Shareholders in the first three Murray VCTs, which have recently replaced original manager Murray Johnstone with Close Venture Management, are attempting to unseat directors of these trusts.

Shareholders in the first three Murray VCTs, which have recently replaced original manager Murray Johnstone with Close Venture Management, are attempting to unseat directors of these trusts.


Former Panmure Gordon director Charles Clark is orchestrating these efforts, as he is unhappy with the decision to replace Murray Johnstone as manager just when the performance of the trusts, which had been underwhelming, was starting to recover.

In a letter to fellow shareholders encouraging them to vote in favour of his proposals at the trusts’ forthcoming AGMs, Clark states that the directors should have acted sooner to replace the managers, rather than wait and incur £1.2 million in compensation payments.