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Action group forces Close to consider VCT position.

Close Venture Manage-ment, which runs the Murray VCTs, has threatened it will no longer run the trusts if the action group succeeds in ousting the directors.

The boards of the VCTs have been forced by the Murray VCT123 Action Group to call extraordinary general meetings on 5 and 6 September, during which the group will call for the removal of the trusts' directors.

However, in a joint statement the boards said that as a result of the action group's refusal to discuss its plans to introduce its own set of directors, Close has informed them it will sever its management agreement with the VCTs should the board members be overturned.

Patrick Reeve, managing director ...

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