Crowdcube investors have lost the lot - £1m invested in Myshowcase in January 2017. But to add salt to the gaping wounds, Myshowcase has not closed, it has been given (sold) to Miroma. Crowdcube shareholders now own a tenth of their original number of shares -each valued at £0.0001. Or as the company has now agreed - nothing.
It is a shambles. Shareholders cannot claim their loss relief and are now locked into a newco they didnt invest in. We have written about it here
Crowdcube have remained silent on the issue even when pestered with emails from SHs wanting to know what is going on. As we reported before, Crowdcube decided to mark this disaster by sending shareholders a 'congratulations' email, celebrating their new holding in the newco. Yes they actually did that. Killing you with a smile.
Come on Bryony at Crowdcube - cant you at least be honest enough with your customers to admit this is one of your largest clusterfucks and just say sorry.
It will no doubt not go down in the Crowdcube PRing cupboard as a failure but an exit. Probably one of their better ones.
Thanks to SHs for the information - without it we cant attempt to hold Crowdcube to account for the mess they are creating.
My third Crowdcube loss together wit Sugru and Circuitree. Not sure I will be investing in any future funding.
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