Once your opportunity closes, we will begin the completions process. This will include the following;
Anti Money Laundering checks
We finalise any outstanding Anti-Money Laundering on investors in your investment opportunity.
Cooling off period
When you have fully funded we will send you the SKI for review and when finalised, circulate to Investors in a cooling off email. Investors then typically have a 4-day cooling-off period to consider their investment after which it becomes legally binding.
Approvals and completion formalities
We’ll provide draft board minutes and special resolutions for you to circulate to shareholders. You can use these or work with your own solicitors to put these in place.
Payment capture
Most opportunities will have payment taken when the investor invests, but there will still likely be some who fail payment which will need to be tidied up in the closing process, either by guiding the investor through the failed payment process, or canceling the investment in some circumstances (e.g. if the investor does not reply to communications).
Share issue
We will calculate the final number of shares to be issued to investors and send share documentation to investors electronically after you have shared with us the Deed of the Capital Raise. We will also prepare your Companies House filings, so all you have to do is send them to Companies House.
Tax relief application
We will work with you to submit your tax relief application to HMRC (the EIS1 Confirmation Statement) and, when we receive approval that your tax relief certificates can be issued (EIS3 Certificates), we will generate these online and give your investors access to their certificates through their Crowdcube portfolio.