VNL is a widely held company.  A list of top shareholders is published on the VNL AIM Rule 26 page. However, most shares are held via either Clearstream/Banking or Citivic Nominees (Euroclear). The end holders of these shares are often unknown.

The Company has informed shareholders that under the revised Memorandum and Articles of Association dated 21 October 2008, every member shall comply with the notification and disclosure requirements set out in Chapter 5 of the Disclosure and Transparency Rules Sourcebook of the UK Financial Services Authority Handbook as if the Company were classed as an ‘issuer’ whose ‘home state’ is the United Kingdom. If it comes to the attention of the Directors that a member has not within the requisite period disclosed their holding in the Company, the Company may, inter alia, at the discretion of the Directors, notify the member that their shares in relation to the holding shall not be entitled to a vote, either in person or in proxy, at any general meeting of shareholders of the Company.

VCIM therefore asks all shareholders to contact us and inform us of your investment in VNL.  Furthermore, all shareholders of more than 3% are required to report their shareholdings to the Company for announcement on the Regulatory News Service. These shareholders are also required to notify the Company on any change in shareholding of plus or minus 1% of the total shares of the Company.