Alibion Enterprise VCT plc AGM. "Wriggle and squirm" par excellence. Silly and false explanations proved my points ... Next stop 17 September 2024 AGM of another Albion VCT for further explanations..

 In past years the video of the AGM has been made available on Albion's website together with slide presentations.... will the same happen this year? 

I do hope so and that you can then see the slide about the new information on the Quantexa "sale" that Albion later said was after they had touted sale of Quantexa shares around to all and sundry before having to sell it to "their" fund; as well as hear the verbal explanations of why it wasn't a related party transaction. The next AGM's (17 September and 24 November) will hopefully elicit some more of what actually went on and explain the lies in Quantexa's accounts and Albion's Press Release that "Albion" had participated in the Series E which was later orally denied at the 2023 AGM. 

1.  Question: Why does Albion Capital Group llp always file accounts at Companies House for all its managed VCTs before the accounts have been received/reviewed/adopted by shareholders at the AGMs? The accounts for this company were filed with The Registrar on 12th August 2024 - 3 weeks before the AGM when the shareholders will have the only opportunity to discuss them before receiving/adopting them.

Answer; Because of filing deadlines with Companies House.

TOTALLY FALSE.    There is a 6 month period before filing. All AGMs are well within the 6 month window. Why even pretend shareholders have any say?

2. Question: Why does the Directors Report (page 27) state that the combined “Albion VCTs” have only a 8.5% interest in the Voting Rights of Quantexa Ltd when the true figure is 9.5%? (see attached). Why did the Directors not disclose that a further 2.6% is owned by the Chairman and other members of Albion Capital Group llp in non-traded entities managed by them?

Answer:  "Typo" and that the true number is the "fully diluted" figure. Anyone got an abacus? 

Shares in issue: 1,768,698.   Options Outstanding: EMI scheme 91,456  Non-vested unapproved: 51,828. 

THE DIRECTORS ARE STILL CONSIDERING MERGING THE VCTs.

Hmmm. Unanswered Question: Why propose using Insolvency Act that is for demergers and not Companies Act?