So Tom and all the top bosses sold shares in the 2017 and 2018 raises and then Monzo allegedly fails to report it on file at Companies house until member of public complains to companies house.
Yet crowdfund participants are not allowed to sell
I can see now how Tom can afford to take No salary and another one can afford to leave and farm alpacas
As someone who requested permission to sell 18 months ago feel cheated that the bosses were allowed while others were not.
@iansilversides are you shocked?
shocked about what ? . I can only read the first paragraph if you’re asking about being shocked about the times article
I think I summarised it with the link
Founders and executives sold £33 million of shares in 2017 and 2018 and alledgedly failed to file it in 2019 companies house records but have now corrected it - after a complaint being raised also alledgedly
It was clear from the annual report section 11 that the shares were sold so I don’t find anything misleading. I can’t see the full article but not submitting these seems a fail.
I assume crowdfunded shares are not the same type and have no rights.
er … , without knowing the details , am I shocked about the founders who have worked in the business tirelessly for five plus years decide its time to take a cut for their efforts , not sell up, but just take some portion of reward , nope , not shocked I would do the same if I had worked my socks off
Report now shows the sales but did not before apparently according article
That isn’t true at all, I saw them as soon as it was published, it wasn’t added at a later date. I’m not even an investor.
There’s a thread somewhere with me comparing between years, might be the alpaca one.
As a historian by degree, I have to say it is always best to read the primary source material rather than a secondary source account of the primary material.
no Im not shocked am I shocked that investor no 1 is shocked , I am , Im shocked that people sign up in the knowledge and having been repeatedly told that the shares they are buying are illiquid and Monzo won’t allow you to sell them without very good reason
You should be able to get a Monzo loan
I tried out of interest , didnt need one , but just interested to see how much I could get - I was declined
Tom Bloomfield as well ? fixed the heading
Times says Companies house files filed in 27th February 2019 had share sales and transfers omitted they corrected the March 2020 report.
Basically the top people
Gary Dolman - sold 12 million now left
Jason bates sold 8 million now left
Paul Rippon sold 6 million now left
See a pattern any one ?
What’s the problem? Employees can choose to take some of their salary as shares. When they leave they sell them. Seems normal
Crikey Investor No1 the only pattern is people who have built a bank from the ground up from nothing , five years later have taken a reward , I cant see that there is any great conspiracy here
Tom Blomfield sold £2.6 million - stepped down / moved to president.
I think Monzo just needs to admit it’s a bank and shelves this financial hub idea as that is 5 years time and it needs to start making money now rather than growing massively at a huge loss - there’s no money in Being massive but loss making during a pandemic
I don’t think they’ve ever denied this. Being a bank does not stop them being a financial hub
Growth was doing well until the pandemic. The new annual report will be out in a month or so and will cover prepandemic days so we will have more of an idea then
again without reading the article I am assuming , as one does on the forum , the times are getting their knickers in a twist about skullduggery because one confirmation statement was filed on march 4th showing shareholdings without details of share sales, but with the actual shareholdings, and it was corrected on march 13 with details of what I assume are share bonuses that were sold as they presumably have every right to in their employment package after a certain date (?)