Please read this important information before confirming that you have understood the risks associated with Ventus VCT plc and Ventus 2 VCT plc (the Ventus Funds), by scrolling to the tick box at the foot of this section.
The contents of this website have been issued and approved for the purposes of section 21 of the Financial Services and Markets Act 2000 by Temporis Capital Limited, a firm which is authorised and regulated in the UK by the Financial Conduct Authority (FRN 763725).
The information on this website relates to Ventus VCT plc and Ventus 2 VCT plc (the Ventus Funds) which are managed by Temporis Capital Limited (Temporis Capital).
The material on this website is provided for your general information about the Ventus Funds. It does not constitute an offer to sell or the solicitation of an offer to buy any investment. Nor does it constitute the giving of investment advice.
The investment referred to in this website is not suitable for all investors. No information detailed should be construed as advice to you on the suitability or otherwise of this investment, such suitability depending on all the circumstances of the person concerned. The information provided does not constitute investment, legal, tax or other advice nor is it to be relied upon in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.
Temporis Capital has taken all reasonable care to ensure that the facts stated in this website are true and accurate in all material aspects.
Illiquidity and loss of capital
Trading in Venture Capital Trust (VCT) shares is not particularly active and consequently the price that you may be offered when you wish to sell your shares may be less than the price at which you bought the shares. Shares typically trade at a discount to their net asset value.
An investment in a VCT should be regarded as a long term investment.
Tax and VCTs
The information contained on this website in relation to the tax benefits from investing in VCTs is based on existing legislation. Changes in the tax rules or changes in the legislation concerning VCTs and, specifically, qualifying holdings and qualifying trades, may limit future investment opportunities by the Ventus Funds and have an impact on future asset values and level of sustainable dividend.
The tax reliefs available to certain investors depend on the Ventus Funds maintaining HM Revenue & Customs approval. If this approval is withdrawn, the Ventus Funds will lose this status and all tax reliefs are likely to be removed.
Investors must retain their VCT shares for five years to retain the up-front income tax relief.
Past performance and projected dividend yields
Past performance of the VCT shares is no indication of future performance. The net asset value of the Ventus Funds is dependent on the performance of the underlying operational companies in the portfolio. Whilst the Boards have each stated objectives to "to achieve a sustainable level of dividends and to protect and enhance the company’s capital", there can be no guarantee that these objectives will be achieved.
The Ventus Funds, Ventus VCT plc and Ventus 2 VCT plc, were launched in 2005 and 2006 respectively. They are Venture Capital Trusts, managed by Temporis Capital, with full listings on the London Stock Exchange.The Ventus Funds have raised and invested over £50 million in companies which have developed and constructed renewable energy projects in the UK: wind, hydro-electric and land-fill gas. Their investment portfolios were comprised of companies all of which own projects that are operational and generating electricity and revenue.
The Boards of the Ventus Funds have carried out an extensive review of the future of the Funds and have concluded that it is in the best interest of shareholders to dispose of the Funds’ assets and to return net proceeds to shareholders. Each Fund held a general meeting on 19 May 2021 to vote on a resolution for each Fund to sell its assets and discontinue as a venture capital trust. The resolution was passed by the shareholders of each Fund by more than 98% of the vote. The Boards and the Investment Manager worked with Ernst & Young LLP to assess the Funds’ assets and determine a transaction path to deliver the best outcome for shareholders.
Further information about the Directors’ recommendation is set out in the Circular issued on 13 April 2021.
On 23 December 2021, the Boards announced the sale of the Companies assets was completed (other than the sale of one asset which is contingent on the passing of all the resolutions at the General Meetings of the Companies to be held on 2 February 2022). Details of the expected proceeds from the sale are set out in the announcement made by the Companies on 23 December 2021. The expected net proceeds to shareholders from the sale, together with the dividends paid to shareholders in August 2021, materially exceed the indicative net proceeds set out in the circular to shareholders of the Companies dated 13 April 2021.
On 7 January 2022, the Companies issued a Circular with proposals for the winding up of the Companies. The Circular includes Notices of General Meetings to be held on 2 February 2022.