Results: EDGH

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EPIC EDGH
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Edge Performance VCT – Final Shoot-Out At the OK Corral Today, 10.30am

Today Edge Performance VCT (EDGH) finally holds its reconvened AGM from last August, and a separate General Meeting to decide whether to sack the Board and replace it with a new one intent on liquidating the portfolio or not. In the rebel corner sits ShareSoc with the strong support of SHareProphets, a former director who stepped down on the announcement that the now defunct I-Class shares would be paid off from the sale of an asset owned by the H-class shareholders whilst the H-shares got nothing, a proposed new director and, of course, a stack of H- and former I-class shareholders who requisitioned the meeting.

EPIC EDGH
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Edge Performance VCT – Fund Manager David Glick Hits Back Over “Untrue And Deliberate Disinformation” About Sir Peter Bazalgette

An email from David Glick, the founder of Edge Performance VCT (EDGH) and the founder and CEO of the VCT’s investment manager, noting untrue and deliberate disinformation about Sir Peter Bazalgette, a so-far unelected by the VCT’s shareholders director of Edge Performance VCT and Chairman of FTSE100 stalwart ITV (ITV) has turned up at ShareProphets Towers in the run-up to Edge’s reconvened (from August!) AGM and the sack-the-board EGM to be run the same day, 17th January 2022. He is not pleased!

EPIC EDGH
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ShareSoc gives Edge VCT both barrels in letter to the FCA

Those guys at ShareSoc are so far ahead of the curve are they not?  Look at the date on a letter sent to the FCA today regarding the disgraceful goings on at Edge VCT.  Prescient or what? Anyhow we see eye to eye with ShareSoc on this matter and urge the FCA to stop jerking off on ESG porn and to intervene.  The letter follows below. 

 

EPIC EDGH
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Edge Performance VCT – Broken Promises, Shareholders Denied….Is This What the FCA Wants?

It was always coming: fully-listed Edge Performance VCT (EDGH and EDGI) has now confirmed that its re-convened AGM – which was adjourned with no business having been covered way back on 31 August 2021 – is going to take place on Monday 17th January 2022. If that is “as soon as possible” after 31 August 2021 then I am a banana. It was also announced that there will be an EGM as requisitioned (for the second time) to put alternative proposals to shareholders, including sacking the entire Board and placing the outfit into liquidation. But the poor old I-shareholders, who were promised that the entire Board would stand for re-election during 2021, yet not one of them has stood during 2021 – are set for the scrap heap ahead of the meeting. The cowardly Board has elected to disenfranchise them.

EPIC EDGH
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Edge Performance VCT – Is This The Longest Corporate Suicide Note In History?

In response to the second sack-the-board EGM requisition as detailed HERE the Board of Edge Performance VCT (EDGH and EDGI) has issued a letter to its H-share holders. The arrogance is breath-taking but the ShareProphets RNS Translation Service wonders if it is the longest corporate suicide note in history. The statement reads (in bold, with the ShareProphets RNS Translation in normal type):

EPIC EDGH
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Edge Performance VCT – Now A Corporate Governance Scandal Brews For H-Shareholders

I have commented extensively on the winding down of the I-shares at Edge Performance VCT (EDGI) amid what is surely a scandal of corporate governance. But what of the H-shares (EDGH), following the disposal of approximately 90% of the holding in Unity Software Inc for £10.9 million in cash, a 20 times return according to the company for an investment carried in the books at just £1.2 million, as announced on Thursday 18 November?

EPIC EDGH
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ShareSoc asks FRC to intervene at the corporate governance disaster that is Edge - full letter below

Now that ShareSoc is no long run by he who cannot be named it is, on occassion, sounding almost half sensible. Like my colleague Nigel Somerville, it has been sticking it to the disgraced Edge VCT (EDGI) and in that vein Cliff Weight has written to the Financial Reporting Council, FRC, asking it to intervene. It would not be the first regulator I'd think of in such circumstances but it all helps and Cliff pulls no punches in his letter which is below.  

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