We are closing the round (and re-opening in June)

Is there any chance investors who did manage to invest in this round won’t be charged the crowdcube fee, as crowdcube did not live up to their end of the deal and provide a functioning website for investors?

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Roger. I have cooled! I was just thinking that some people may not have budgeted for paying straight away (7 days).

Pay day soon though :partying_face:

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It was functioning if you managed to invest though. Not functioning well but enough to get the investment done

If we invested in this round that has closed are we able to obtain the deck now? I was able to invest but not able to request the deck.

Will the HMRC confirmation w.r.t. EIS be available before the end of the cooling off period?

I want to cancel my investment if it’s not under EIS.

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We are looking at a 5-6 weeks difference. Realistically, there is no reason to expect a meaningfully different share price.

As Adam mentioned, you can ‘express interest’ on the Crowdcube page to invest at this share price.

Just to make sure we give you all information in case you express interest and plan to buy shares from early investors:

  • You won’t pay the 1.5% Crowdcube fee as it will be a transaction between you and the early investors
  • 0.5% Stamp Duty will apply, same as you’ll buy existing shares in a company incorporated in the UK (more information).
  • There will be no EIS for these investments though unfortunately.

I’m afraid to link the page to ‘express interest’ as Crowdcube warned us our traffic may still crash their site. :sweat: But I’ll update this post with the link later. :+1:

EDIT: You can express interest to buy shares from early investors here: https://www.crowdcube.com/freetrade2019

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So I guess the two main questions here are:

  • Will the round in June initially be restricted to community members/those who tried to invest previously?
  • Will the share price be the same?

If that’s the case then I think this has been handled sensibly and makes total sense given that frustration has been largely around the ability to invest and the opportunity to take advantage of EIS

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Would it be possible to share the numbers that caused the crash? Curious more than anything else.

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Yes, this will be available on the Crowdcube page shortly. You’ll just need to request access there.

Would it be possible to confirm the EIS status before officially closing to take the payment?

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We’ll share these details nearer the time.

Cool - thanks @alex.s

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Presumably the value of the company goes up by the amount of this raise…

Will the rewards stay the same?

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We’ll let you know when we’re coming up to the next round.

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Thanks for the update Adam, sounds like it caters for everyone’s needs EIS availability, old investors wanting to get out and new investors not missing out.

Crowdcube should implement “express interest” page for June too :smile:

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Do you expect the EIS confirmation from HMRC before the end of the cooling off period?

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Good decision. This will give more people a chance to invest.

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@Alderms @gmullebr

It’s unlikely that we’ll receive the confirmation within such a short time. We haven’t received advance assurance from HMRC yet, but we can’t see why we won’t.

We’ll update you if we do hear back from them in time.

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