Parcel2Go exit

Investing and Markets 📈 Startups Crowdfunding 🔨
1

You have received this message because you are an investor in P2G.com Worldwide Limited, trading as Parcel2Go (the “Company”) and your shares are held on trust for you by Crowdcube Nominees Limited (the “Crowdcube Nominee”).

The Crowdcube Nominee has received an offer to sell all the shares it holds (the “Sale Shares”) as part of a management buy out. The buyer is Mayfair Equity Partners LLP (“MEP”).

The Crowdcube Nominee cannot sell some of the shares, therefore this is an “all or nothing” sale offer.

Please see the letter and documents below for more information. Please note the following key information:

  • The offer price is £0.563 (before tax) per share. Your original investment was at a share price of £0.3957. If accepted and the deal completes, Crowdcube investors will receive all funds as cash; most other shareholders will receive a mix of cash and loan notes in the new company.
  • This sale is not complete yet and not guaranteed. We will confirm if/when the sale completes. The offer price may be adjusted by 10% up or down depending on the level of cash that is left in the company at completion.
  • The sale is unanimously recommended by the Board of Directors, and currently approximately 92.03% of the existing shareholders.

In the event that a majority of Crowdcube investors do not approve the offer, the Crowdcube Nominee will not accept the offer, but will be forced to sell the shares on the same terms in any event because it has been served with a “drag along notice”, which is a mechanism under the Articles of Association which allows minority shareholders to be compelled to sell on the same terms as other shareholders in the event of the sale of the whole of the Company.

If approved and the Crowdcube Nominee is instructed to sell the shares, the Crowdcube Nominee will confirm to the buyer on your behalf that you are the sole beneficial owner of the shares, and that there is nothing that affects your ability to transfer or dispose of those shares (e.g. court order, notice, or lien). If this is incorrect you will need to contact nominee@crowdcube.com as a matter of urgency.

The deadline for this vote is 5pm on Wednesday 27 November 2019. Your vote is irrevocable once made, and the Nominee will act in accordance with the majority of respondents.

Supporting documents minority offer crowdcube

Do you agree that the Crowdcube Nominee should sign the documents to sell all shares held in P2G.com Worldwide Limited?

Yes

No

4 Likes
2

I invested in this but I said no to the offer. I don’t think it will make much difference however.

3

Why did you say no?

4

Because I feel the company could be worth more in a couple of years.

5

I sent this to investors@parcel2go.com

“As a small shareholder who took part in the 2017 crowdcube campaign I am disappointed by the drag-along provision relating to the proposed offer. I and several other investors online would prefer not be forced to exit at this stage in the company’s evolution. I believe in the company and its prospects going forward and wish to remain a part of that. It is also my personal view that the offer on the table significantly undervalues the business when considering its growth prospects going forward.”

6

I did not invest but have a family member I introduced to crowdfunding who did. To me whether you vote no or not majority will take the day.

I see this as a win and if I invested would vote yes.

7

Would have liked to have stayed around to potentially enjoy a greater return down the line but inc. divided payment that was made this represents approx 50% return in less than 2 years so overall not bad. I’ll take it. Helps cover some of my other crowdfunding losses and I go again :slight_smile:

2 Likes