We previously gave away up to 1 million member shares where Money Dashboard users were invited to earn member shares by becoming a member of the Money Dashboard community and inviting friends to join Money Dashboard. This opportunity closed on 1 December 2021 and is no longer available for new users who sign up to Money Dashboard Neon or Classic, or to new friend referrals.
These terms and conditions apply to anyone who became a member before 1 December 2021. Please read them carefully as they contain important information about the member community, including eligibility criteria and member rules.
A member share is a right to a payment as a result of the successful sale of Money Dashboard, which fluctuates in value in line with the value of the company. It is not an equity share or equity security in the legal sense but means you can cash in on the successful sale of Money Dashboard without ever investing a penny provided the sale transaction of Money Dashboard can provide a meaningful minimum return to its ordinary shareholders (see Minimum Return Level below). All you need to do as a member is abide by these terms and wait to see if the Minimum Return Level to ordinary shareholders can be achieved on a sale of Money Dashboard.
Money Dashboard is a trading name of Money Dashboard Limited. We are a company incorporated and registered in Scotland with company number SC301187. When we refer to our trading name, Money Dashboard, or we, us or our in these terms, we are referring to the Money Dashboard Limited.
To be a member and retain the member shares you have reserved, you must:
An active Money Dashboard account requires you to add and keep up-to-date at least one bank account to your Money Dashboard account at all times. Additionally, one of your bank accounts added must be current with no less than one bank transaction a month. The link to your bank account is kept up-to-date by authenticating the connection as and when requested.
Member shares can be earned before 1 December 2021 as follows:
Please note that no member shares can be earned from 1 December 2021.
The determination of a member’s eligibility and calculation of qualifying referrals is an automatic procedure based on the sign up process prior to 1 December 2021. Money Dashboard retains the right to, at its sole discretion, review compliance of any member with these terms.
If we have good reason to believe that you have failed to comply with the member rules, or that you have in any way behaved in a fraudulent or dishonest manner, we reserve the right to cancel or suspend your rights to member shares.
A member share is a right to a payment as a result of the successful sale of Money Dashboard.
A “successful sale” is any sale of:
which results in the payment of a cash sum of at least £0.06 per ordinary share to ordinary shareholders of Money Dashboard (these are persons who hold ordinary shares of £0.0001 each in the share capital of Money Dashboard) (such minimum cash sum being the “Minimum Return Level”).
Please note that if the return to the ordinary shareholders of Money Dashboard is less than the Minimum Return Level per ordinary share then this will have been an “unsuccessful sale” because the average ordinary shareholder Money Dashboard who has invested is unlikely to be able to make a successful return on investment. In the event of an unsuccessful sale we are sorry but it will not be feasible for us to make thousands of micro payments to holders of member shares because sum to be paid will not be meaningful and the cost of making the payments will be more than the sums due. We will instead on the occurrence of an unsuccessful sale make a charitable donation for an amount that equals the estimated costs of making the payments (up to a maximum amount of £10,000) to a charity of our choice.
One member share will entitle you to an amount equivalent to the cash sum actually paid on a successful sale to an ordinary shareholder for one ordinary share in Money Dashboard (less any transaction costs payable by that ordinary shareholder). We refer to this amount in these terms as the value of your member shares.
Please note that we reserve the right to deduct from the value of your member shares on a successful sale:
To become entitled to payment of the value of your member shares, the following conditions have to be fulfilled:
We will let you know of the successful sale of Money Dashboard via the Money Dashboard app and the registered email address connected to your Money Dashboard account. Please note that any member that does not respond to such communications by us within 3 months your member shares will be cancelled and your right to payment in relation to a successful sale will automatically expire. Money Dashboard does not log any further personal information and we are not obliged to contact you by any other means.
If the conditions above are met in connection with a successful sale, we shall take reasonable action to make payment of:
Please note that in each case the amount payable to you will be less applicable deductions.
Money Dashboard will, if it has determined in its sole discretion that you have complied with these terms, notify you following a successful sale if you have become entitled to payment and how payment will be made. Please note that:
Money Dashboard may suspend, terminate or change these terms at any time where it may do so immediately by simply updating these terms as posted on the Money Dashboard website. It is your responsibility to check these terms rather than wait for any notification by us to be provided.
We may transfer our rights and obligations under these terms to another organisation. We will always notify you if this happens and we will ensure that the transfer will not affect your rights under these terms. If such a transfer happens then all references to Money Dashboard, we, us and our, shall be deemed to refer to the other organisation.
You may only transfer your rights or your obligations under these terms to another person if we agree to this in writing.
These terms form an agreement between you and us. No other person shall have any rights to enforce these terms.
Please note that there is no guarantee that a successful sale of Money Dashboard will ever take place or when the timing of one might occur.
There is no guarantee being given on what amount you may receive on a successful sale of Money Dashboard:
Any payment in relation to a member share will depend on whether a successful sale has occurred and the number of ordinary shares and other equity shares in issue at the time of the successful sale. The number of equity shares in issue could be considerably more if Money Dashboard has to raise more equity funding, grant more options over its share capital to its staff for ongoing incentivisation purposes or grant convertible loan rights to its lenders which then convert into ordinary shares. If there are more shares in issue then the payment for a member share will be reduced as a result. The same point applies in relation to the number of eligible member shares in issue at the time of any successful sale because each payment for a member share will be diluted because the proceeds of sale will be shared amongst a greater number of individuals.
There is no guarantee that you will receive anything on a successful sale of Money Dashboard:
There is no guarantee that you will receive anything:
To receive anything there must be a successful sale where the Minimum Return Level is achieved by the ordinary shareholders of Money Dashboard. If a successful sale occurs then there is no guarantee that the ordinary shareholders will receive any return, let alone the Minimum Return Level. This is because some of Money Dashboard’s institutional investors currently hold more senior classes of shares than the ordinary shareholders and this means that they will be paid out first on a successful sale and there may not be enough sale proceeds received to ensure a pay out to the ordinary shareholders at the Minimum Return Level. This in turn means that there will be no ‘cash in’ for you on the successful sale of Money Dashboard if the ordinary shareholders do not receive any sale proceeds. If there is an unsuccessful sale of Money Dashboard we will only make a charitable contribution in line with the terms above and unfortunately you will not receive any payment from us.
Please note that member shares are not available to any member of the public and each member share is only available to a member of the Money Dashboard user community who meets the eligibility criteria referred to above.
Each paragraph of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breach of these terms, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
These terms are governed by Scots law and you can bring legal proceedings in respect of these terms in the Scottish courts. If you live in England you can bring legal proceedings in respect of these terms in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of the products in either the Scottish or the Northern Irish courts.
Updated Money Dashboard Limited 1 December 2021
