Hands down probably the quickest request they ever did during the whole time I had the account!
3 Likes
That’s the one reason I clicked!
2 Likes
Poor rate though
4 Likes
No Monzo and no Chase…
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Not even Arnie?
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None of the above 
The Company has been in contact with Crowdcube Nominees to inform us of an offer to purchase your shares in Kroo. We wanted to let you know some more information, including the consideration proposed by the Buyer, and have set this vote up to seek nominee investors’ direction as to whether Crowdcube should accept it on behalf of you. Please see further details below, including what you need to do.
What are the terms of the sale?
The offer price is a gross value of £14,000,000 for the entire issued share capital of the Company. It’s important to note that this Offer Price is subject to downward adjustment in the event of any value leakage (“Leakage”) and reflects common practice in exits of this nature. The purchase price is also subject to further possible deductions for:
- Regulatory Capital Shortfall (i.e Company’s own funds falling below £2.5 million), and;
- Losses and costs from PRA/FCA regulatory intervention in 6 months post-completion
This represents a share price of £0.14. The latest share price reflected in your portfolio is £0.59 and therefore this unfortunately represents a negative net return for nominee investors. Crowdcube Nominees will receive an estimated maximum of £328,855.87 in cash as a result of the Sale. We appreciate that this is a disappointing result and if you have questions that you would like the company’s management to address, please let us know.
In order to implement the Proposed Transaction, shareholders representing at least 75% of the Company’s issued share capital will need to agree for the company to enter into a Sale and Purchase Agreement. If this threshold is reached, any remaining shareholders will be dragged into the Proposed Transaction. The proposed transaction will not proceed unless Shareholders representing 75% of the company’s issued share capital agree to its terms. If the proposed transaction is successfully completed, all investors will receive their cash consideration in two instalments:
2 Likes
Someone who wants the licence or the tech?
I haven’t used Kroo but Nationwide or the Coventry buying someone with a decent tech stack at bargain rates would be an excellent complement to their recent purchases…
WTF? Happy days are here again…oh wait…
This is an interesting development 
Can’t see it being Coventry or Nationwide. Probably not someone looking to expand their customer numbers. I don’t think you can just buy a banking license so probably somebody looking for the tech. Yorkshire Building Society?
I would think Coventry is busy enough absorbing Co-op Bank, and similar for Nationwide with Virgin Money.
Founders/large shareholders at Kroo hoping to cash in and run? (Set up 2016).
ou have received this message because you are an investor in Kroo Bank Ltd (“Kroo” or the “Company”) (Company Number: 10359002) and your shares are held on your behalf by Crowdcube Nominees.
You should have received a notification from us requesting your vote on a proposed transaction regarding Kroo Bank. This is a significant event that directly impacts your investment, and your input is crucial.
Kroo Bank strongly recommends that investors vote in favour of these resolutions because after exploring a range of options Kroo Bank believes that this offer represents the best available terms for Shareholders returns and the company.
Got this today - I’m guessing to send this out so quickly indicates that too many people (me included) are voting no.
I was shafted with my Freetrade investment, and now this! I voted a firm NO on that one. Cheeky gits.
2 Likes
Shafted via Freetrade or Crowdcube? Surely not…
3 Likes
@tired do all notifications come with vibrate?
I have only taken notice for those of money coming in including the interest payments, and card payments. They do vibrate.
The ones for direct debits going out, monthly statements or standing orders being paid come at night when I have DND active.
1 Like