https://www.investegate.co.uk/hygea-vct-plc--hyg-/gnw/hygea-vct-plc---circular-posted-and-notice-of-g---/20171215144748H6567/
Quite a lot to take in here.
Thanks to eyeball08,Wondergirly,bofh,johnstevens77,Bhoddhisatva, for Donating to support the site
https://www.investegate.co.uk/hygea-vct-plc--hyg-/gnw/hygea-vct-plc---circular-posted-and-notice-of-g---/20171215144748H6567/
.....managed by Seneca.....
How on earth do they think these monickers up?
Vulgaris wrote:.....managed by Seneca.....
How on earth do they think these monickers up? The famous Roman poet and philosopher of that name has been dead these 2000 years or thereabouts https://en.wikipedia.org/wiki/Seneca_the_Younger
scotia wrote:.....managed by Seneca.....
How on earth do they think these monickers up?
They want to show off their classical education - and infer that they are a business with a long pedigree
127tolmers wrote:Resolutions passed to enable Seneca to raise funds for a new B class share. Resolution to sub divide ordinary shares adjourned to 29 Jan as HMRC approval taking longer than expected
Does anyone even invest in VCTs anymore with all the changes?
127tolmers wrote:There will be a new B class of share with a generalist mandate managed by Seneca. The existing ord class will continue to be self managed. Seneca will handle all the admin and as a dowry pay the ord share running costs for 3 years.
scotia wrote:how can that happen? Help!
Kidman wrote:scotia wrote:how can that happen? Help!
Here's my guess.
When the new 'B' shares are issued they cannot receive dividends generated from their funds for a minimum of three years. However, the company as a whole has distributable reserves and because it is one company they can be used to pay both classes of shareholder. The losers are the original Hygea shareholders who are having their distributable reserves replaced in the balance sheet by money that cannot be distributed yet.
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