Frequently asked questions

1. I live in India, China, Brazil or any other country, Can I own shares in ChatWise?

Yes, anyone can own shares in a UK based company.

2. Will I be required to pay for any shares that I win?

No, ChatWise Trust has committed to give these shares complimentary. Chatwise will never ask anyone claiming shares for any money. Please do not share any bank details with anyone in relation to ChatWise shares.

3. Can foreign nationals be shareholders in a UK based company?

Yes, anyone can be a shareholder in a UK based company.

4. How much equity will ChatWise community own?

ChatWise Trust holds nearly 60% of all outstanding shares as at 15 January 2024. All these shares have been set aside to be given away to the beneficiaries. There are restrictions placed on creation of any new equity (see Trust documents) to ensure beneficiaries control a meaningful share of atleast 40% to be genuinely community owned and have a meaningful role in the governance.

5. Can I sell my shares? When?

If public continue to download and use ChatWise apps, and company continues to grow, value will increase simply by nature of how stock markets work. You will be able to sell shares at a future point when company has undertaken an IPO. Please note this is not a 'get rich quick' scheme. Chatwise is an early stage company and the value of shares will depend on the number of people switching and using ChatWise apps. Chatwise Trust will be open and transparent about the usage and give its shareholders regular updates.

6. Will ChatWise ask me for my bank account details?

No.
Chatwise Trust is obligated to give shares complementary in line with the purpose of the company. Please do not give your bank account details to anyone on behalf of the ChatWise. The ONLY way to receive ChatWise shares is by downloading and using ChatWise android or IOS Apps and using the mechanisms defined within the app or on our website ChatWise.co.uk

7. How will Chatwise community play its role in the governance?

ChatWise follows a different corporate governance structure (on the right below). Shareholder Community, as majority shareholders in the company, will sit above the ChatWise board and make recommendations, just like a jury does to a Judge. Key decisions, like changes to algorithms or new features, will go to community in voting format. Results of these votes will be shared with the Board before they make decisions. ChatWise will be open and transparent and publish some of these papers on our website in the public interest.

Board will clearly make their own decisions but they will consider recommendations of the community. As shareholders, we believe that interests of our community are aligned with investors. Collectively and democratically, company will make better decisions.

8. What price will the company pay to buy shares back before an IPO?

If the company announces a buy-back programme, the Board of the Company will determine the price based on the number of active users, growth rate of users, growth projections and other factors that will aim to reflect the fair market price of the business.