Crest statements issued by Companies House

I am on a distribution list for digital Crest statements for companies I hold shares for, or am interested in. One of which is Monzo. However, some (most) of the time I am not sure what the document is telling me.

For instance something with the description ‘Statement of capital following an allotment of shares on 30 November 2020’.

Any share experts out there?

The statement of capital basically lists all of the companies outstanding shares, in each class, and their combined value.

Monzo, as with many companies, sets their nominal share value to the easiest value to deal with on their accounts, often £0.0000001 per share. So the combined total value of all shares isn’t a useful or relevant figure.

What the statement of capital does show, that is useful:

The total number of shares issued in the company, in each class.

In Monzo’s case, that’s 143,911,229 as shown in the PDF.

Additionally, what the document shows, is brand new shares were “alloted”, i.e, created.

The reason for their creation doesn’t need to be listed. But some possible reasons are:

  • Monzo raised more money, and created new shares to sell in exchange for the money.
  • Some companies, including Monzo, run an employee share scheme. Companies keep a pool of shares to one side and assign them to new employees. From time to time, that pool may need topping up.
  • Employee stock bonuses (not sure if applicable to Monzo)
  • I’m sure there are other reasons companies create new stock too.

In the particular document I’m loooking at (as below).

194,439 new shares were created, and somebody/some company paid £7.7145 per share. That comes to exactly £1,500,000. So it may be one of the investors that bought shares in Monzo’s latest fundraise.

For reference, I took screenshots from this filing

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Interestingly the Monzo board as far as I understand it have approved the creation of an extra 55 million shares over and above the £60m they have just raised - if required for some reason …ie at present value the ability to raise / give away / reward employees around £424 million pounds

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Thanks for replies. Presumably these are statutory requirements. Whether all interested parties are

  1. (Made) Aware of a change.
  2. Understand the ramifications of a change

…is a moot point. The fact is that ‘the information is there if you want it’ and ignorance is no excuse.