Why we’re giving our customer free shares
We’re going where no man or woman has been before (at least we think so, or until we hear otherwise).
At Pluto, we’ve made the decision to give our first 200 customers, that buy annual travel cover, 3 shares in our young company.
Hopefully, it’s obvious why we’ve chosen to do this, and we’re a little surprised that we haven’t heard of more companies doing this before.
Technically and legally, there are certainly many things to consider, as well as ensuring there isn’t any negative impact on our existing shareholders. So naturally, we undertook this decision with much legal advice on how best to handle this. We knew what we wanted to achieve, and our lawyers helped us achieve this.
Without going into all the details, we’re creating a new class of shares for our early adopters, that makes it both easy for the customer but also us, as a company, to manage.
But, you didn’t come here to read about how, you want to know why! There are 2 main reasons:
- We want our founding community to join us on our journey, our long-term journey. With our vision focused on making the bad bits about travelling better, this early community will be crucial in helping us to deliver on that. They have already provided us with invaluable feedback, before, during and after our launch. We want to keep this relationship strong, and we feel the best way to do this is to welcome them to the family.
- We also want to reward that same founding community for helping us so far and in the future. They’re pioneers. By buying insurance from a company that didn’t exist 6 months ago and spending time giving us feedback and sharing their opinions. This deserves a reward. A piece of Pluto.
That’s sort of it, 2 simple, but powerful reasons. And the beauty of being a new, small and nimble company is that we had this idea a week ago. We refined it, kicked the tyres, fell in love with it and launched it.
We hope more companies start to do this and we hope you’ll join the Pluto family too.
Get an annual policy today for your shares Pluto!
FAQs
What exactly am I getting?
You will get 3 shares in our company Pluto. Today, 3 shares are worth around £11.34.
When will I be able to cash in my shares?
You will only be any to exchange your shares for cash if the company is sold or goes public (IPO). You can’t just cash them in when you want.
When will I receive my shares?
We will formalise the share issue once the first 200 annual policies have been sold. At this point, we will email you and ask you to sign a legal document to confirm ownership.
Is there any risk? Are they really FREE?!
There is no risk for you and they are completely free. They’re included with any annual policy. You just have to be one of the first 200 to buy one.
I’m a share wizard 🧙🏼, give me the nitty gritty
The shares will be a new class, called Early Access (EA) shares. They will have no right to dividends, no pre-emption rights and no voting rights.
