While with Monzo’s first round (while they were still Mondo) the payment was collected around 25 days after they were funded the payments were collected for the second and third rounds after 10 days and 6 days respectively if what I can see on the crowdcube website is accurate.
I had a quick look on the crowdcube website and found this:
I was in both of these rounds and the cooling off period started once the round ended at the terms given on the investment page. The round was closed to further investment when it met targets but the cooling off period started after the round was supposed to end timewise (which may have been those days).
It is my understanding that the process Crowdcube is following is their standard process. It is the same process that was followed for our two previous Crowdcube rounds, which were closed prior to the initial 30-day period due to hitting the investment cap early.
Unfortunately there isn’t a way for us to defer payment as shares are issued fully paid, meaning the cash must be received by us before the share certificates are issued.
I’m sorry for any confusion about the process. I know Crowdcube does let you adjust down your investment pledge, so while not ideal, you could still make an investment amount that fits your current situation.
That’s a shame. Anyway thanks for clarifying this. Yes I can see it from the history but the timeframes seem to have sped up a bit by about a week & the end of the month vs a week after could make all the difference.
The Share Price calculation has included all currently issued A Ordinary and B Investment shares and shares which could be issued (but which have not yet vested) under the Company’s EMI option scheme, which is a maximum of 1,131,248 B Investment shares.
More of a curiosity but is 1,131,248 really the maximum shares under the EMI scheme?
I know you are hiring right now and are there plans to allocate more shares?
Just in case you still have not found the answer, the only difference between A and B shares is that A have voting rights. All other financial aspects are identical. A shares also do not have preference payout rights in case of liquidation.
Hi @GD13, they’ll be issued once the funding process has been completed and you’ll receive an email from Crowdcube informing you when your share certificate is ready.
On my previous Crowdcube investments the share certificates were issued typically 1 month after payment was taken, in this instance it looks like Crowdcube will take the money on 30th May, maybe @HannahCrowdcube can confirm though . I’ll leave the second question for a member of the @freetrade_team.
It’s the maximum number of shares that could be issued in the future based on existing options granted if / when they vest. The board has authority to grant further options as the team grows, and can seek further authority to expand the pool in the future.
On this topic, we’re emulating the ‘Silicon Valley’ approach to employee incentives which is relatively rare, although becoming more common, in European startups.