English

Sellling Fairphone Depositary Receipts

Dear Fairphoners,
I`d like to sell my Fairphone Depositary Receipts/shares (converted oneplanetcrowd loans) worth 1000 Euro.
I would possibly sell them for less than 1000 euros.
However, the approval of the foundation board would have to be obtained beforehand.
That’s why I wanted to ask if anyone would be interested?
With best wishes
Stranamore

Hi I’m interested though I have no idea what they really are etc. but I feel I could make a commitment to Fairphone.

If you get someone who knows what they are doing go with it otherwise you could send me a private message.

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I think you should clarify that we are talking about shares from this crowdfunding campaign:
https://www.oneplanetcrowd.com/en/project/200324/description

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I have just looked up my own depositary receipts and it turns out that the value is slightly more than what was invested, because of interest accrued in the period between investment and conversion. My €250 became €254 due to interest and that was rounded up to 71 receipts of €3,60 each for a total of €255,50.

You should have received an e-mail on the 22nd of March, 2019 detailing how many receipts you got exactly, but thus likely slightly more than the original €1000 in value.

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Thank you very much Albert for your remarks -
In fact, according to the information I received in march 2019 these are 282 depositary receipts (shares) worth 1015.75 Euro

Hi, I was just lookin at my Depositary Receipts from Fairphone as well and wandering if (or when) and how I could sell them. Also if they changed in value or not?
Cannot find much in the email that tells on how to sell them or even on the website.

So are they worth still the same and how can I sell them? I have 71 of them (converted from €250,-)

Upon conversion you should have received the file “Annex_2_trust_conditions_of_STAK_Crowdfunders_FairPhone.pdf” which outlines the conditions, in this case article 4 is relevant. If you don’t have the file anymore, PM me for a copy. The bottom line is that you need to notify the foundation of the new owner.

The price is determined by the market. Each receipt represents 1/6.999.900 of the company Fairphone, without voting rights but with the right to receive dividend if Fairphone pays any to its shareholders. At the time they were issued, there was an investment round into Fairphone by a number of large investors who valued them €3,60 each when they still represented 1/6.515.800 of Fairphone. However as Fairphone sales for 2018 were lower than expected these investors reduced their valuation to €2,93 each which means that you received additional receipts on 5th March 2020 to make up the difference. This means that you should have 87 of them now.

(@stranamore: I’d also encourage you to check for the e-mail of 5th March 2020, lest you are selling too few receipts by accident.)

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Thank you AlbertJP, Found both the file and the additional ‘anti-dilution DRs’. 87 in total as you said. Will these DR’s change in value or start turning dividend any time soon? I have not heard much from Fairphone lately.

Have a nice weekend!

Depends on the financial results of Fairphone. As investor you get financial information every half a year to see how the company is doing. The statement for H2 2020 is not yet there; it should be there within a few months. (They are confidential so I won’t share the contents here on a public forum.)

The value is not set, it depends on what the market wants to pay for Fairphone shares, which are not freely tradeable so only in large investment rounds like the one a year ago you actually see the present value of the company.

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