High Court of Justice - 12 December 2024 at 10.30 hrs Open Court. [EDITED: 13 DECEMBER 2024]



EDIT : 13 December. The hearing was resolved with an agreed order for disposal following the meetings of members held on 11 December in which the Members approved the Directors proposed amendements to the Management Agreements (a fee reduction of more than £3,000,000 pa) that included continuation of Albion Capital Group as Company Secretary presumably after considering the matters for which I sought the Register of Members and refused to remove Albion as Company Secretary. 

The members voted to accept the Directors proposals without any disclosure having been made to them of the Directors and Albion's continued and continuing failures to comply with the Listing Rules and other breaches of the Companies Act.

That matter now moves to other forums together with continuing demands to hold the Directors and Albion to account and make restitution for the, I say, now proven beyond reasonable doubt, unremedied Quantexa share dealing fraud. It may be appropriate to consider a Shareholder derivatrive action once the views and acts of the Liquidators are known and made public.

I remain a member of all 6 VCTs, including those to which a liquidator is to be appointed next week. 

The 2nd Witness Statement of Patrick Reeve was therefore not read or referred to in open Court and is therefore not included in the Documents that are public, or are my own work product which includes my 2nd and 3rd Witness Statements.

All documents can now be freely accessed at https://app.box.com/s/bg3q2jv2v0tlv90hymwl76zbuikkiktb




Comments

Post a Comment

Popular posts from this blog

"A call to arms" to all members of Albion Enterprise VCT plc. Help prevent High Court blocking you meeting to expose Albion Capital Group's systemic FRAUD, self dealing and gross negligence.

Image
I am a member of all 6 of Albion's LSE Listed VCTs and have discovered major fraud involving self dealing in the shares of one of the investments spread across 5 of the VCTs and 2 of Albion's non-listed funds. In accordance with s116 Companies Act 2006 I formally requested a copy of the Register of Members of Albion Enterprise VCT plc (AAEV), where Patrick Reeve, the Chairman of the Investment Manager Albion Capital Group llp, is also a Director. My request stated: Patrick Reeve applied to the High Court for a non-disclosure order of the register to ANY and all members of AAEV . Paragraph 2 says it all. The High Court immediately listed the matter for a directions hearing on 4 November. Yesterday Reeve asked the Court for the hearing to be cancelled and not relisted before :           the in-person Seminar of Meeting of invited members of all the VCTs on 20 November  AND the same day             "Growth Investor" Ga...
Read more

How will Albion explain this at the Seminar on 20 Nov?

Image
A bit of light reading for Sunday. Just copy and enlarge the embedded image. ........then run the ratios and you will see that not only are Albion in total breach of the restrictive Objects of the VCTs without even applying the full £733.70 per share value that the Albion website says is the true value for everyone (and which they paid in April 2023), then HMRC are probably already knocking on the doors. No wonder there was panic in the summer when they realised they had no choice but to "sell" Quantexa shares.- and before the December year ends of 2 of the VCTs.  BDO were told to agree to the fudge and lies on the Quantexa balance sheet Note 26, but they still lost the VCT audits - can we rely on ICAEW's investigation into BDO that they confirmed yesterday is now back on track and escalated to the next level? Coincidence - hmmm. But how will PHR and WTF explain the different percentages for the 4 out of 5 selling VCTs? Did the Directors really approve those numbers indep...
Read more

Anyone else going to make submissions to the useless FCA after today's invite? WIll they finally stop Richard Seewald and Evolution Equity Partners lying when telling the SEC and the world that it is regulated by the FCA?

https://www.fca.org.uk/news/press-releases/fca-seeks-further-views-enforcement-transparency-proposals I wonder what they will make of Albion's continuing failure to comply with requirements of the Listing Rules despite being told time and time again what they have to do? Pride comes before a fall. Did you know that 75% of Albion's investments have serious Company Law Compliance failures within the last 5 years? Not least when Richard Seewald sits on the Board of Directors. Mind you .... it is interesting to look at the other Listed Venture Capital Funds and the dire record of their and their investments compliance status. Comments on the false statements at the CRWN AGM, and the answers to questions, await the provision of the recording on Albion's website - it only lasted 40 minutes but the Chairman said he was restricting the number of questions due to time constraints! Seems to me that the FCA has to stop the abuse by management of virtual meetings to stifle shareholder ...
Read more