Spark VCT was formerly named Quester VCT. In August 2004, UKSA commenced a campaign to improve the performance and corporate governance of Venture Capital Trusts - see the following web page for more information including a Report and set of Guidelines for the management of such trusts: VCTs. Quester VCT3 breached the guidelines in several respects, particularly in respect of the disclosure of information on the portfolio holdings. It was also one of the worst performing VCTs in terms of total return since formation.

Although that company was subsequently merged with two other similar Quester VCTs, and thereafter renamed Spark VCT (the former Quester fund management business was acquired by Spark Ventures), which reduced some of the overhead costs, the performance of the portfolio did not substantially improve.

In June 2008 at the AGM an unusual event occurred in that shareholders voted down the proposal to pay a dividend on a show of hands, and likewise voted down the re-election of two directors. All resolutions were subsequently passed on a poll however. See Quester_AGM_Report for a full explanation. Note that at the EGM to approve the new management fee arrangements held a couple of weeks later, the show of hands vote was won by 2 votes to 1, but the proxy counts were 9.3m votes for, versus 3.2m against (i.e. 26% opposed).

In late 2008 UKSA again looked at what should be done to try and restore the value of shareholders investments and in March 2009, this letter was sent to shareholders: Spark_Letter. A more detailed explanation of the problems facing the company is in this note: SparkVCT_Note .

We are asking for donations to support the cost of this campaign and a donation form is present in this pdf document: Spark_Donation_Form . If you prefer to pay on-line via credit or debit card, you can do so from this web page:  Donation- Wpay

Some of the past material we have issued in relation to this company is covered in: VCT_Mailshot_Response_Letter, QuesterVCT3_Note, and Quester_Letter.

Comments on 2008 Annual Report and AGM Meeting: The following note was subsequently issued concerning the latest Annual Report & Accounts, and the forthcoming Annual General Meeting: Update_1. After that meeting, this note was issued: Update_2

Interim Report and Other News. This note was issued concerning the half-year report from the company and its general position on the 18th September 2009: Update_3

Vote 'NO' on the continuation vote. This note was issued following Spark's 2009 annual results: Update_4

Letter and email to shareholders. This note was issued 26 April 2010: Update_5

Annual General Meeting: Continuation Vote update.  This note was issued 14 May 2010: Update 6

If you wish to contact the Spark Shareholders Action Group please email: spark@uksa.org.uk  , or telephone 020 8468 1027 or write to Spark Shareholders Action Group, Chislehurst Business Centre, 1 Bromley Lane, Chislehurst, BR7 6LH.