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A special resolution has been passed granting the Directors authority to allot up to 2,158,273 new shares at a premium of £1.39 per share raising a total of £3,000,000 of new equity. A-Ordinary Shareholders have restricted & exclusive rights to maintain or increase their stake in Chip.

  • Private subscription for A-Ordinary shareholders only
  • Maintain or increase your stake under pre-emption rights
  • 94.7% approval for CLN conversion
  • New equity issue at £1.397383 per share
Information Chip’s CLN will convert at a 20% plus 8% p.a. discount to the new £1.39 share price, a pre-money equity valuation of £67,860,000. The pitch displays a pre-money valuation of £82,208,554 to represent the fully diluted value of the company post-conversion and including all options. Please see the FAQ's for further information.

Idea

A special resolution has been passed granting the Directors authority to allot up to 2,158,273 new shares at a premium of £1.39 per share raising a total of £3,000,000 of new equity, valuing the company at £67,860,000 from which the conversion discount is applied. A-Ordinary Shareholders have restricted & exclusive rights to maintain or increase their stake in Chip.

In line with stated plans, Chip aims to secure a larger follow up investment round in the coming months.

With regard to the convertible loan agreement dated 29 September 2020 between Chip, the Future Fund and Crowdcube Capital Limited the Lender Majority have now voted 94.7% in favour of converting the loan into shares immediately following a bonafide new investment.

The new shares can be subscribed for by new investors although must be offered to existing A-Ordinary shareholders and loan holders for a minimum period of 15 business days pursuant to the pre-emption rights under the company’s Articles of Association.

As an existing A-Ordinary shareholder or loan holder with listed access to this investment page you may subscribe for more shares to maintain or increase your stake prior to the follow up investment round.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.