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Risks & Important Information

Risks & Important Information

The contents of this website are a financial promotion and are approved by Seneca Partners Limited of 9 The Parks, Haydock WA12 0JQ

The value of an investment in the Seneca Capital Growth VCT Plc may go down as well as up, in which case an investor may not get back the amount invested. The share prices quoted may not reflect the VCT’s net asset value.

Seneca Growth Capital VCT Plc investments include holdings in private companies which are small and which carry an above-average level of risk to capital and whose shares may not be readily marketable. It also invests in companies quoted on the Alternative Investment Market off the London Stock Exchange “LSE” which is generally for smaller emerging companies and carries a higher level of risk to capital than the main market of the LSE.  The past performance of Seneca Growth Capital VCT Plc is not a guide to the future performance.

The tax reliefs available to certain investors in Seneca Growth Capital VCT Plc are dependent on the VCT maintaining Inland Revenue approval. If this approval is withdrawn, the VCT will lose its status and all tax reliefs are likely to be cancelled. Investors must retain their VCT shares for five years to retain the up-front income tax relief. The tax rules and regulations governing VCTs are subject to change.

An investment in Seneca Growth Capital VCT Plc may not be suitable for all investors. Investors should seek advice from a qualified financial advisor.  Nothing on this website should be construed as investment or tax advice.

Seneca Partners Ltd is authorised and regulated by the Financial Conduct Authority (No. 583361)

Financial Scams

We have been made aware that a number of existing Shareholders and those of other VCTs have been contacted in connection with fraudulent financial scams. In these instances, Shareholders have received unsolicited phone calls from persons claiming to work for a corporate finance firm, offering to buy Shareholder’s VCT shares at an inflated price in connection with a possible take-over of the VCT and asking Shareholders to sign a non-disclosure agreement.

The claims made are false and are invariably an attempt to obtain confidential personal information from Shareholders with a view to fraudulently extracting money from them.

Shareholders are warned to be very suspicious if they receive any similar type of communication and we would recommend that you do not respond with any personal information.

If you are in any doubt, we recommend that you seek professional financial advice before taking any action. You can also call Seneca Partners Limited on 01942 295 981 if you wish to check that any correspondence or communication you receive from the Company is genuine.

Corporate Governance

The UK Corporate Governance Code published by the Financial Reporting Council in July 2018 (the “Code”) applies to the Company. The section in the Code headed “Comply or Explain” acknowledges that in relation to smaller listed companies some of the provisions of the Code will be disproportionate or less relevant and that externally managed investment companies typically have a board structure which may affect the relevance of certain of its provisions. The Board considers that reporting against the principles and recommendations of the 2019 AIC Code will provide better information to shareholders.

You will find more Corporate Governance information on page 50 of the latest Annual Report – available here.