Frequently asked questions

We want to answer the questions that matter to you. A selection of those most frequently asked is listed below. Still unsure? Contact us through this website and we will provide you with a written response.

Why invest in a VCT?

It is widely accepted that, when held for medium and long term, investments in small companies have greater potential for significant capital appreciation than investments in large companies. At the same time, an investment in a small company carries a higher level of risk than an investment in a large company. Through various pieces of legislation, VCTs are required to channel funding to very small companies through the purchase of newly issued shares by the company. This further elevates the risk. To compensate investors for this additional risk, the Government incentivises VCT investors through a series of attractive tax reliefs. Therefore, an established VCT provides the following benefits:

Immediate access to a portfolio of investments in small companies
The potential for significant capital appreciation.

This information should not be considered as a personal recommendation to invest. Potential investors should read the prospectus before investing. If in any doubt about the suitability of this investment, seek professional advice.

Why invest in AIM?

Diversity of opportunity. AIM, the London Stock Exchange’s equity market for smaller, growing businesses, is home to nearly 850 companies operating across multiple countries and sectors. The diverse population of AIM companies presents an additional, attractive choice to investors.

Growth opportunities. The younger, dynamic businesses on AIM often operate in new and emerging sectors and provide an exciting opportunity for investors to participate in growth stories and support their development over the medium to longer term.

Gains and income. AIM is also home to larger, more mature businesses that present a saving opportunity for the short or long term – as well as equity income potential.

Risks of VCTs

Investing in a VCT (including the VCT) carries a high level of risk and it should be remembered that the price of shares in a VCT, and the income from such shares (if any), may go down as well as up. An investment in the VCT is only suitable for investors who are capable of evaluating the risks and merits of such investment and who understand the potential risk of capital loss (which may be equal to the whole amount invested). Further detail on the risks involved in investing in VCTs is set out here.

The Hargreave Hale AIM VCT latest annual report, factsheet and prospectus can be found in the document library. These documents include a more comprehensive list of the risks associated with this product. Please ensure that you have read and considered carefully each of the risks identified in these documents before investing in the VCT.

What are my shares worth?

You can calculate the value of your holding in a VCT by multiplying the number of shares you hold by the mid-price of the shares.

The mid-price of the shares can be found on this website by selecting the following link: Hargreave Hale AIM VCT plc.

The share price is also available through the London Stock Exchange's website.

Once on the London Stock Exchange's website, type in HHV (Hargreave Hale AIM VCT plc) in the search bar. Selecting 'Hargreave Hale AIM VCT plc' will take you through to a page which gives the share price.

How do I sell my shares?

The shares in the VCT are tradeable through the London Stock Exchange, like an investment trust. Although the VCT operates a share buy back policy, you will need to sell your shares at arm's length (to the VCT) to ensure the capital gains tax exemption is not invalidated. This is best effected through a stockbroker or share dealing service, who can sell your shares through the market. Before selling your shares, you must ensure you can deliver the stock to settle the transaction.

Settlement can be done one of two ways:

(1) Electronic settlement through CREST. If you intend to deliver the stock electronically, then please ensure your shares are lodged in a CREST account with your nominee company. This is often referred to as dematerialised. Settlement through CREST can be done in two business days.

(2) Physical delivery of the share certificate. If you intend to settle via physical delivery, then please ensure you have not lost your share certificates before executing the sale. You will need to send your share certificate and a completed stock transfer form to your stockbroker. Certificated sales can be settled in 10 business days.

Canaccord Genuity Wealth Limited, as administrator of the VCT, can facilitate the sale of VCT shares and is able to act for VCT shareholders who wish to sell their shares. However, you are free to nominate any stockbroker or share dealing service to act for you. If you would like further information from Canaccord Genuity Wealth Limited, please contact the VCT administration team at aimvct@canaccord.com or call 01253 376622.

How do I complain and what rights do I have before the Financial Ombudsman Service and the Financial Services Compensation Scheme?

Complaints about the VCT should be directed to Hargreave Hale AIM VCT plc.

If you have a complaint, you can contact us by email at aimvct@canaccord.com, in writing to Hargreave Hale AIM VCT plc, Talisman House, Boardmans Way, Blackpool FY4 5FY or through the 'Contact us' page.

Shareholders in the VCT do not have a right to complain to the Financial Ombudsman Service about the management of the VCT.

Shareholders in the VCT are not able to make a claim to the Financial Services Compensation Scheme in respect of the VCT in the event that the VCT is unable to pay out.

Lost your share certificate?

If a share certificate has been lost, stolen or destroyed, you should notify Equiniti by phone or in writing. Equiniti will then place a restriction on the certificate(s) to prevent these from being used fraudulently. You'll need to tell them about any certificates you still hold so they can identify which share certificate(s) is/are missing.

Equiniti will issue a Letter of Indemnity which you will need to have countersigned by your bank. The Letter of Indemnity process is required to minimise potential financial loss caused by any misuse of the original certificate(s) and indemnifies the VCT against this risk. Countersignature and administration are key components of the Letter of Indemnity service. Equniti will send a duplicate certificate through the post to your registered address once they have received the completed Letter of Indemnity. You should expect the process to take 2-3 weeks. If you would prefer not to use your bank as the countersignatory, you can make use of Equiniti's countersignature service.

Equiniti will require an administration fee of approximately £45 whilst the bank will levy a fee to reflect the risk that comes with indemnifying the VCT against the lost share certificate. The countersignature fee varies according to the value of the lost share certificates, but will typically range from £50 to £250.

If you are a sole shareholder based in the UK you may be entitled to use Equiniti's Telephone Express Service to obtain a new certificate. You will require a UK debit card, and all calls will be recorded. If you are unable to use the Telephone Express Service, you will need to complete and return to Equiniti the Letter of Indemnity form as described above.

You can contact Equiniti via phone on 0871 384 2030. Please select the lost certificate option on their Shareholder Helpline. Alternatively, you can write to Equiniti at:

Equiniti
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA

Moved home?

Our registrar Equiniti is responsible for maintaining the share register, which includes your address. It's important that you notify Equiniti of your change of address, ideally before you move house, since they process the physical distribution of dividend cheques. We also use their database when distributing the reports and accounts and other shareholder communications.

Equiniti will require written notification of your change of address, including:

Instruction from and original signature of the first named shareholder or legal representative
Name(s) of shareholder(s)
The previous and new address; a shareholder can choose any address to which their shareholding(s) is/are to be registered
Name of the company in which the shares are held
Shareholder reference for that shareholding (this can be found on the share certificate, share statement or on any previous correspondence we have sent you).

You should send your notification to:

Equiniti
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA

Equiniti will process your change of address request within five days of the receipt of your letter. They do not always acknowledge a change of address request.

How often do you value the VCT?

We value our VCT at the close of each week and/or at month end. We publish the net asset value through a regulatory information service provider and aim to publish as soon as possible following the valuation date.

When will the share and tax certificates arrive?

During fundraising periods, we allot shares at least monthly. Allotments can be more frequent in the run up to the close of an early bird offer or as we approach the tax year end.

The registrar will send out your share certificates whilst Canaccord Genuity Wealth Limited will send out your tax certificate. Both should occur within 15 working days of allotment.

Who is the registrar?

Equiniti is the registrar for the VCT. Their contact details are:

Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA

Tel: 0371 384 2030

When will the next dividend be paid?

Although subject to change, the VCT dividend payments are generally as follows:

Hargreave Hale AIM VCT

Interim dividend: July

Final dividend: February

Please note that dividend payments will vary with investment performance. The ability to pay dividends is also dependent on the VCT's available reserves and cash resources, the Companies Act 2006 (as amended) and the Listing Rules. The dividend policy is non-binding and at the discretion of the board of directors of the VCT. Dividend payments may vary from year to year in both quantum and timing. In good years, the Directors may consider a higher dividend payment; in poor years, the directors may reduce or even pay no dividend.

Can I re-invest my dividends?

The directors are pleased to inform shareholders that following approval at the General Meeting on 29 September 2020, the VCT offers a dividend re-investment scheme (DRIS). The DRIS allows shareholders to elect to receive all or part of their dividends from the VCT in the form of new ordinary shares.

Investors may elect to participate in the DRIS when applying for offer shares by ticking the appropriate box in section 10 of the application form and completing the DRIS mandate. Shareholders may elect to join the DRIS at anytime by completing a DRIS mandate form.

Can VCT tax advantages be passed to my beneficiaries?

The five year minimum holding period falls away upon death. Therefore, VCT shares can be passed to beneficiaries free of any obligation to repay the 30% income tax relief. The VCT shares will remain exempt from capital gains tax upon eventual disposal and any income derived from the VCT will remain exempt from dividend tax.

Disclaimer

The materials contained herein have been prepared for use solely by individuals who are resident in the United Kingdom for tax and investment purposes. The materials contained herein are not for release, publication, or distribution, directly or indirectly, in whole or in part, to US persons or into or within the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, Japan, the Republic of South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

There will be no public offering of the securities referred to herein and on the pages that follow in the United States, Australia, Canada, Japan, the Republic of South Africa or any other restricted jurisdiction. The securities referred to herein and on the pages that follow may not be offered, sold, resold, pledged, delivered, distributed or otherwise transferred, directly or indirectly, into or within the United States, Australia, Canada, Japan or the Republic of South Africa or to any national, resident or citizen of the United States, Australia, Canada, Japan or the Republic of South Africa. Potential users of this information are requested to inform themselves about and to observe any such restrictions.

The information on the pages that follow may contain forward‑looking statements. Any statement other than a statement of historical fact is a forward‑looking statement. Actual results may differ materially from those expressed or implied by any forward‑looking statement. The Company does not undertake any obligation to update or revise any forward‑looking statements, whether as a result of new information, future events, or otherwise. You should not place undue reliance on any forward‑looking statement, which speaks only as of the date of its issuance.

By using this website you confirm that you have read, understood, and accepted these conditions, including (without limitation) the risks noted below which may be involved in investing in the shares of the Company. The Company may change these conditions. The changes will be posted on the website and you should check regularly to see any changes or updates to these conditions. Your access to this website is governed by the version of these conditions then in force.

1. Terms and conditions

The terms and conditions set out below apply to your use of the Company’s website. Please read them.

The "Company" or the "VCT" means Hargreave Hale AIM VCT plc and references to "the Company’s website" are to the website available at www.hargreaveaimvcts.co.uk and also include, but are not limited to, the text, documents, images, links, sounds, graphics, and video sequences displayed on the website (the "Materials").

The Company’s website is operated by Canaccord Genuity Wealth Limited (“CGWL”). CGWL is a private limited company incorporated in England and Wales with company number 03739694 and has its registered office at 88 Wood Street, London, England EC2V 7QR. CGWL is authorised and regulated by the Financial Conduct Authority with firm reference number 194927. Details of CGWL’s registration can be found on the FCA’s website at https://register.fca.org.uk/s/.

By clicking and entering www.hargreaveaimvcts.co.uk you agree that you have read and accept these terms and conditions. If you do not agree, do not use www.hargreaveaimvcts.co.uk.

2. Intended audience and access to the Company's website

No information contained on the Company's website or in the Materials should be taken as a recommendation, offer or invitation to buy, sell, hold or otherwise deal with the shares or other financial instruments of any entity nor is it intended to solicit any such offer or invitation. Nothing on the Company’s website or in the Materials constitutes or is intended to constitute investment or other advice (including, without limitation, legal or tax advice) or investment research and you should not act upon any information contained on the Company’s website or in the Materials without first consulting a financial or other professional adviser.

The information in the Company’s website is only for the attention of individuals who are resident in the United Kingdom for tax and investment purposes. It is your responsibility to be aware of and to observe all applicable law and regulation in the United Kingdom. To the extent that you are not resident in the United Kingdom for tax and investment purposes, do not use this website.

The Company’s website is not intended to offer or to promote the offer or sale of the shares in the Company (the "Shares") in the United States or to US Persons. Each acquirer of the Shares will be deemed to represent, amongst other things, that (i) it is not in the United States, (ii) it is not a US Person or acquiring the Shares for the account or benefit of a US Person, and (iii) it is acquiring the Shares in an "offshore transaction" meeting the requirements of Regulation S under the Securities Act.

The content of the Company’s website constitutes a ‘financial promotion’ for the purposes of the UK regulatory regime. The content of the Company’s website has therefore been issued and approved for the purposes of section 21 of the Financial Services and Markets Act 2000 by CGWL which is authorised and regulated by the Financial Conduct Authority (with firm reference number 194927). Nonetheless, the content of this website does not constitute investment or other advice given by CGWL and you should not act upon any such content or the Materials without first consulting a financial or other professional adviser.

3. Risks of investing in VCTs

Investing in a VCT (including the Company) carries a high level of risk and it should be remembered that the price of shares in a VCT, and the income from such shares (if any), may go down as well as up. An investment in the VCT is only suitable for investors who are capable of evaluating the risks and merits of such investment and who understand the potential risk of capital loss (which may be equal to the whole amount invested). Further detail on the risks involved in investing in VCTs is set out in the “Risks of investing in VCTs” section on the front page of this website.

The latest annual report, factsheet and prospectus can be found in the document library. These documents include a more comprehensive list of the risks associated with this product. Please ensure that you have read and considered carefully each of the risks identified in these documents before investing in the VCT.

4. Privacy policy

The Company respects the privacy of individuals who visit the Company’s website and is careful to ensure that information disclosed to the Company in confidence is treated confidentially. The Company has a privacy policy in place which governs your use of the website and, by using the website, you confirm that you have read, understood and accept the Company’s privacy policy. A full copy of the Company's full privacy policy can be found here.

5. Limitation of liability

Use of the Company’s website and the Materials are at your sole risk. The Company and CGWL will not be liable to any person for any direct, indirect, special or consequential, losses, damages, or awards of any kind, howsoever caused, as a result of the use of or inability to use, or reliance on, the Company’s website or any of the Materials. To the maximum extent permitted by applicable law and regulation, the Company and CGWL exclude all warranties, conditions, terms, undertakings, and representations (excepting fraudulent misrepresentation) of any kind, express or implied, statutory or otherwise in connection with the Company’s website and the Materials. Nothing in these terms and conditions shall be taken to limit or exclude any liability which may not otherwise be limited or excluded under applicable law or regulation.

Nothing in this website should be construed as investment, tax, legal, or other advice, nor is it to be relied upon in making an investment decision. Those accessing the website should consult their financial advisers regarding the suitability of any of the products referred to on this website. The value of investments and the income from them may go down as well as up and an investor may receive back less than the original investment. Past performance is not necessarily a guide to future performance.

Trading in securities in smaller companies or a VCT (such as the Company) which invest in emerging markets may involve greater risks and be subject to more abrupt price movements than trading in securities of larger companies.

6. Disclaimer

The Materials and the Company’s website are provided on an "as is" and "as available" basis and do not purport to be full or complete. The Company and CGWL give no warranties (express, implied, or statutory) as to satisfactory quality or fitness for purpose of the Materials, including, without limitation, as to the accuracy, validity, timeliness, merchantability, or completeness of any information or data contained therein (whether prepared by the Company or by any third party), or that any of the Materials or that the Company’s website will be provided uninterrupted or free from errors or that any identified defect will be corrected. The Company and CGWL have the right to suspend or withdraw the provision of all or any of the Company’s website or the Materials without prior notice at any time. You are entirely responsible for your use of the website and for the consequences of relying on any content. Further, no warranty of any kind is given that the Company’s website and the Materials are free from any virus or other malicious, destructive, or corrupting code, program, or macro. The Company and CGWL do not warrant that the Company’s website or the server(s) that make(s) them available are free of any virus or other harmful elements.

To the maximum extent permitted by applicable law and regulation, the Company and CGWL disclaim all liability to you arising out of your use of the website. In particular, the Company and CGWL shall not be liable for any direct or indirect loss or damage to you, any loss of profits, loss of business, revenue, data, goodwill, or anticipated or consequential loss or damage.

Reference in the Company’s website and/or the Materials to any hypertext link, product, process, or service does not imply the Company’s and/or CGWL’s support for, or endorsement or recommendation of the provider thereof or the product, process, or service to which reference is made. The Company’s website may contain hypertext links to other websites, resources, or other third parties. The Company and CGWL are not responsible for the availability of, and accepts no liability in relation to, these external websites or their contents. Each of the Company and CGWL is not a sponsor, partner, promoter, or publisher of any such website.

7. Severance

If any provision of these terms and conditions is found to be illegal, invalid or unenforceable, the invalidity of that provision shall not affect the validity of the remaining provisions of these terms and conditions which shall remain in full force and effect.

8. Governing law

The agreement between you and the Company relating to your use and browsing of the Company’s website is governed by and shall be construed in accordance with the laws of England and Wales and you agree that the Courts of England shall have exclusive jurisdiction over any disputes arising in relation to such use and browsing. These terms and conditions may not be modified unless the Company agrees in writing.

9. Use of cookies

This website will use a cookie to confirm that this disclaimer has been acknowledged. The cookie lasts only as long as your browser is open and cannot be used to obtain any private data about you. You do not have to accept cookies from this site but, if you do not, you will be required to acknowledge these terms and conditions on every page. Please refer to the Company's cookies policy www.hargreaveaimvcts.co.uk for further information on how cookies are used.

10. The Materials that you are seeking to access are not directed at and may not be viewed by or distributed to persons who are resident outside the United Kingdom, including but not limited to:

who are in the United States or who are, or are acting for the account or benefit of, US Persons; or
who are in a jurisdiction where it is not lawful to access the Materials.

By clicking "I accept" below, you represent, warrant and agree that you (1) have read and understood the terms and conditions and other information set out above, (2) agree to be bound by its terms and acknowledge that the Company and its affiliates, subsidiaries, directors and advisers may rely on your agreement, (3) are permitted under applicable laws and regulations to receive the information contained in the pages that follow and, (4) agree that you will not transmit or otherwise send any information contained in this website to any person in the United States, to any US Person, or to publications with a general circulation in the United States. If you cannot so certify and agree, you must click the button labelled "I decline" or otherwise exit this website.