Spark Ventures

No, SPARK Ventures plc recently sold its fund management operations to its former executive directors in a management buy-out (MBO). SPARK Ventures plc continues to hold a portfolio of promising early stage technology companies.

 

Who manages the SPARK portfolio now?

As part of the MBO SPARK Ventures plc entered into a management contract with Spark Venture Management Ltd (the manager) to provide investment management and support services. Essentially the same people look after the portfolio as before but now the role of the non-executive directors is primarily to monitor the performance of the manager.

What was the correspondence about B and C shares about? Do these still have value?
The issuance of B and C shares gave SPARK shareholders the choice as to whether to receive a normal dividend or a capital return in the recent return of £8.2m to shareholders. All the B shares were sold back to the company and all the C shares have now been deferred after receiving the dividend – ie they are now worthless.

There was a lot of correspondence sent to shareholders in the summer of 2009. What was going on?

SPARK called an EGM to approve a change of strategy, a return of cash to shareholders, a management buy-out and the introduction of a new management incentive scheme to replace all existing schemes. A couple of our larger shareholders needed more time to consider the proposals presented and for the independent non-executive directors to obtain better terms. The terms were revised in SPARK Ventures plc’s favour and shareholders ultimately overwhelmingly supported the revised terms as put before the General Meeting on 2 October 2009.

My share certificate refers to NewMedia SPARK. Is this still valid?
Yes, NewMediaSPARK plc changed its name to SPARK Ventures plc in October 2007, a few months after the acquisition of the Quester fund management business which brought a wider investment portfolio into the management of the Group’s investment managers..
Trading in the shares of the Company under the new name of SPARK Ventures plc began on 25 October 2007 with the ticker SPK.L.
Your share certificate is still valid even though it still states NewMedia SPARK plc as the Company name. You do not have to change it.

I have lost my share certificate, what can I do?
Contact our registrars, Capita Registrars of The Registry 34 Beckenham Road, Beckenham, Kent or call their shareholder helpline on 0870 162 3100 (from outside the UK: +44 20 8639 2157 ). They will arrange for a duplicate certificate to be sent to you.

Who do I notify if I have changed my name or address?
You should contact our registrars at the address below although we would recommend using the Capita Portal.
If you have changed address, you should enclose proof of both your old and new address. If your name has changed you should enclose necessary legal documentation (marriage certificate or other). If your shares are held within a nominee account you should notify your sponsor of the amendments
Capita Registrars
Shareholders Services
Northern House
Woodsome Park
Fenay Bridge
Huddersfield
West Yorkshire
HD8 OGA
or fax on +44 (0)1484 601512

How do I check details of my shareholding?
Contact our registrars, Capita Registrars of The Registry, 34 Beckenham Road, Beckenham, Kent or call their shareholder helpline on 0870 162 3100 (from outside the UK: +44 20 8639 2157 ).

What is the Capita Portal?
The Share Portal is an online service enabling you to quickly and easily access and maintain your shareholding online – reducing the need for paperwork and providing 24 hour access for your convenience.
Through the Share Portal you may*:
- Cast your proxy vote online
- Elect to receive shareholder communication electronically
- View your holding balance and indicative share price and valuation
- View transactions on your holding and dividend payments you have received
- Update your address or register a bank mandate instruction to have dividends paid directly to your bank account
- Access information on employee holdings as relevant
- Access a wide range of shareholder information including downloadable forms
- Buy or sell shares in many leading UK companies
Click here for Capita Portal 

 

How is SPARK's share capital made up?
SPARK has an authorised share capital of 950 million ordinary shares of 0.5p nominal value of which 450,000,000 ordinary shares are in issue, with 39.2m shares held by the Company as Treasury shares.

Where can I find a copy of SPARK's Articles of Association?
A copy has been placed in the AIM Rule 26 section available in the Investor Relations section of our website. Click here.

Where can I find details of SPARK's corporate governance procedures?
Details of SPARK's directors are provided in the Board of Directors section on this website. Additionally, details of SPARK's corporate governance procedures and sub committees of the Board are listed in the Corporate Governance document available in the AIM Rule 26 section under Investor Relations. Click here

Where are SPARK's shares traded?
SPARK shares are traded on the London Stock Exchange's Alternative Investment Market (AIM). The ticker symbol for the shares is SPK. SPARK's shares are not traded on any other financial exchanges.

Who is SPARK's broker?
SPARK's broker is Collins Stewart who can be reached on +44 (0)20 7523 8500 .

Where can I obtain a copy of the report and accounts?
You can download a copy from our website at www.sparkventures.com, in the investor relations section under the Reports and presentations, alternatively please request a copy by emailing enquiries@sparkventures.com.

When will your next accounts be published?
SPARK's year end is 31 March and half-year end is 30 September. Typically SPARK will make its annual results announcement in the first two weeks of June and its interim announcement of results for the six months to 30 September in the first two weeks of December.
SPARK usually posts its full Annual Report to shareholders in July or August.

What are the advantages to shareholders of SPARK's share buy-back programme?
By purchasing shares at below net asset value, the net asset value per share for the remaining shareholders will be boosted. In addition, the share buy-back programme boosts the market liquidity of SPARK stock. Furthermore, by increasing the demand for SPARK stock when the share price is below net asset value, the share price should be enhanced.

Can SPARK buy its own shares at all times?
No, SPARK is prohibited by the AIM rules from buying its own shares during closed periods. Closed periods are typically a period of two months before a results announcement or the period from the balance sheet date to the results announcement if this period is shorter than two months. In SPARK'S case, the months of April, May, October and November are usually closed.

What tax advantages does an investor in SPARK receive?
Because SPARK is an investment company we do not believe that investors in SPARK can benefit from enhanced taper relief for capital gains, nor Business Property Relief for inheritance tax. However, because SPARK has considerable capital losses, it is not likely that SPARK will suffer corporation tax on any gains made for the foreseeable future.

What voting rights do shares entitle their holder to?
Each ordinary share entitles its holder to a single vote at any Annual General Meeting if Shareholders or any Extraordinary General Meeting of Shareholders. The holder is also entitled to receive a dividend for each share, should the Board of Directors consider it appropriate to declare a dividend. 

You can download a copy from our website at www.sparkventures.com, in the investor relations section under the Reports and presentations, alternatively please request a copy by emailing enquiries@sparkventures.com.