How much of imutual you own + updated FAQs

[kevinchess1]

Is the £10 comin out of Imutuals coffers
or RY's deap pockets?

[kevinchess1]

imutual's. I don't benefit in any way, as the staff % ownership of the company is fixed at 10%. Existing member shareholders, like yourself, do benefit though, because when cbl's shares are transferred back it gives you a greater effective ownership of the company.

[cccashbacklover]

[quote="richard@imutual it hardly seems worth going through the rigmarole of a rule change just to allow a charity to receive something that supposedly has no value It would also undermine the principle that imutual shareholders should be active members of the site

[/quote]


Richard – Reason for Charity of your choice proposal – no rush – have time to have a think about how best to incorporate Charity into I-Mutual was of course I didn’t plan to just hand the shares back so that they could be recycled.


Holding the shares themselves are not a problem, the joke is how they ( something which to the majority will possibly never ever have any actual value) are being used on MSE as a marketing tool to try and recruit new members to the site and/or blatant promoting – Hence the deleted thread/posts and negative replies


Richard: From your time running CBK and R-Points do you agree this is the case :

“In addition most Cashback sites form policy/change policy based on user feedback/what they read on MSE/what other sites/competitors are doing etc anyway.”

[cccashbacklover]

Is the £10 comin out of Imutuals coffers
or RY's deap pockets?

I havent agreed to it and wont be agreeing to it My proposal/offer didnt mean I-Mutual getting the shares back

[richard@imutual]

Mmm, well now I'm a bit confused about your motives for this gesture

You use the idea of charity donation, so presumably you want a charity to get some benefit. You offer to transfer shares to them and yet by your own admission you value the shares at zero.

So putting aside the considerable complications this might cause for imutual in looking at rule changes etc to accommodate this one-off transfer, you would also have the charity expend time in order to administer the share transfer and subsequent shareholder duties. Given the choice, do you think the charity would prefer to receive a £10 donation or to go through the bureaucracy of receiving a shareholding considered worthless by its donor?

And then you seem to object to the idea that the shares gets returned to imutual (which is the one procedure explicitly permitted in our T&Cs). The only people that would benefit from that are your fellow imutual members (as their effective % would increase), not me or the company as a whole. Which seems rather mean all around

[cccashbacklover]

[quote="richard@imutual"]Mmm, well now I'm a bit confused about your motives for this gesture

quote]


It is you who appears to believe that I-Mutual will be bought in the future with Shareholder value/payment so if that was to occur then a recognised charity of your choice would indeed benefit from my shares being donated to them

viewtopic.php?f=2&t=8404


“Just because the shares are not listed does not mean they are "worthless". It just means you have to wait for someone to make an offer for the company before you can realise their monetary worth”


On a lighthearted note I thought 10.00 was a bit mean

[richard@imutual]

I have a duty to act in the best interests of imutual shareholders. On the basis that you are offering to transfer your shares for nothing, I thought you'd consider £10 to be quite generous. Are you now changing your mind and valuing your shares at more than that?

Anyway, back to my unanswered question....

Why are you insisting on a transfer procedure which would appear to be the worse option for the charity, imutual and its members?

[cccashbacklover]

Anyway, back to my unanswered question....

Why are you insisting on a transfer procedure which would appear to be the worse option for the charity, imutual and its members?

I am not insisting on anything, I merely answered your Forum question and also made a suggestion so that a Charity of your choice might possibly benefit from your venture and my Shares that I have earnt to date and from future earnt Shares – I did say there was no rush- if the charity donation offer isnt something you wish to do at this time then we can keep things as they are - Offer was to donate my shares to a recognised charity of your choice and to continue donating shares that i earn, offer wasnt to transfer them -


Anyway, back to my unanswered question....

Richard: From your time running CBK and R-Points do you agree this is the case :

“In addition most Cashback sites form policy/change policy based on user feedback/what they read on MSE/what other sites/competitors are doing etc anyway.”

[richard@imutual]

Sure, I'll give you a direct answer (something sorely lacking from this thread!). Yes

I didn't answer before because:
a) I wasn't sure of the direct relevance to the question topic at hand
b) It seemed as though you were trying to divert attention from the original question

I note you still haven't directly answered my original question - "What value do you place on your imutual shareholding?". Of course, the clear implication from everything you've said here and elsewhere is "zero" but it be nice to see you clarify that explicitly

At the risk of appearing to be Jeremy Paxman to cbl's Michael Howard, I do need to point out that you still haven't answered the essential contradiction....

I'm perfectly happy to choose the charity to benefit. But why, having raised the idea of a charitable donation, do you insist on giving them shares which you consider to be worthless (and time-consuming to administer) rather than a £10 donation?

In fact, I'll make a further proposal to you. We'll give the charity the choice - £10 cash now (my proposal) or all of cbl's shares now and in the future (your proposal)? If the charity opts for the latter, I agree to organise any necessary imutual rule changes

[cccashbacklover]

I-Mutual shares have no apparent current value to me nore I suspect the majority of I-Mutual membership

Reason for this question

Richard: From your time running CBK and R-Points do you agree this is the case :

“In addition most Cashback sites form policy/change policy based on user feedback/what they read on MSE/what other sites/competitors are doing etc anyway.”


Was due to this being suggested by you and others as a value of I-Mutual Shareholding ( I am saying it would/does happen anyway without the share holding factor)

The site is owned by its members so if people don't agree with this (or any other) policy then they can put forward their arguments for discussion. This could lead to a policy change if the majority of members wanted it


You have agreed

“In addition most Cashback sites form policy/change policy based on user feedback/what they read on MSE/what other sites/competitors are doing etc anyway.”


My offer/suggestion wasn’t/isn’t that either me or a charity are paid 10.00 – my offer/suggestion was/is that my earnt shares are officially donated to a recognised charity of your choice or a I-Mutual charitable foundation is set up and that future earnt shares by me would also be donated by me to it – If that isn’t something you wish to do at this present time then my wish is to keep things as they are. ( My offer/suggestion wasnt that I would become a non share earning member)

I made a suggestion to which you responded to with a completely different suggestion which I dont wish to agree to.