Crowdcube investors voting

Vote for future of wirex

3 Likes

Voted :white_check_mark:

vote

1 Like

Are we being undercut? Would anyone like to persuade me that clicking yes is the right thing? I thought our investment was already being used to expand into USA and this has only been delayed.

As a reminder, Crowdcube investors hold Ordinary Shares in Wirex via Crowdcube Nominees.

In certain circumstances, Crowdcube investors may receive less than those other shareholders or no return.

Holders of Preference Shares also have the right to convert their shares into Ordinary Shares

subscription price of £4.4936 per share (the “ New Shares ”). In the Crowdcube round during 2020, you paid a share price of £9.238729.

Wirex has already obtained requisite shareholder consent to authorise the directors to issue the shares and disapply pre-emption rights in relation to the New Investment and to adopt the New Articles.

1 Like

Est-ce la fin de nos actions ?

1 Like

Some genius say if service is good they don’t need to be seeselled and not only selling but with discount and preferences

1 Like

Well yes we are being under cut by £4.74…or 52%…it seems a lot with little explanation from the Directors for the reasons for this…did Mr Taran approach Wires or the other way round ? Do us little shareholders have the option to buy in on the same terms.

I recognise that an £11m investment is serious money and hopefully it will make Wirex fly…but some more information from the directors would be helpful.

3 Likes

Voting no for a number of reasons

TLDR:

  • £11m resulting in a dilution of shares signals trouble ahead
  • Taran is a beneficiary of offshore accounts with strong links to Russia
  • Taran founded a forex company that had its operating licence revoked from multiple countries
  • Suspect that the forex company was being used as vehicle for money laundering in Russia
  • Seems like a bad look to even be considering this investment

£11m isn’t that much in the fintech world to raise which makes me question if Wirex can stay afloat

Viacheslav Taran seems to be connected to Denmark Alliance Corp, addressed in Moscow (search Viacheslav Taran offshoreleaks.icij) linked to multiple further offshore “companies” also linked to Russia (Expand the links of Denmark Alliance Group).

The Forex Club, who Taran was previously CEO and founder did well (wikipedia- Forex_Club and footnote references)- however they were stopped from operating a number of times due to their lacking AML and compliance controls in multiple controls including the US and even Russia themselves. When the Russian national bank revokes your license to operate you know there’s something wrong.

Additional in argument to the fact The Forex Club made money- We should be wary of financial companies with lack AML and compliance issues as it’s likely the money flowing through was illicit in origin.

Given Wirex’s current position applying for licenses, tightening compliance controls (so they are not being used as a vehicle for money laundering) and trying to expand- it doesn’t seem like a great decision all round.

If Wirex has done their due diligence on Taran, then my initial concern remains.

6 Likes

hi guys how can i help you?

1 Like

im a super ambassador sir @Oleg_Levchuk and its nice to meet you.

1 Like

Could you controll ‘fedina penale’ e ‘fedina finanziaria’ of Taran

1 Like

English sir pleasd :blush:

1 Like

Done vote my fellow.

1 Like

:no_entry_sign:

1 Like

We appear to be getting undercut. Plus, we don’t have an anti-dilution clause to protect our ordinary shares.

1 Like

No option to join, according to the resolution the right for pre-emption has been waived already by the majority of shareholders/directors. We are just a minority, so no say in this.

2 Likes

You’ve disabled me in your preferences. You need to allow new user onboarding tips to interact with me.

Wirex’s latest investment is a bridging round, allowing the company to quickly scale in new markets where the opportunity for growth is significant. At the time of raising investment with Crowdcube investors in 2020, Wirex stated its aims to expand to new growth markets, with the USA being one of the most significant. The latest bridging round allows the company to accelerate this plan. The fundamentals of the USA market gives Wirex an opportunity to maintain its business goals of revenue-positive growth. The leadership of the company believe strongly that in welcoming this bridging investment, the overall valuations of Wirex will ultimately be more positive and bring the company closer to the commercial aims initially proposed in the investors presentation in 2020.*

*With these commercial aims achieved, the Company is planning on a much bigger Series C later this year at a much higher valuation. We appreciate your continued support, and are excited to share further news with you on this later in 2022.

2 Likes

And win yes

2 Likes

Launch in USA just a couple days after the vote “passes” with a huge number of investors voting no. As shady as it gets. At this time I wonder if Wirex needed the money at all. Seems just like a way to get an additional investor a sweet deal while punishing everyone else.

1 Like