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November 30, 2014, 08:11:22 AM |
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I received a email:
STRICTLY CONFIDENTIAL
FOR ADDRESSEE ONLY
Dear Sir/Madam,
We write to confirm that the CipherMine (‘CM’) restructure plan has been approved.
In accordance with that plan:
1. A new entity, Ciphermine Limited, has been incorporated in the UK;
2. The ‘share’ in the start-up crowdfunding platform CipherTrade (‘CT Share’) has been transferred to Ciphermine Limited. The CT Share has been calculated on the basis of a contribution at the relevant time by CM of USD $20,000, and equates to 10% of CipherTrade;
3. 100,000 shares in Ciphermine Limited have been allotted, and will be available for subscription based on pro rata holdings of the CM B1 ’bond’ (‘Bond’) (e.g. 1 bond = 1 share, 2 bonds = 2 shares etc);
4. The subscription process is as follows:
a. You will sign up for an account at ciphertrade.com (if you have not already done so);
b. You will complete the KYC process;
c. If you are a US citizen you will be unable to subscribe unless you can demonstrate that you are an accredited investor in compliance with US securities laws;
d. By mid-December the number of eligible subscribers will be assessed (‘Eligible Subscribers’) and they will be sent a subscription agreement for signature;
e. On receipt of a signed subscription agreement, shares in Ciphermine Limited will be issued to Eligible Subscribers (‘New Shareholders’);
5. CM’s mining assets are being sold, and will be added to an asset pool with the remaining cryptocurrency mined (which at today’s rates is worth approximately USD $10,000) (the ‘Asset Pool’). The Asset Pool will be distributed on a pro rata basis to New Shareholders;
6. Eligible Subscribers will have a maximum of six months from the date of this communication to subscribe for shares in Ciphermine Limited (i.e. by 24 May 2015). On expiry of that period, any remaining balance in the Asset Pool will be distributed to the New Shareholders.
Finally, please note that by signing the subscription agreement, you will do so in full and final settlement of any claim you might have, or have had, against CM’s ‘shareholders’ and/or any other individual and/or legal person, arising out of or in connection with CM and/or the ‘Bond’.
Yours faithfully,
Wood Technology LLP
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