WeShop Community Update: Aug 2024
Shares are only marked as available in your dashboard once they’ve passed the 12-month verification period and have also been validated by the retailer.
See more on Available Shares
WeShop does NOT hold funds on behalf of members.
WeShop is NOT a cashback site, it never has been.
WeShop enables you to receive free shares in the WeShop company for making purchases, inviting friends & successfully recommending products.
You have two options:
You can request a share certificate for your available shares. This is a record that you are the beneficiary of those shares in WeShop Holdings Limited. There will be a fee for this request and certificates can only be issued for available shares.
Alternatively, you can wait until the company goes public on a recognised stock exchange, and request for your shares to be transferred electronically to a stockbroker. Once transferred, you’ll have the opportunity to sell your shares, subject to demand in the market.
We are working with our advisors and audit team to deliver a more accurate date on the listing. For the latest updates, please see WeShop’s recent updates page: https://we.shop/wshp-update-timeline/
We have appointed a US investment bank and an international law firm.
The required financial audit is in progress by a PCAOB auditor.
We are in the process of drafting all the documentation required by the relevant regulators, including data rooms, and all verification documentation.
The company has committed to paying millions of pounds to advisors to enable the listing.
Companies listed on a public stock exchange have access to regulated buyers of the stock (also known as liquidity).
WeShop is in discussions with several regulated stockbroking platforms to make it as easy as possible for the WeShop community to open an account and deposit their shares into it. We will update the community when any such agreement with a provider is reached to benefit the community with easy onboarding.
1. WeShop will invite you to set-up an account with a regulated stockbroking platform. This process will be very similar to setting up a new bank account (i.e. providing proof of address and verifying your identity).
2. Your available shares will then be sent to your individual stockbroking account.
3. When and if you wish to sell your shares, you will need to instruct your broker to sell your shares (usually a simple button on the stockbroking platform).
4. Once the broker has sold your shares, you may be subject to some small industry-standard commission fees. These fees are governed by the regulatory body in the relevant country, for example, the Financial Conduct Authority (FCA). The FCA protect your consumer financial services rights.
5. You will then be able to transfer the cash from your stockbroker account to a bank account of your choice.
We’re working on the details of the minimum number of available shares that can be transferred to your stockbroking account. We will update you with more information as it becomes available. The partner stockbroker may impose a minimum number of shares you can sell and a minimum withdrawal limit on the GBP balance in your broking account.
If you have any questions on any of the information provided above, please contact corporate@we.shop
See more on Available Shares
WeShop does NOT hold funds on behalf of members.
WeShop is NOT a cashback site, it never has been.
WeShop enables you to receive free shares in the WeShop company for making purchases, inviting friends & successfully recommending products.
What can I do with my available shares?
You have two options:
You can request a share certificate for your available shares. This is a record that you are the beneficiary of those shares in WeShop Holdings Limited. There will be a fee for this request and certificates can only be issued for available shares.
Alternatively, you can wait until the company goes public on a recognised stock exchange, and request for your shares to be transferred electronically to a stockbroker. Once transferred, you’ll have the opportunity to sell your shares, subject to demand in the market.
When will WeShop list on a public exchange?
We are working with our advisors and audit team to deliver a more accurate date on the listing. For the latest updates, please see WeShop’s recent updates page: https://we.shop/wshp-update-timeline/
Progress to date:
We have appointed a US investment bank and an international law firm.
The required financial audit is in progress by a PCAOB auditor.
We are in the process of drafting all the documentation required by the relevant regulators, including data rooms, and all verification documentation.
The company has committed to paying millions of pounds to advisors to enable the listing.
Why is it important for the company to be on a public stock exchange?
Companies listed on a public stock exchange have access to regulated buyers of the stock (also known as liquidity).
How will I sell my shares when the company is public?
WeShop is in discussions with several regulated stockbroking platforms to make it as easy as possible for the WeShop community to open an account and deposit their shares into it. We will update the community when any such agreement with a provider is reached to benefit the community with easy onboarding.
Step-by-step:
1. WeShop will invite you to set-up an account with a regulated stockbroking platform. This process will be very similar to setting up a new bank account (i.e. providing proof of address and verifying your identity).
2. Your available shares will then be sent to your individual stockbroking account.
3. When and if you wish to sell your shares, you will need to instruct your broker to sell your shares (usually a simple button on the stockbroking platform).
4. Once the broker has sold your shares, you may be subject to some small industry-standard commission fees. These fees are governed by the regulatory body in the relevant country, for example, the Financial Conduct Authority (FCA). The FCA protect your consumer financial services rights.
5. You will then be able to transfer the cash from your stockbroker account to a bank account of your choice.
Will there be a minimum limit to the number of shares I can sell?
We’re working on the details of the minimum number of available shares that can be transferred to your stockbroking account. We will update you with more information as it becomes available. The partner stockbroker may impose a minimum number of shares you can sell and a minimum withdrawal limit on the GBP balance in your broking account.
If you have any questions on any of the information provided above, please contact corporate@we.shop
Updated on: 15/11/2024