Well it turns out that MEEM SL HAD to close and then re open as MEEM Memory because the major shareholder who invested £250k via Crowdcube was being such a pest.
This might explain why one of the Directors took out a charge over the IP of the original MEEM just months before they chose to close?
Is that in anyway legal?
MEEM SL (the now defunct MEEM) which was happy to take Mr Goel's £250k when they needed it to complete their pitch, is now offering all Crowdcube shareholders the same size of holding in the new MEEM Memory, which seemingly now owns the IP. They are also offering a very generous 30% bonus.
Do you suppose this is coming from Mr Goel's holding?
All fairly incredible.
Can't see many of the Crowdcubers taking up the 30% discount in the new company, having been the subject of such sharp practices in the old one. Are the directors of the old company the directors of the new one?
ReplyDeleteSame dircetors
DeleteI don't think HMRC are going to like this at all. Do they expect the EIS relief to transfer over or..?
ReplyDeleteInteresting point - not sure. I doubt the existing EIS will transfer but they may bem able to get new EIS fro the newco - which in light of what they have just done makes complete nonsense of EIS
Delete