Dozens Trust Bond - Second Issuance


#1

Hi Guys (@robert in particular) - any update on when we can expect the second issuance of the trust bonds to become available for bidding?

Anyone been able to do some maths magic and have an idea of total number of current customers to help with gauging how much to put into the next bid?? lol


#2

I think this issuance is £1m and not £100,000 so I don’t think you’ll have a problem with your bidding!


#3

I think people will see the figures from the first issuance and the fact that everything went smoothly and will feel more comfortable investing more this time which means I think there will be a chance of people not getting what they wanted if they bid too high - but I guess we’ll see!


#4

I’m not sure on account holders but we’d need 10,000 to bid £100 to reach £1,000,000.

From what I can tell I think Dozens are encroaching/ working towards the 1,000 account holders mark so average bid would need to be £1,000 - I know there was a very large bid of £20,000 in the last round but this really isn’t what the bonds are designed for.

I think that for this £1m round I think most bids will go through (unless you bid extremely big) - and then once we return to the £100,000 rounds you’ll be lucky to get £300+ through.

Just my opinion anyway.


#5

The figures from the last round showed the median bid to be £500 and there must have been at least a few who went for £3k+ in order to have reached the £91k with 62 successful bids and with the confidence of the first issuance completed and the fact we have more people onboard now I think this will be an interesting one to watch!!


#6

I think its an outlier, as will be the March issuance, purely on the fact that numbers currently are low and the next issuance is so large - also now some of the haze has cleared on tax liabilities on them and the on-boarding process speeds up the bid you’ll be able to get through will decrease.

I’ll keep putting in what I can (avr. £200 a round) until that stops and £100 is the only way to go.

The bidding process is great though as it really encourages small savings plans and incremental increase in overall savings.


#7

Is there a date for next round?
I’ve just got into the app. Looks great.


#8

From what I’ve seen it should be today but doesn’t appear to be live as yet.


#9

Ok thanks. I’ll keep an eye out.


#10

Not for me yet


#11

Been pushed to next week. Rob has posted somewhere


#12

Ah, OK. Couldn’t find any mention on here


#13

Was on monzo forum


#14

Thanks.

I posted here too, but this was not visible to all so reposting here:

The first bond details are now public and we are working on improving a couple of aspects of the buying process (particularly the reminder to have money in Cash Savings in order to be able to buy before you start, so you don’t have to do the process twice).

The T&Cs have been clarified too, but while the PDF is correct we now also need to make sure we add these to the app.

There’s a scheduled app update on Monday so you will probably see the March issuance go live at the same time - so Monday or Tuesday (depending on app store approval processes).

Until then there will be no bond to bid on, so don’t worry if you don’t see it.


#15

Sorry I thought you did but couldn’t find it.


#16

not at all - thanks for replying :slight_smile:


#17

Some further news, including dates for this release

As you know, there will be £1m worth of Trust Bonds in this issuance. The additional clarification is that there will be £250k-£500k of this reserved for customers who may soon be Seedrs investors.

We had expected to get all the app changes made by tonight. Unfortunately there are a few items outstanding, and based on the feedback from users in the test run, it was felt that it was not right to repeat known issues with such a large and important issuance.

In addition, there are many customers, including investors, who are hoping to complete their application and get codes to be able to take part, so we need to also focus on getting as many as we can into the app.

We have therefore decided to delay the issuance until next week’s app release so we can be sure that the changes are made. The new app release is planned for the 11th, but since Apple can take a couple of days to review and approve each release, it may be 12 or 13 March before the bonds are visible in the app.

So look out for the Trust Bond issuance next week!

The closing date will still be the 25th of March to give time for bid allocation and listing before the end of the tax year.

We are sorry for the added wait but it gives access to more customers and a better process overall.


#18

Thanks for the update Rob - I think making sure everything goes really smoothly is more important (and obviously getting in as many customers as possible!).

Could you just elaborate on this part a little more?

Does that mean that there is £250k-500k for Seedrs investors that is effectively “blocked” for non-investors with the remaining £750k-500k for non-investors?

If I were to invest do I get two chances to bid?


#19

Good question

There will be an amount notionally reserved so that investors (some of whom will only know later in the month what the details are and whether this is successful) have a portion of the issuance to bid for.

Of course we also want to make as much available to all customers too, whether investors or not, so we are fair to as many as possible.

You will only be able to bid once for this issuance.


#20

Okay great thanks for clearing up - I’m guessing this is to allow investors who aren’t in the app yet/ awaiting codes can get in on the sweet sweet 5% bonds.

Makes it fair for all - both new and older, especially with a £1m issuance.