Pelican is an App that connects traders.
We are an FCA regulated app (Android & iOS) where you can trade, chat and analyze performance in one place. The aim is to become the global network for retail traders, just as Bloomberg is for institutional traders.
The Current Situation.
We believe that trading in isolation is not beneficial to performance. Our research shows traders share information via makeshift communication channels like WhatsAPP before trading elsewhere.
We integrate trade execution with communication into a central network for traders. Users can connect with their own personal network or discover and swap ideas with other market professionals.
Technically we have integrated a communications platform with a trade execution system.
Bloomberg has been successful in connecting the professional traders. Pelican is looking to replicate this model for the retail trader.
Use of funds.
Pelican is a product-led company - the majority of funds will be spent on development.
Development projects include, but not limited too:
- Optimising the current App
- Allow connection to MT4.
- Allow connection to other brokers.
- Build Flamingo (sports betting version).
- Build desktop version.
- Build asset management offering (auto-copying).
- Introduce share dealing (in addition to FX & CFD trading).
As this is a pre-emption campaign open only for existing shareholders, minimum details are being provided. More information on Pelican Trading can be found on the company's website or by downloading the supplementary document. Please note, this information has not been verified or approved by Seedrs.
The Company has raised 2 rounds of investment, on which Seedrs investors have pre-emption rights:
November 2016: £566,200 investment at a £0.08 share price.
December 2017: £1,007,193.67 investment at a £0.1247 share price.
Because 2 rounds have occurred (at 2 different share prices) since the Seedrs investment, this pre-emption round is being run in a slightly different manner:
> This campaign is being run at the lowest share price of £0.08.
>Investors may invest as little or as much as they like in this round. However, if the aggregate pre-emption rights for Seedrs on the November 2016 investment are exceeded, then investors may be scaled back.
> If this campaign is oversubscribed and investors need to be scaled back, we will then open a new campaign at the next share price (£0.1247) to allow investors to take up their full pre-emption rights across both rounds.
The email sent to each investor sets out:
- your minimum pre-emption rights at the £0.08 price (ie your secured allotment for this round); AND
- your pre-emption rights over both rounds - ie how many shares you will need to purchase across both rounds to counter the dilution of the raises.
For those looking to counter dilution across both rounds, you are welcome to subscribe for these shares in this campaign. Depending on demand from other investors, your full subscription may be accepted at this price or may be scaled back as above.