Fuck this has just left me feeling confused.
I agree. Especially confusing is that the email says that they are "confident" that they will be able to get the launch money. Whereas the media briefings and the website claim that they have actually got the money already.
So which is it? Is it definitely available? Or is it hopefully available. There is a huge and important difference.
Also when they say a share issue, they mean chuck your 500 quid into an account until there is enough to make an offer, I assume?
Yes.
As you can't sell shares for something you don't own.
Obviously anyone needs to read the fine print to check they're happy before sending off any money. But the theory is that you would always own something.
Say you and your mate each throw £500 cash into a hat. You can say you each own £500 out of the hat (let's say yours was all £20 notes and his was all £50s, and so you can get your exact notes back if you want). Or you can say that you each own half of the £1000 in the hat. Either way, you're not poorer just because you have put your money into a pool. And it aint difficult to get your cash back either.
once that £1000 is used to buy something (a car, say) it is a bit different. You can't get your cash back so easily. But you own a half share in a £1000 car instead of a half share of a pool of £1000 cash.