Albion VCTs requests to convene General Meetings of the 3 Albion VCTs.

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 ...

UPDATE 21 MAY 2026] Curioser and Curioser....... Are the followng events connected: Elliptic "raises" $120m Series D - completed 12 May 2026 - at $670m value. OTV2's lead Investment Manager, Zihou Xu, resigns as a Director on 1st May 2026 16 March 2026 OTV2 announces post yearend sale of "majority" of one of its investments for £21m without naming the entity. Looks to me as though the $120m is the usual Authorised Investment Manager scam of not beng new money for the venture but is full of Puff and Hot Air and includes share sales by existing investors. Does at least validate, more or less, the uplifted valuation but only questions at the AGM will get to the truth.  As for 15% of Elliptic being valued at a mere £1.59 in total - HMRC are going to enjoy that one..Income Tax at 45% on £50+m? ............................................................................................................................................. UPDATE 24 FEBRUARY 2026 Following ...

Quantexa adds nearly 15% to ARR with one new customer on a 10 year deal. https://www.bbc.co.uk/news/articles/c7v9ld262n4o I wonder if it would have picked up Albion Capital Group's Income Tax fraud and evasion on the backdated filings of new LLP members to evade Employer NICs? Perhaps Ed Lascelles knows as he is a Director of Quantexa and Member of Albion..

[UPDATE 30 MARCH] The new Chied Executive of the Insolvency Servce seems to have some "cojones" Letter received today: DBT is now to compel ELLIPTIC ENTERPRISES to comply with the law. That makes a change! Will Fraser-Allen to resign with immediate effect? Not a chance - he is one of the most dishonest immoral company directora in the UK today trousering more than £1m pa for adding little value to anything.  Albion and Octpus to resign as VCT Investment Managers in the light of the letter? Fat chance fees, fees, fees and "trebles all round".  All Albion Capital Group llp members to now admit criminal tax evasion, fraud and "cheating the public revenue", and accept suspended prison sentence? We shall see. .................................................................................................................................................... Ben Larkin, Chair of Albion Enterprise VCT plc and the defunct Albion Development VCT plc, went to great le...

Having filed my Witness Statement earlier today, and while we wait for the inevitable nonsense in their reply due in 3 weeks time.... Let me take interested readers to what the liars masquereding as Members of  Albion Capital Group llp and the Directors of the VCTs told shareholders nearly 6 years ago: Page 35 of the Albion Enterprise accounts to 31 March 2020 right next to Albion Capital's signature. ..."we will not" hold virtual or hybrid meetings other than in exceptional circumstances e.g. when a shareholder dares to point out fraud, bribery, false accounting and breaches of fiduciary duty so that we don't have to answer any questions. Is there a single member of Albion or a Director of any of the VCTs who has the courage to admit, even at this late stage, that they lied to shareholders to induce them to approved a half-baked wording which they had no intention of following? The next AGM Notice has to be published within the next 8 weeks. Will they all carry on wi...

 Will Benjamin Michael Larkin , Registered Solicitor no:161022, and whom Chambers advises everyone " heads the London Practice at Jones Day " for restructuring/insolvency, now do the right thing before he resigns as Chairman at the next Albion Enterprise VCT plc AGM in June 2026 and properly oversee that AGM in accordance with the Articles and the requirements of the Companies Act? Don't hold your breath. Do look at the GC100 "Guidance for Virtual Meetings of Shareholders" and see what Messrs Larkin and Fraser-Allen have been upto for the last few years. NB Albion are the only VCTs to have virtual meetings and even those are in breach of the Companies Act just by looking at the Notices alone. See what the VCTs share registrar, Computeshare, says and you will note that all the Albion Directors couldn't care less - that is why they all need to go and go now. https://www.computershare.com/uk/insights/share-registry/how-to-comply-with-virtual-agm-guideline s The...

This is the reason that the Directors refuse to answer questions at the AGM and why they want to deny shareholders an in person AGM. I do of course refer to the scam that is QUANTEXA. https://clcluk.blogspot.com/2026/01/quantexa-ltd-and-british-business-bank.html The simple distilled facts for the sucker Albion VCT shareholders are: 1. The Albion VCT Directors knew the Series F shares had not been issued nor paid for. 2. The Albion VCT Directors knew about the warranties given by Quantexa as to its financial position and that those warranties had not been met before the prospectus and VCT September statements were issued 2. The Albion VCT Directors knew the deal was to only issue 40% of the shares in March 2025 and then issue and pay for the remanider only after the next shareholder disclosures deadline 3 weeks before the Quantexa 2026 y/e with a price calculated on what turns out to have been a dreadful year for Quantexa with Breach of Contract claims and a total £8.4m write-off of th...

Having refused to answer any and all questions about the investment at the recent AGM's, Messrs Reeve and Fraser-Allen seem to have quietly written off £5m  (almost the entire equity investment value) in the Radnor House school in Sevenoaks - the only explanation being "changes in UK taxation" - just before the Prospectus was issued AND written off another  <10% of June 2025 carrying value since then. The only things left are secured loans totalling almost £10m with the security Trustee being the defunct Albion Development VCT plc. Time to remortgage and get rid of this dog? Even though it is stated the interest rates are upto 9.8% - it is  hardly a "qualifying asset" as any normal person would understand the VCT phrase. NB Gerald Eve valued the property at £32m in 2023 so that's all right then. Is the interest actually being paid?  School numbers now reported at 519 against 750 capacity ( https://get-information-schools.service.gov.uk/Establishments/Est...

 " The Albion VCTs are not required to register with or pay an annual charge to the Information Commissioner as they only  undertake  exempt processing" Anyone care to read the list of exemptions and express an opinion? https://ico.org.uk/for-organisations/uk-gdpr-guidance-and-resources/exemptions/a-guide-to-the-data-protection-exemptions/ Is Will Fraser-Allen really arguing that it is a matter of National Security that "his" VCTs are exempt from UKGDPR?  Poor cannon-fodder shareholders - stuffed again.

This is why Investment Managers annual and performance fees need to be scrapped for a "cost plus" until profits are realised: let us hope the Chancellor agrees. QUANTEXA offers an interesting insight for arguments to be put to The Chancellor in her requested "consultation". First off - well done Albion for spotting the opportunity - the only VCT that did, even with the bribery,  fraud and corporate failings in which they later indulged. (NB. AUDITORS AND "VALUERS" TO ALL PARTIES: BDO llp !) Total Cash Invested across all Albion VCTs (2017-2020):                                                       £10,075k  Annual fees paid (based on AADV 2.5% plus 20%) before any realised profit:                    £4,536k Performance fees paid in 2018 and 2020: £520k + £465k ...

On Friday 7th November 2025 Howard Kennedy llp filed a single application in the High Court [Ref: CR-2025-007855] on behalf of the 3 remaining Albion VCTs to prevent the Members being ciruclarised to vote on the Articles being amended to correct present faulty Directors retirement provisions, and most importantly to continue their malpractice of preventing Members participating in General Meetings as required by the law. Anyone going to the 18th November shareholder "seminar"? Do contact me for copy flyers. ............................................................................................................................ [UPDATE 27 NOVEMBER - COPY DOCUMENT LINKS NOW PROVIDED] copy documents and legal arguments will be URL linked here when Court sealed copies have been served and my acknowledgment of service filed].  Claim:     https://app.box.com/s/dlvnbadudi8lnij4rw42agmtmdcbxq2n Acknowledgment of Service:  https://app.box.com/s/c568xncyh80uwy79qjv0u29...

After the recent High Court hearings, the issuance of a new "Top-up" Prospectus and the disgraceful misconduct of Ben Larkin, a Registered Solicitor and the Chair of AAEV at that Company's recent AGM, I have "resubmitted" my requests to convene General Meetings of the 3 Albion VCTs. The signed originals have been delivered by hand to 1 Benjamin Street.at 11.00am today.  The cases for Merger of the 3 remaining Trusts into one , and proposed amendments to the Articles of Association to prevent others ever again repeatiing Ben Larkin's gross misconduct, are now irrefutable.  The evidence supporting the proposed resolutions will be set out in the Letter to Members with URL links to source documents, and will be published and circulated even if application is made to the High Court to prevent shareholders being made formally aware of the misconduct of their recalcitrant Directors and Officers, individually and collectively and without exception, and to stop their...

[UPDATE 18 September] The Albion website now contains links to the AAEV AGM recording (YouTube) and the presentation slides. The Chairman confirmed questions were received before the AGM as he and his colleagues had requested.  Mine were neither put to the meeting nor answered, nor were the properly made Points of Order and request for Adjournment. Those questions and requests are now available under terms of qualified privilege for AGMs at:     https://app.box.com/s/1uy3dablcgtvwfnned1m6ylehnqxduvc Readers attention is drawn to the admissions in the recording that Albion is now set on Annual fund raising further confirming the PONZI schemes being run by it and the VCT Directors. Will Fraser-Allen confirmed the falsity and scam of the QUANTEXA Series F "funds raised". Neither he nor the Chairman addressed the ZERO priced warrants that dilute Albion's valuation by £50,000,000. I wonder what hasty action is being taken by the Albion Crown Directors ahead of it's forthc...

  https://garymarcus.substack.com/p/llms-coding-agents-security-nightmare If they can't even get their real world data and Company Law Compliance obligations in order, one has to wonder what is going on under the skin. Do read the article in its entirety and really worry about the entire UK sector - even (or particularly) when populated by ex MI5 and MI6 spooks as advisors who lie through their teeth about the amount raised in the latest Series F round.

As I analyse the "investments" held by AAEV ahead of its AGM to be held on 10 September it is clear that there are some serious questions to be answered... Just taking the aggregate of the 3 VCTs holdings of AAEV's audited "big 5" that account for nearly 50% of all its investments and - all amounts as at 31 March 2025 per Albion websites 1. Quantexa                     £ 126,343,000              AI Compliance (!) systems 2.  Proveca                      £ 41,348,000                 Neurology and Cardiology drugs for children 3. Oviva AG                    £ 23,504,000                 Digital health platform for diabietes/weightloss drugs 4. Gravitee Topco            £ 27,4...

The amount involved? £6,465,000   Once more demonstrating why Company Law Compliance is vital to prevent outright fraud. And all because Quantexa is a "right bugger's muddle" that can't even update its website to comply with the law despite endless prompts and reminders - just who are the Directors? Those declared at Companies House or the myths promulgated by Vishal Marria on his website? The AAEV accounting problem arises entirely from the different valuations used by the 3 VCTs managed by Albion Capital Group llp and the admitted congenital/pathological liars Will Fraser-Allen and Patrick Reeve (Chair of the Valuation committee), let alone the personal liability of Vikash Hansrani the other Designated Member and his endless lies to Companies House for Albion and the VCTs. Just analyse the values stated in the 3 VCTs in their RNS statements for September and December 2024 and March 2025 NAVs against the shareholdings shown in the "corrected" confirmation s...

Interesting points raised in Will Fraser-Allen's latest, and only 2 weeks old, plea to Government "please protect us from being wound-up" from his and Patrcik Reeve's favourite trade association https://www.vcta.org.uk/_files/ugd/ed7722_4639fce60492463a966d5ddfc161cbc0.pdf Remind me: how does a PONZI scheme work? Raise money to pay out prior investor obligations. With EIS and BEIS it is now time to close down all VCTs and transfer their holdings to non-dividend paying (except from realised profits) entities. .............................................................................................................................. Today's letter to Lord Clarke of Nottingham, Honorary President of the VCTA.  The Rt Hon. the Lord Clarke of Nottingham CH KC House of Lords,  London SW1A 0PW and  Honorary President, Venture Capital Trust Association Dear Lord Clarke, Fraud, false accounting, Perjury and Breaches of Companies Act 2006 by the members of...