Crowdcube customer service levels are on the up. Now some investors get an email telling them they have lost the lot.
From:
Crowdcube <
support@crowdcube.com>
Date: Wed, 24 Oct 2018,
Subject: Cocoon Sale: outcome of vote announced
To: poorsoul.com
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Hello Poor Soul,
Further to our previous emails requesting your vote regarding the
potential sale of Cocoon, we can now confirm that the majority of
investors voted in favour of this transaction.
What is the
effect of this vote now it’s approved by Crowdcube Investors?
As the majority (measured by the number of shares owned beneficially) of
respondents voted in favour of the transaction, the Nominee has signed
the Sale and Purchase Agreement (SPA) and shares have been transferred to
the Buyer.
As per our previous email, which
included an update from Cocoon, as the business is being sold at a price
significantly below the valuation at which you invested, you will
unfortunately not receive a return on your investment.
What about Loss
relief?
You may be able to claim EIS loss relief on your investment even though
the transaction will proceed. We strongly advise you to seek independent
tax advice and independent advice on the proposed actions
requested.
Kind regards,
The Crowdcube Team
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The issue isnt the return on the investment you idiots, shareholders wont even get back a penny of the principle sum. Why did shareholders vote for this outcome? It makes less sense than Brexit.
Help offered - None. Apology offered - None. Service levels - Zero. Reasons people keep on handing over their money - None. Outcomes - None. Sense - None. Keep up the good work.
I must be hard of understanding.... So, the original seed investors get back 20p in the £1. The investors who pumped in a couple of Mil only a few months ago get nothing?
ReplyDelete'Deteriorating conditions?' They'd not sold any yet! From what I can tell there was a big demand and they merely failed to deliver. I wonder what their salaries were (the directors) and what kind of golden hand shake they'll receive. So simply sold a £3M investment for £200K, six months after receiving the investment!
Not sure who these new investors are - are you mixing this up with Kokoon, who make the invisible headphones? I gather that a few have now been delivered. Anyhows you shouldnt be surprised by the scale of the ineptitude - this is Crowdcube.
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