yes I think section 12.13 says you can as part of the same group as a permitted transferee as one of the conditions - being several conditions enabling transfer - any one of the conditions being reached ? which is why Hannah said they have to be in Crowdcube / their nominee account ? obviously crowd cube nominee would still hold the shares rather than being transferred out of the nominee holding as I understand it
I think those articles of association are out of date Tommy there is a feb 2017 Articles on the crowd cube site
Yeah, I have about 3 versions of the articles in my email, I just could only see one on Companies House! Iām assuming theyāre not substantially different.
only your articles of assoc donāt have a section 12.13 I got mine from the crowd cube website dated 9 march 2017 - this is 12.13 from the most up to date articles
How much are they usually worth? Again Iām not familiar with this, but I do understand that selling them right now is not the greatest idea (unless you donāt believe in Monzo for some reason) so Iām happy to pay a premium - the question is, how much of a premium am I paying?
having spoken to Crowdcube I got this email back from them
"Hello Ian,
This is the agreed response from both our legal team and Monzo:
The transfer of shares in Monzo Bank Limited is governed by Monzoās Articles.
Under Monzoās Articles, Crowdcube investors may transfer their beneficial interest to a āPermitted Transfereeā.
āPermitted Transfereeā is defined in the Monzoās Articles as:
(i) a spouse, civil partner, child or grandchild (including a step or adopted or illiegitimate child and their issue);
(ii) the trustees of a transferorās family trust; or
(iii) a company in which the transferor (or their trustees) hold all of the shares.
Outside of transfers to a Permitted Transferee, the board may consent to transfers in exceptional circumstances only (for example if required under a contract of employment).
All transfer requests by Crowdcube investors should be emailed to nominee@crowdcube.com
Kind regards
Hannah Rowe
Community Executive"
which contradicts somewhat Monzos latest articles of association. - Im not interested in selling I was more interested in the process of selling when Im ready to sell - Hannah also said having spoken to Monzo , they were insistant on a 100% sale rather than a shareholder splitting a share holding - i.e. selling a portion of their shareholding - all a bit confusing really , the articles of association I posted earlier donāt seem to agree with Crowdcubes/ Monzos legal teams understanding of the articles - which articles are the ones that crowd cube investors signed up to ? , maybe somebody at Monzo could confirm which articles of association are applicable ??? @Naji ???
beauty is in the eye of the beholder obviously but when each crowdfunding round increases the "value " of the shares by 50% why would anybody at this stage of development pay a 1000% premium ? good luck if you can get it though lol and if you do I might have a Ā£1000 to sell
I personally think they will be worth much more than that - I have them at a Ā£1.5 billion valuation in 5 or so years time - which with dilution could see your Ā£1000 worth the Ā£10K wonāt be selling mine for a while Metros just turned a profit and they are valued at about Ā£2.8Bn - the potential for either Monzo or Starling is phenomenal whether they reach that who knows
I got mine from the crowd cube website dated 9 march 2017 - this is 12.13 from the most up to date articles
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