The entire process of the first round of subscription has been successfully completed.
Welcome to shareholders
Yesterday, i.e. 15. 8. 2012, the Commercial Register registered all the required changes and some of you became shareholders.
The company has a registered share capital of 23 000 000,-CZK ( twenty-three million Czech crowns). The share capital is 100% paid up. Current extract from the Commercial Register.
We will now deal with the necessary administrative matters and the requirements of our shareholders. The last step is the registration of the real estate (datacentre and land) in the Real Estate Cadastre, which should take place in about 2-3 weeks.
Surprise and disappointment
Surprise
Thank you to all of you for the tremendous confidence you have shown in our company by your record interest in our shares, which sold out in less than 52 minutes. In the first moment – surprising, shocking and fantastic at the same time. Now a few days later – binding. We must not disappoint our customers and now our shareholders. At the same time, it is a great proof of trust in our society.
Disappointing
We have let down hundreds, maybe thousands of people who were not reached. We had to return almost half a million crowns to people who paid and believed they would get it. Other people had ordered and didn’t send payment because they saw that they were so low in the pecking order that it didn’t make sense. Hundreds more people wrote to us saying they were interested and that they hadn’t managed to sign up or that they didn’t know about it at all (for example, because of holidays).
We wanted to resolve the situation and accommodate them and make the purchase possible. We looked for some possibility in the law, we dealt with it for a few days last week. Unfortunately, it didn’t work and now we have to look for other options.
Plans for shares
Next round of subscription
Given that we would like to both satisfy the interested parties that have not been reached now and accelerate our growth, we can imagine another round of share subscription, which will have to be approved by the General Meeting of the company.
We are therefore unable to specify the terms now, as it will all depend on negotiations with the other shareholders. We will not resist the entry of other shareholders. In addition to capital for development (entering foreign markets, expanding the offer with additional services and possibly building a new data centre), it will mainly bring satisfied customers (shareholders) who will bring more and more clients and ideas.
As the loyalty part of our Loyalty Share Programme will be launched in January 2013, we have time for a possible next round of subscriptions. According to our surveys and findings, the loyalty part of the program is one of the main impulses to buy shares, so we want to enable all interested parties to take advantage of this loyalty (discount) program.
We would be happy to have your help in putting together the terms and conditions and rules for the next round of underwriting so that we can address both the rules and the underwriting process in an appropriate way.
Current shareholders and their shareholding
Existing shareholders will not automatically have their shareholding reduced. Each current shareholder will have a pre-emptive right to new shares corresponding to the size of its current shareholding and it is up to the shareholder to exercise this pre-emptive right. Each existing shareholder can therefore retain their current shareholding. It’s up to him.
We have also heard concerns that if the shares are re-subscribed, the value of the current shares will be diluted (diluting the value of the company) and possibly reducing their share of any future dividend (any profit will be split between more shareholders). We do not share these concerns. Why? It’s simple. All funds are invested in the development of the company (purchase of equipment and hardware). Thus, with each additional subscription, the value increases. At the same time, we should (thanks to greater investment) make more profit in the future. We assume that each invested crown will bring several additional crowns (both by the company’s appreciation and a possible higher dividend in the future).
Extraordinary General Meeting
As of yesterday, we are a company with several hundred shareholders. We must therefore determine the direction of the company’s development together with other shareholders. We believe that it is appropriate to convene an extraordinary general meeting to discuss all the details related to our company, future plans, prioritization and, last but not least, to discuss a possible next round of subscription.
Originally, the idea was that we would hold this extraordinary general meeting at the end of October together with the WEDOS Open Days event. In the end, we decided to move the Open Days to the spring and always hold an Annual General Meeting at the same time to approve the results for the past calendar year. Therefore, we will now propose an extraordinary general meeting in September/October, possibly in October. The planned agenda for the Extraordinary General Meeting will be sent to all shareholders, including the invitation, by e-mail and by regular mail.
Sale of shares
Don’t sell
Every day we receive many inquiries about whether someone is selling our shares. We have also seen many advertisements offering to buy shares at various prices (130, 150 crowns and more). We believe that the value of the shares is significantly higher, not only due to the interest in the stock (see the sell-off in less than 52 minutes), but also due to the fair market value of the company.
We advise all successful shareholders not to sell their shares, even though most of the offers look very interesting and there is a tempting appreciation (tens of percent in a week or two).
Transfer of shares to a new shareholder
Transfer of shares to a new shareholder is possible. We will not describe here the transfer of certificated shares, but the situation as we will deal with it in our country. As we announced at the beginning, we will authorise share transfers in the same way as domain transfers. You can therefore use a certified signature or an online transfer with online authorisation. Please contact us for details.
Along with the transfer of shares to the new owner, you must not forget about any tax aspects. If you need help, we can help.
Ask anything
If you want to ask us something, just ask. If you have any questions about our Loyalty Share Scheme or the shares themselves, or if you are a direct shareholder of the company and have any questions, please contact us. We look forward to any questions, ideas, comments. We don’t want any ambiguity, we don’t want any secrets.
Personal meeting + tour of the WEDOS Datacentre
If you are interested, we can also arrange a personal meeting. At the same time you can take a tour of our WEDOS Datacenter. The dates can be arranged individually, including weekends, when it is possible to combine the trip with a family trip to the beautiful castle in Hluboká nad Vltavou, etc. To arrange a visit, please contact us via the contact form:http://datacentrum.wedos.com/cform.html
Phone
We have set up a telephone information line which operates every working day between 9:00-11:00 and 13:00-15:00. Just call 380 999 779 to find out everything you need to know.
Form / e-mail
Contact us via our contact form and we will be happy to answer all your questions: