Crowdcube request to change Investor Nominee Terms


#86

No

As in voting no, not as in no not voting :+1:


(Splodf) #87

Clear as mud! :rofl::rofl:


#88

I’m waiting a while to see if someone here comes up with a compelling argument for voting ‘yes’.

Until then, it’s a ‘no’ from me.


(Jamie) #90

Started reading through the terms, couldn’t see any positive changes for the investors, so came here to seek advice. Even the summary on the voting page I could only interpret as additional powers for Crowdcube to do what they wish?

I would really like to hear something from Monzo about this, specifically what it really means and why this is happening now. The email does say “Monzo have issued a new vote”, which suggests Monzo triggered this, or at least approved the triggering of this change of terms.

Holding out on voting until I start to hear any arguments in favor, there must be somebody out there who has a positive view of it who can try showing another perspective I’m not seeing?!


#91

Disappointing to see no word from Monzo on this as of yet. Not very promising in terms of transparency / clear language, for something as significant as this.


(Danny) #92

Voted No, can’t see any good reason to do otherwise.


(Dave) #93

I also voted No. The changes weren’t significantly clear to me, if they can produce additional documentation on these changes and represent I might change my mind but until then I’m happy with my original agreement.


(David Sulitzer) #94

Perhaps there’s some legal reason why Monzo can’t comment on this?


(Jamie) #95

Interesting point, I’d have to assume this is true if Monzo haven’t chimed in soon.


(Caspar) #96

I didn’t get an email, did everyone who’s invested get one? Or only those who invested before the latest round?


(Dan Warriner) #97

It’ll be everyone who invested in the first three rounds. The latest round was under the new conditions; which we’re being asked to agree to retrospectively.


(Nick) #98

Only those who invested before the latest round, as the latest round was on the new terms already.


(Mark) #99

Voted no.


(Dan) #100

It’s a no from me.

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#101

Voting NO. Everything to lose - nothing to gain.


(Tom) #102

Looks like everyone is going to vote no unless we get some additional information from Monzo or Crowdcube.

It is really important we get some advise in clear english in particular on the decisions Crowdcube can make on our behalf.

Interestingly anyone who invested in the last funding round are already on these new terms for that investment.


(Adam) #103

I voted no and this played a part of it :
10. Fees and expenses

(a) Crowdcube may from time to time charge the Investor fees and expenses for providing the services under this Agreement. Any such fees and expenses shall be exclusive of any fees and expenses which are covered by the Investor Terms.

No mention of what the fees are and we would be stuck with CC and their ‘fees’


(4 Round Investor) #104

What fees could be a percentage of the upside…

No way don’t retrospectivly come back for different terms…

I can’t see Monzo commenting on this as this is an agreement between crowdcube and the investors


(Shaun) #105

No from me as well


#106

Just spoken with Monzo about my frustrations with Crowdcube and their poor comms on a share transfer that has been going on for the last couple of months. They said their lawyers have been in touch with Crowdcube and investors should be hearing from Crowdcube very soon. This didn’t do much to solve my query but reassured me in:
a) The comms around the new terms were nothing to do with Monzo
b) Monzo is stepping in to make sure people are having their issues resolved