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| Allotment | Filed | Share Class | Round Size | Round Type |
|---|---|---|---|---|
2026-04-29 | £20k |
| Shareholder | Share class | Shares | Holding |
|---|---|---|---|
| THOMAS EDWARD HUNTLY HOOPER | DEFERRED SHARES, G1 GROWTH, G2 GROWTH, G3 GROWTH, ORDINARY | 11,379,829 | 96.6% |
| 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 VIRTUAL CLASS 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. VIRTUAL CLASS LTD has 9 distinct classes on file at Companies House; the rights attached to each are reproduced below as filed.
THE C2 SHARES CARRY FULL VOTING RIGHTS. ON A DISTRIBUTION OF PROFITS BY WAY OF DIVIDEND, THE C2 SHARES PARTICIPATE IN 99.99% OF ANY DISTRIBUTION PRO RATA WITH THE ORDINARY SHARES, F SHARES AND E SHARES AS IF THEY CONSTITUTED A SINGLE CLASS, WITH THE REMAINING 0.01% PAYABLE TO THE HOLDERS OF GROWTH SHARES. THE C2 SHARES DO NOT CONFER ANY RIGHT OF REDEMPTION. THE C2 SHARES ARE CONVERTIBLE INTO ORDINARY SHARES AT THE OPTION OF THE HOLDER. ON A RETURN OF ASSETS ON A LIQUIDATION OR OTHERWISE, THE C2 SHARES PARTICIPATE AT EACH STAGE OF THE DISTRIBUTION WATERFALL SET OUT IN THE ARTICLES, INCLUDING AS TO A NEGLIGIBLE AMOUNT AT EACH STAGE ALONGSIDE ALL OTHER EQUITY SHARE CLASSES. THE HOLDERS OF F SHARES ARE ENTITLED TO RECEIVE A PREFERENCE AMOUNT (BEING 1.5X THEIR SUBSCRIPTION PRICE PLUS ANY ARREARS) AHEAD OF THE SUBSTANTIAL DISTRIBUTION TO OTHER CLASSES, AND THE F SHARES AND GROWTH SHARES ARE ENTITLED TO FURTHER PRIORITY PARTICIPATIONS AS SET OUT IN THE ARTICLES. THE C2 SHARES AND E SHARES ARE ADDITIONALLY ENTITLED TO RECEIVE AN AGREED DISTRIBUTION AMOUNT IN THE PROPORTIONS SET OUT IN THE ARTICLES. THE C2 SHARES AND ALL OTHER EQUITY SHARE CLASSES THEN PARTICIPATE PRO RATA IN THE BALANCE.
THE SHARES HAVE ATTACHED TO THEM NO VOTING RIGHTS; NO DIVIDEND RIGHTS. THEY ARE REDEEMABLE BY THE COMPANY AT ANY TIME AT ITS OPTION FOR ONE PENNY FOR ALL THE DEFERRED SHARES REGISTERED IN THE NAME OF ANY HOLDER WITHOUT OBTAINING THE SANCTION OF THE HOLDER. ON A RETURN OF ASSETS ON LIQUIDATION
These are the directors and secretaries who have left VIRTUAL CLASS LTD. A resignation is filed with Companies House on form TM01 and the date below is the date the officer's appointment ended, not the date it was filed. Departures matter for reading a company's history: a founder leaving shortly after a funding round, or several directors resigning at once, is often the visible trace of a change of control or a restructure.
| 8888888888888 | 88888888 | 888888 | 8888 |
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THE E SHARES CARRY FULL VOTING RIGHTS. ON A DISTRIBUTION OF PROFITS BY WAY OF DIVIDEND, THE E SHARES PARTICIPATE IN 99.99% OF ANY DISTRIBUTION PRO RATA WITH THE ORDINARY SHARES, F SHARES AND C2 SHARES AS IF THEY CONSTITUTED A SINGLE CLASS, WITH THE REMAINING 0.01% PAYABLE TO THE HOLDERS OF GROWTH SHARES. THE E SHARES DO NOT CONFER ANY RIGHT OF REDEMPTION. THE E SHARES ARE CONVERTIBLE INTO ORDINARY SHARES AT THE OPTION OF THE HOLDER. ON A RETURN OF ASSETS ON A LIQUIDATION OR OTHERWISE, THE E SHARES PARTICIPATE AT EACH STAGE OF THE DISTRIBUTION WATERFALL SET OUT IN THE ARTICLES, INCLUDING AS TO A NEGLIGIBLE AMOUNT AT EACH STAGE ALONGSIDE ALL OTHER EQUITY SHARE CLASSES. THE HOLDERS OF F SHARES ARE ENTITLED TO RECEIVE A PREFERENCE AMOUNT (BEING 1.5X THEIR SUBSCRIPTION PRICE PLUS ANY ARREARS) AHEAD OF THE SUBSTANTIAL DISTRIBUTION TO OTHER CLASSES, AND THE F SHARES AND GROWTH SHARES ARE ENTITLED TO FURTHER PRIORITY PARTICIPATIONS AS SET OUT IN THE ARTICLES. THE E SHARES AND C2 SHARES ARE ADDITIONALLY ENTITLED TO RECEIVE AN AGREED DISTRIBUTION AMOUNT IN THE PROPORTIONS SET OUT IN THE ARTICLES. THE E SHARES AND ALL OTHER EQUITY SHARE CLASSES THEN PARTICIPATE PRO RATA IN THE BALANCE.
THE SHARES HAVE ATTACHED TO THEM FULL VOTING RIGHTS; DIVIDEND RIGHTS OF 99.99% ALONGSIDE ALL OTHER EQUITY SHARES EXCEPT THE GROWTH SHARES. THEY DO NOT CONFER ANY RIGHTS OF REDEMPTION. ON A DISTRIBUTION, INCLUDING A WINDING UP, THE SHARES HOLD JOINT FIRST PRIORITY OF 0.00001% OF ANY PAYMENT ALONGSIDE THE ORDINARY SHARES, GROWTH SHARES, E SHARES AND C2 SHARES. THEREAFTER, THE F1 SHARES ARE ENTITLED TO A LIQUIDATION PREFERENCE EQUAL TO 1.5 TIMES THE F1 ORIGINAL SUBSCRIPTION PRICE OF £7.844709 PER SHARE (THE PREFERENCE AMOUNT), AHEAD OF THE E SHARES, C2 SHARES AND ORDINARY SHARES. FOLLOWING PAYMENT OF THE PREFERENCE AMOUNT, THE F1 SHARES PARTICIPATE IN THE BALANCE OF PROCEEDS PRO RATA WITH ALL OTHER EQUITY SHARES. THE GROWTH SHARES ACQUIRE ENHANCED RIGHTS ONCE PROCEEDS EXCEED CERTAIN HURDLES, AS SET OUT IN THE ARTICLES, SUBJECT TO CAPS AS SET OUT IN THE ARTICLES. THE F1 SHARES ARE CONVERTIBLE INTO ORDINARY SHARES AT THE CONVERSION RATE AT ANY TIME AT THE HOLDER'S ELECTION OR AUTOMATICALLY ON A LISTING.
THE SHARES HAVE ATTACHED TO THEM FULL VOTING RIGHTS; DIVIDEND RIGHTS OF 99.99% ALONGSIDE ALL OTHER EQUITY SHARES EXCEPT THE GROWTH SHARES. THEY DO NOT CONFER ANY RIGHTS OF REDEMPTION. ON A DISTRIBUTION, INCLUDING A WINDING UP, THE SHARES HOLD JOINT FIRST PRIORITY OF 0.00001% OF ANY PAYMENT ALONGSIDE THE ORDINARY SHARES, GROWTH SHARES, E SHARES AND C2 SHARES. THEREAFTER, THE F2 SHARES ARE ENTITLED TO A LIQUIDATION PREFERENCE EQUAL TO 1.5 TIMES THE F2 ORIGINAL SUBSCRIPTION PRICE OF £5.491296 PER SHARE (THE PREFERENCE AMOUNT), AHEAD OF THE E SHARES, C2 SHARES AND ORDINARY SHARES. FOLLOWING PAYMENT OF THE PREFERENCE AMOUNT, THE F2 SHARES PARTICIPATE IN THE BALANCE OF PROCEEDS PRO RATA WITH ALL OTHER EQUITY SHARES. THE GROWTH SHARES ACQUIRE ENHANCED RIGHTS ONCE PROCEEDS EXCEED CERTAIN HURDLES, AS SET OUT IN THE ARTICLES, SUBJECT TO CAPS AS SET OUT IN THE ARTICLES. THE F2 SHARES ARE CONVERTIBLE INTO ORDINARY SHARES AT THE CONVERSION RATE AT ANY TIME AT THE HOLDER'S ELECTION OR AUTOMATICALLY ON A LISTING.
THE G1 SHARES CARRY NO VOTING RIGHTS. ON A DISTRIBUTION OF PROFITS BY WAY OF DIVIDEND, THE G1 SHARES PARTICIPATE IN 0.01% OF ANY DISTRIBUTION PRO RATA WITH ALL OTHER GROWTH SHARES AS IF THEY CONSTITUTED A SINGLE CLASS. THE G1 SHARES DO NOT CONFER ANY RIGHT OF REDEMPTION. ON A RETURN OF ASSETS ON
THE G2 SHARES CARRY NO VOTING RIGHTS. ON A DISTRIBUTION OF PROFITS BY WAY OF DIVIDEND, THE G2 SHARES PARTICIPATE IN 0.01% OF ANY DISTRIBUTION PRO RATA WITH ALL OTHER GROWTH SHARES AS IF THEY CONSTITUTED A SINGLE CLASS. THE G2 SHARES DO NOT CONFER ANY RIGHT OF REDEMPTION. ON A RETURN OF ASSETS ON A LIQUIDATION OR OTHERWISE, THE G2 SHARES PARTICIPATE AT EACH STAGE OF THE DISTRIBUTION WATERFALL SET OUT IN THE ARTICLES, INCLUDING AS TO A NEGLIGIBLE AMOUNT AT EACH STAGE ALONGSIDE ALL OTHER EQUITY SHARE CLASSES. WHERE PROCEEDS EXCEED £20,000,000, THE G2 SHARES ARE ENTITLED TO AN ENHANCED PARTICIPATION IN DISTRIBUTIONS AS SET OUT IN THE ARTICLES, SUBJECT TO THE CAPS AND LIMITS SET OUT THEREIN. THE G2 SHARES ARE SUBJECT TO VESTING CONDITIONS, TRANSFER RESTRICTIONS AND COMPULSORY TRANSFER PROVISIONS ON A HOLDER CEASING TO BE AN EMPLOYEE, ALL AS SET OUT IN THE ARTICLES.
THE G3 SHARES CARRY NO VOTING RIGHTS. ON A DISTRIBUTION OF PROFITS BY WAY OF DIVIDEND, THE G3 SHARES PARTICIPATE IN 0.01% OF ANY DISTRIBUTION PRO RATA
THE ORDINARY SHARES CARRY FULL VOTING RIGHTS. ON A DISTRIBUTION OF PROFITS BY WAY OF DIVIDEND, THE ORDINARY SHARES PARTICIPATE IN 99.99% OF ANY DISTRIBUTION PRO RATA WITH THE F SHARES, E SHARES AND C2 SHARES AS IF THEY CONSTITUTED A SINGLE CLASS, WITH THE REMAINING 0.01% PAYABLE TO THE HOLDERS OF GROWTH SHARES. THE ORDINARY SHARES DO NOT CONFER ANY RIGHT OF REDEMPTION. ON A RETURN OF ASSETS ON A LIQUIDATION OR OTHERWISE, THE ORDINARY SHARES PARTICIPATE AT EACH STAGE OF THE DISTRIBUTION WATERFALL SET OUT IN THE ARTICLES, INCLUDING AS TO A NOMINAL AMOUNT AT EACH STAGE ALONGSIDE ALL OTHER EQUITY SHARE CLASSES. THE HOLDERS OF F SHARES ARE ENTITLED TO RECEIVE A PREFERENCE AMOUNT (BEING 1.5X THEIR SUBSCRIPTION PRICE PLUS ANY ARREARS)