Lightning Social Ventures Ltd, trading as Lightning Reach, provides a fintech platform that enables Sign up to read more
| Allotment | Filed | Share Class | Round Size | Round Type |
|---|---|---|---|---|
2023-06-28 | £611k |
| Shareholder | Share class | Shares | Holding |
|---|---|---|---|
| REN YI HOOI | ORDINARY | 1,000,000 | 67.3% |
| 8888888888888888888888 | 8888888888 | 8888888 | 88888 |
| 88888888888888888888888888 | 8888888888 | 8888888 | 88888 |
| 888888888888888888 | 8888888888 | 888888 | 8888 |
| 8888888888888 | 88888888 | 888888 | 8888 |
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Capital raised per employee divides the equity LIGHTNING SOCIAL VENTURES LTD raised in the last six months by the headcount in its most recent filed accounts. It is a rough read on how capital-intensive the business is: a high figure means the company is raising a lot relative to the number of people it employs, which is typical of hardware, biotech and other research-heavy businesses. Headcount comes from annual accounts and so lags the funding date, often by a year or more.
A share class is a category of shares carrying its own rights over voting, dividends and what happens to the money if the company is sold or wound up. UK companies typically issue Ordinary shares to founders and employees, then create a new Preferred class at each funding round, giving investors priority on proceeds ahead of the Ordinary holders. LIGHTNING SOCIAL VENTURES LTD has 3 distinct classes on file at Companies House; the rights attached to each are reproduced below as filed.
NON-VOTING
1. FULL VOTING RIGHTS. 2. RIGHT TO DIVIDENDS. THE ORDINARY SHARES AND THE PREFERENCE SHARES SHALL RANK PARI PASSU AS ONE CLASS OF SHARE FOR THE PURPOSE OF ENTITLEMENT TO SUCH DIVIDENDS. 3. RIGHT TO PARTICIPATE IN A DISTRIBUTION SUBJECT TO THE RIGHTS OF THE PREFERENCE SHAREHOLDERS. 4. NON REDEEMABLE.
1. FULL VOTING RIGHTS. 2. RIGHT TO DIVIDENDS. THE ORDINARY SHARES AND THE PREFERENCE SHARES SHALL RANK PARI PASSU AS ONE CLASS OF SHARE FOR THE PURPOSE OF ENTITLEMENT TO SUCH DIVIDENDS. 3. ON A RETURN OF ASSETS ON LIQUIDATION, CAPITAL REDUCTION OR OTHERWISE, THE ASSETS OF THE COMPANY REMAINING AFTER PAYMENT OF ITS LIABILITIES SHALL BE APPLIED IN THE FOLLOWING ORDER OF PRIORITY: A) FIRST, IN PAYING TO THE HOLDERS OF THE PREFERENCE SHARES IN RESPECT OF EACH PREFERENCE SHARE HELD THE SUM OF THE ISSUE PRICE OF SUCH SHARE, IF THERE IS A SHORTFALL OF ASSETS REMAINING TO SATISFY SUCH PAYMENTS IN FULL, THE PROCEEDS SHALL BE DISTRIBUTED TO THE PREFERENCE SHAREHOLDERS PRO RATA TO THE AGGREGATE AMOUNTS DUE; AND B) THEREAFTER, IN DISTRIBUTING THE BALANCE AMONG THE HOLDERS OF THE ORDINARY SHARES PRO RATA TO THE NUMBER OF ORDINARY SHARES HELD, PROVIDED ALWAYS THAT IF ON A LIQUIDATION OR CAPITAL REDUCTION, THE HOLDERS OF THE PREFERENCE SHARES WOULD RECEIVE A GREATER AMOUNT PER PREFERENCE SHARE IF THE PROVISION IN (A) ABOVE DID NOT APPLY ON SUCH LIQUIDATION OR CAPITAL REDUCTION AND INSTEAD ALL SURPLUS ASSETS AVAILABLE AFTER PAYMENT OF THE COMPANY’S LIABILITIES WERE DISTRIBUTED TO THE HOLDERS OF THE PREFERENCE SHARES AND ORDINARY SHARES ON A PRO RATA BASIS ACCORDING TO THE NUMBER OF SUCH SHARES HELD BY THEM AS IF THEY CONSTITUTED ONE CLASS OF SHARE, THEN (A) ABOVE WILL NOT APPLY AND INSTEAD THE SURPLUS ASSETS AVAILABLE SHALL BE DISTRIBUTED TO THE HOLDERS OF THE
| 88888888 |
| 888888 |
| 8888 |
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