Seed Mentors Investee Company Update – September 2015
This document was prepared by Seed Mentors who are not FCA regulated. Kuber Ventures does not verify any of the information contained herein and the contents do not constitute advice. All readers must seek professional advice before making any investment decisions.
The products on this site place your capital at risk and you may not get back the full amount invested. Tax treatment may be subject to change and depends on the individual circumstances of each investor. The availability of tax reliefs also depends on the investee companies maintaining their qualifying status. Neither past performance or forecasts are reliable indicators of future results and should not be relied upon. Unquoted or smaller company shares are likely to have higher volatility and liquidity risks than other types of shares quoted on the Main Market on the London Stock Exchange. Website content is not intended to constitute investment, tax or legal advice. We only accept business on an advised basis from investors who are confirmed as High Net Worth investors or Self Certified Sophisticated Investors OR Professional investors. Full definitions: High Net Worth investor, Self Certified Sophisticated Investor, Professional Investor. We do however, recommend you seek independent advice before investing in our products.
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(1) An entity required to be authorised or regulated to operate in the financial markets. The following list includes all authorised entities carrying out the characteristic activities of the entities mentioned, whether authorised by an EEA State or a third country and whether or not authorised by reference to a directive:
(a) a credit institution;
(b) an investment firm;
(c) any other authorised or regulated financial institution;
(d) an insurance company;
(e) a collective investment scheme or the management company of such a scheme;
(f) a pension fund or the management company of a pension fund;
(g) a commodity or commodity derivatives dealer;
(h) a local;
(i) any other institutional investor;
(2) In relation to MiFID or equivalent third country business a large undertaking meeting two of the following size requirements on a company basis:
(a) balance sheet total of EUR 20,000,000;
(b) net turnover of EUR 40,000,000;
(c) own funds of EUR 2,000,000;
(3) In relation to business that is not MiFID or equivalent third country business a large undertaking meeting any of the following conditions:
(a) a body corporate (including a limited liability partnership) which has (or any of whose holding companies or subsidiaries has) (or has had at any time during the previous two years) called up share capital or net assets of at least £5 million (or its equivalent in any other currency at the relevant time);
(b) an undertaking that meets (or any of whose holding companies or subsidiaries meets) two of the following tests:
(i) a balance sheet total of EUR 12,500,000;
(ii) a net turnover of EUR 25,000,000;
(iii) an average number of employees during the year of 250;
(c) a partnership or unincorporated association which has (or has had at any time during the previous two years) net assets of at least £5 million (or its equivalent in any other currency at the relevant time) and calculated in the case of a limited partnership without deducting loans owing to any of the partners;
(d) a trustee of a trust (other than an occupational pension scheme, SSAS, personal pension scheme or stakeholder pension scheme) which has (or has had at any time during the previous two years) assets of at least £10 million (or its equivalent in any other currency at the relevant time) calculated by aggregating the value of the cash and designated investments forming part of the trust’s assets, but before deducting its liabilities;
(e) a trustee of an occupational pension scheme or SSAS, or a trustee or operator of a personal pension scheme or stakeholder pension scheme where the scheme has (or has had at any time during the previous two years):
(i) at least 50 members; and
(ii) assets under management of at least £10 million (or its equivalent in any other currency at the relevant time);
(f) a local authority or public authority.
(4) A national or regional government, a public body that manages public debt, a central bank, an international or supranational institution (such as the World Bank, the IMF, the ECP, the EIB) or another similar international organisation;
(5) Another institutional investor whose main activity is to invest in financial instruments (in relation to the firm’s MiFID or equivalent third country business) or designated investments (in relation to the firm’s other business). This includes entities dedicated to the securitisation of assets or other financing transactions
An investor qualifies as a Self-Certified Sophisticated Investor if at least one of the following applies:
a) they are a member of a network or syndicate of business angels and have been so for at least the last six months prior to the date below
b) they have made more than one investment in an unlisted company in the two years prior to the date below
c) they are working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium sized enterprises
d) they are currently, or have been in the two years prior to the date, below a director of a company with an annual turnover of at least £1 million
An investor qualifies as an High Net Worth investor if they have
(a) An annual income to the value of £100,000 or more;
(b) Net assets to the value of £250,000 or more. Net assets for these purposes do not include:
(i) the property which is their primary residence or any loan secured on that residence;
(ii) any rights under a qualifying contract of insurance within the meaning of the Financial
Services and Markets Act 2000 (Regulated Activities) Order 2001; or
(iii) any benefits (in the form of pensions or otherwise) which are payable on the termination of their service or death or retirement and to which they are or (or their dependants are), or may be, entitled
This site is only for UK regulated financial advisers, wealth managers and others regulated by the Financial Conduct Authority. If you’re a private investor, please here
Be aware that the products on this site are considered high risk, so you should read the risks associated with each product before deciding whether to recommend them to a client. Nothing here should suggest a product or service is suitable for a specific investor. You shouldn’t disclose or transmit anything on these pages unless it is clearly labelled as suitable for retail investors. The products and services on this site are only available to UK residents. All of the investments on this site place capital at risk, and investors may get back less than they invest. We only accept business on an advised basis from investors who are confirmed as High Net Worth investors or who are Self Certified Sophisticated Investors.
Kuber does not offer investment, tax or legal advice.
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This site is only for UK regulated financial advisers, wealth managers and others regulated by the Financial Conduct Authority. If you’re a private investor, please click here
Be aware that the products on this site are considered high risk. Nothing here should suggest a product or service is suitable for a specific investor. The products and services on this site are only available to UK residents. All of the investments on this site place capital at risk, and investors may get back less than they invest. Kuber does not offer investment, tax or legal advice.
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