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

[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 ...