, of the other three Directors, must retire by rotation. Will the Board determine which of the three is to retire and then will you withdraw the relevant two resolutions so that those persons remain in office as directed by the members which is binding on you?
If you will not withdraw the resolutions will you please adjourn the meeting because your reasons given on page 53 (Re-Election of Directors) that you are entitled to ignore the provisions of the Articles merely because a trade association has made a recommendation, are unsustainable in and contrary to law? Please note that other VCTs have asked for shareholder approval to change the Articles to suit the trade association recommendations OR have complied with the Articles and noted and given explanations why the shareholders do not wish to adopt the recommendation.
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