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LONDON - Maven Renovar VCT PLC (LSE:MRVC) is calling on shareholders to vote against all resolutions proposed at an upcoming requisitioned general meeting scheduled for August 13, according to a statement released Monday.
The venture capital trust company emphasized that the voting deadline for both the requisitioned general meeting and a separate articles general meeting is August 11, with both meetings set to take place two days later.
The board has unanimously recommended voting against the requisitioned resolutions, a position also supported by independent proxy adviser ISS. The company stated that the requisitioners’ strategy could result in the trust "shrinking to an unsustainable size, increasing costs for shareholders and risking continued volatility of returns."
In its statement, Maven Renovar VCT claimed that shareholders "deserve better performance and better value for money than Amati provided" and expressed concerns that the proposed new directors "are not sufficiently independent and do not have the required experience" to protect shareholder interests.
Robert Legget, a director appointed to the board in June 2025, urged shareholders to review materials on the company’s website and watch a video message from Chair Fiona Wollocombe.
"Over the next seven days, it falls to you, our shareholders, to ensure that your voice is heard, and that control of your company does not slip into the hands of a small minority. Every vote matters," Legget stated in the press release.
The company emphasized the importance of high shareholder participation to ensure the outcome reflects the views of all shareholders rather than those of "a small minority."
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