Update on selling shares?

Monzo Chat Crowdfunding & Investors
1

Has anyone been successful recently in selling their shares, or are all requests still being blocked right now? Keen to offload 104 shares.

2

Last I heard, keenness was not a reason you’re allowed to sell. Have you got your agreement in place with the board?

3

My financial situation has somewhat changed so keen to utilise any way I can get access to cash right now. No I haven’t begun any process - have created this post to see if anyone had been able to obtain an agreement from Monzo recently as an indication of success rate.

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4

It’s exceptional circumstances only. When you request permission to sell from Monzo they’ll ask you what’s the reason and for proof.

Therefore you can’t just pick someone else’s just because they were successful.

5

Sure, but as I say, looking for an update as the only account I can see on the forum from February is that ALL requests were being blocked, so posting to see if the situation had changed.

6

Everything on here is anecdotal and should be taken as such. Certainly nothing’s been said here about any successful sales that I can remember but I’m sure there will be more investors that either aren’t members or don’t come here anymore.

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7

I believe that was a misunderstanding but either way you need to apply and have your specific case reviewed.

I’ve seen a failed business and a divorce with foreclosure on their house as two accepted reasons.

Its not a quick process though. It takes several months for them to review your application then you’ve to find a buyer. So personally I’d look for a different route if you need money “right now”

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8

Understood - appreciate your help.

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9

Good luck, hope you get sorted 1 way or another. :slight_smile:

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10

Out of interest, why is selling shares prohibited?

11

It isn’t prohibited per say. there just isn’t a market for shares. You can’t go to a broker and buy or sell Monzo shares. All shares are private. You have to find a buyer or seller yourself as indicated above. Then it takes time of the Monzo directors to authorise them during a board meeting which may not be in the near term. Thats why it has to be exceptional to get onto the board meeting agenda.

It is also accepted that if you buy shares in a startup that you expect to lose all the money, that you cannot sell them for a long time, if ever, and that your position will become diluted over time. Almost every crowdfunding website asks you to accept those principles before you are allowed on their platform and I believe Monzo said the same thing during the crowdfunding.

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