To my knowledge a whole block has to be sold at once.
Cool thanks, Iāll keep saving the pennies thenā¦!
I wasnāt aware of this. So if I were to sell my 995 it would simply need to be in one go?
I think so, yes. Please donāt take my word for it though, I am sure someone else here has been through the process and knows.
Happy to buy any shares at Ā£11-12 per share depending on quantity, DM me.
Each block has to be sold in its entirety.
It concerns me that people are jumping into buying or selling shares without having done any research what so ever. This is so careless and dangerous
For everyones information, see the below from @yen
If you click on the top right corner of the original " wiki post " - the red text - it enables you to edit the original post , then click on "edit wiki " at the left bottom , and then type your details / shares / price to the list which up dates the list of shares for sale , then click " save edit " - which enables users to see what shares are for sale , what shares are still for sale ( if - and its a big if , users edit their shareholding when sold ) rather than having to scroll through what I would imagine will be a long thread
What do people think about an āoffer to buyā section as well as the offers to sell?
Then if someone really does need to sell urgently they can just message @benjaminlbowles or whoever is offering the right offer to arrange a quick sale, rather than listing their details and coming up with their own valuation.
I nearly said that
I suppose we could just add that to the above too?
Iād suggest to keep it simple put the emphasis on the buyer to find their seller. This is the way most sales work. A market stall offers bananas, the buyer goes finds the best price from which stall. Ebay the buyer goes and looks at whats on offer. Rightmove. It seems cleaner to me to keep it one directional. I can foresee dreamer buyers clogging up a thread saying āi would like buy for Ā£7ā. Or āi would like to buy 25 sharesā etc. without checking the sales board, without knowing they have to be bought in chunks, and/or without doing the maths that 1000 shares @ Ā£10 is a lot of money
Donāt think this is in the wiki. Has anyone who has sold been asked to provide documentation? Unspecific documentation.
What kind of documentation? I have seen documentation requested to prove identity but otherwise nothing else.
Thereāll be a lot more buyers than sellers and typically sellers are looking for a prompt sale so it makes sense to allow for sellers to visit the wiki and be able to immediately identify buyers who meet their criteria (in terms of price and limit on the number of shares). This has the added benefit of not requiring every buyer to constantly monitor the thread, rather they can be confident that if new shares become available in their price range theyāll be contacted by the seller, and sellers can be more confident in their pricing because the available prices for them to sell at are public ā and they can get the best price by negotiation with multiple buyers at the same time, instead of waiting days/weeks for people to see their listing and contact them.
Best option: allow both buyers and sellers to list themselves (buyers: per-share amount and total budget, sellers: amount of shares, per share, total cost ā to make calculations easier for buyers)
Second best: just list buyers
Third best: just list sellers
For example, Iām willing to buy any amount of shares at the last round price (Ā£7.72[1]), which is helpful information for anyone looking to sell, because not only does it give them an opportunity to sell it also helps them understand the offers available which gives more confidence in pricing their shares
[1] which I know is a lowball offer and unlikely to attract any interest but the offer is there in case anyone wants to sell a potentially large amount quickly.
Hi - selling 995 shares for Ā£10 per share. I know, I know, itās cheap - but I need a fast hassle-free sale.
I posted the offer on the old thread and received about five messages from various buyers, but everyone went quiet - looks like they are window shopping or something.
Reason for sale: recent business venture failed and need liquidity.
Reason for cheap price: need liquidity fast, and represents a good return for me.
I am in contact with Crowcube who have sent me the instructions for the sale. I can forward these to the interested buyer.
Great post
You need to add your price and number of shares to the first post in this topic with everyone elses.
Itās a wiki so that means you can edit it yourself
It was evidence to show financial difficulty/reason for sale
Ahh thatās interesting, I guess this is the āexceptional circumstancesā part that keeps getting referred to.
This therefore begs the question for the belowā¦
If someone is asking for the above amount does that contradict the reasoning you could have possibly given for the sale and would Monzo/Crowdcube be aware
Well they said the doc would speed things up. They didnāt say it was impossible without but didnāt get to that
Im in the process of selling my Shares and they do not interfere in the price u set as they ask you to use an escrow service. Here is the emails i got from them.
Thank you for your email.
You hold the beneficial title to 130 E Ordinary shares in Monzo Bank Limited (āSharesā). You wish to transfer the beneficial title to the Shares for financial reasons (the āTransferā).
In order to process the Transfer, we shall need:
- for you to select a transferee. For example, a friend or relative;
- if the transferee is not a permitted transferee under the Articles (e.g. spouse or child), the Company will need to consent to the transfer. If this is the case, please provide details of the transferee and we will request the consent from the Company;
- if the transferee is not already a Crowdcube member, for the transferee to create a Crowdcube account by visiting the Crowdcube website: https://www.crowdcube.com. Please confirm when this account has been created and provide the transfereeās email address;
- The transferee to pass our standard AML checks, and provide documents to prove their identity if required;
- The transferee to confirm they are happy to be bound by the Articles and any shareholdersā or investment agreement; and
- an executed letter of direction. We will provide a template when you have selected a transferee and received consent from the Company (if applicable).
I look forward to hearing from you soon with the details of your proposed transferr. Please let me know if you have any questions.
Kind regards
Hi Adrian,
Thanks for your prompt reply.
Your shares are held under Crowdcube Nominees Limited and so will need to be transferred to another investor, rather than sold back to Monzo. You will need to find a transferee and we can put your request to the team at Monzo for review.
I am afraid that Crowcube are unable to deal with payments for transfers. Any payment arrangement would be between the transferor and transferee and not something that we can help to facilitate. This is due to our regulated status, we are not able to hold money for transfers.
If using an online escrow service, I am happy to wait for both parties to confirm that they are happy to proceed before completing the share transfer.
I hope this information helps? Please do let me know if you have any further questions.
Kind regards,
Monzo is doing their internal checks on both me and my buyer and should message me back today. Iāll let you guys know if they do ask for any documents etc.