Dear Shareholder,
It is with great pleasure that I invite you to the nineteenth Annual General Meeting (AGM) of Oberon AIM VCT PLC, which will be held at 6 Duke Street, St James’s, London, SW1Y 6BN on Tuesday 30 June 2026 at 12.00 p.m.
The Company is continuing with is strategy to grow the size of the fund, and to that end issued a new offer document, which is available to existing shareholders, and can be viewed on the Company’s website at https://oberonaimvct.co.uk/invester-centre/ . Consequently, we believe the coming year will see further growth which will improve the Company’s buying power when investing opportunities arise and reduce running costs on a per share basis.
Oberon, our investment manager, has as previously stated, devoted more resources to the development of the fund. The team led by Fund Manager Simon Like, an expert in VCT investments, includes Paul Sheehan, Senior Investment Manager and former portfolio manager at Jupiter Asset Management, and Richard Penny, Senior Fund Director, and former Legal & General Fund Manager, who is a multi-award-winning investor with over 20 years of delivering record returns of 606.2% (cumulative) in UK small and mid-cap equities (versus respective benchmarks of 282.7% and 363.4% up to 31 December 2025).
New shares purchased in the Company via this offer will attract 20% income tax relief (subject to status) for up to £200,000 invested in the current tax year.
The ongoing geopolitical uncertainties, and the resulting spikes in commodity prices, have led to increased inflationary pressures which have somewhat stalled the expected fall in interest rates we had previously expected. Nevertheless, once the current uncertainties stabilise we would expect to see a return to the anticipated downward trend.
The fund’s objective is to achieve long term capital growth alongside an attractive tax-free dividend. Your Company has a stated aim to pay a 5% tax free dividend, subject to having sufficient distributable reserves, which would equate to a yield of 8.5% yield to a higher rate tax payer. The Oberon AIM VCT provides immediate exposure to a diversified portfolio of over 40 small and medium-sized companies listed primarily on the Alternative Investment Market (AIM) at what would appear to be near a relative low point in the valuation cycle.
The business to be considered at the AGM is detailed in this document along with explanatory notes for each of the resolutions in this notice.
I would urge all shareholders who are able to do so to attend the AGM, details of which are enclosed, as at the meeting, questions will be welcomed and answered to the best of the Board’s ability. Would shareholders who wish to attend the AGM please contact the Company Secretary by email in advance at johnbeaumont@oberoninvestments.com so we can make proper arrangements.
Shareholders are urged to register their proxy votes either via email (to info@nevilleregistrars.co.uk) or by returning the Proxy Form by post. Please return your form as soon as possible and in any event prior to 12.00 p.m. on Friday 26 June 2025. If you hold your shares through a nominee service, please contact the nominee service provider regarding the process for appointing a proxy.
The Board appreciates that beyond voting on the formal business of the meeting, the AGM also serves as a forum for shareholders to raise questions and comments to the Board. Should shareholders wish to ask the Board any questions prior to the AGM, we request that they do so by email to: johnbeaumont@oberoninvestments.com.
The voting results of all resolutions put before the AGM will be announced as soon as possible following the AGM.
I would urge shareholders to vote in favour of all resolutions which are, in the Board’s opinion, in the best interest of Shareholders as a whole, and I thank you for your continued support.
Yours sincerely
Geoff Gamble
Chairman
29 May 2026