Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBoohoo Share News (BOO)

Share Price Information for Boohoo (BOO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 35.20
Bid: 35.22
Ask: 35.66
Change: 1.02 (2.98%)
Spread: 0.44 (1.249%)
Open: 34.80
High: 35.66
Low: 34.30
Prev. Close: 34.18
BOO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Boohoo hits out at Revolution share awards

Thu, 29th Jun 2023 10:34

(Sharecast News) - Boohoo Group has criticised Revolution Beauty Group for granting free share options to its executive management team, just days after they were ousted and then immediately reinstated.

Boohoo, which owns 26.6% of the cosmetics group, called on Revolution to publish the terms of the free share awards granted to chief executive Bob Holt and chief financial officer Elizabeth Lake.

It also wants Revolution to confirm publicly that the proposed terms were not amended after Boohoo's announcement, made on 19 June, that it would be voting against their reappointment at the annual general meeting, held earlier this week.

The online retailer argued that no investors had been consulted prior to the awards being granted, despite them representing a 3.4% dilutive impact for existing Revolution shareholders.

It continued: "The only disclosure Revolution Beauty has made around the terms of the free share awards prior to today's announcement is five sentences hidden in its annual report.

"This all demonstrates a lack of transparency and actions which are self-serving and not in the best interests of shareholders."

Revolution and Boohoo locked horns after the fast fashion retailer called for Holt, Lake and chair Derek Zissman to be removed and replaced by Alistair McGeorge and Neil Catto as interim executive chair and chief financial officer respectively.

McGeorge is Boohoo's deputy chair, while Catto is a previous executive director of the retailer.

A majority of investors voted to remove Holt, Lake and Zissman at the AGM on Tuesday. However, they were then reinstated after the meeting by independent director Jeremy Schwartz.

Revolution, which has been rocked by an accountancy scandal, has called Boohoo's actions "value-destructive, opportunistic and self-serving". It has also accused Boohoo of trying to take control of the business without buying it outright.

Revolution was thrown into crisis last summer, when its auditors questioned its financial accounts and it failed to published 2022 annual results.

Trading in its shares, which were suspended at 19p in September, resumed on Wednesday. As at 1015 BST on Thursday, the stock was up 6% at 26.05p, while shares in Boohoo were down 1% at 34p. Both companies are listed on Aim.

Boohoo said that the share awards - worth around £2m on readmission - had been made to Holt, Lake and 16 other members of the management team. It said the team had "worked tirelessly for the last 10 months towards resolving the historical issues which have resulted in many detrimental outcomes for the company's shareholders and other stakeholders".

More News
9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
8 May 2024 10:44

AIM WINNERS & LOSERS: Mobile Tornado wins deal; boohoo loss widens

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

Read more
8 May 2024 10:18

boohoo shares slide further as annual revenue falls in UK and US

(Alliance News) - boohoo Group PLC on Wednesday reported a wider loss in its recent financial year, despite a focus on improving profitability that reduced revenue.

Read more
8 May 2024 09:39

LONDON BROKER RATINGS: UBS raises Centrica to 'buy' from 'neutral

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
8 May 2024 09:07

LONDON MARKET OPEN: Informa raises buybacks; OSB and Wetherspoon rise

(Alliance News) - Stock prices in London opened up on Wednesday, shaking off New York equities treading water and Asian stocks trending lower overnight amid a lack of economic data.

Read more
8 May 2024 08:48

Boohoo's annual earnings fall 7% after sales slump

Core earnings of 58.6 mln stg at bottom end of guidance

*

Read more
8 May 2024 07:51

LONDON BRIEFING: Informa ups share buybacks value; boohoo loss widens

(Alliance News) - The FTSE 100 in London is set to open up on Wednesday, while New York equities closed mixed overnight and Asian stocks trended lower amid a lack of macro catalysts.

Read more
8 May 2024 07:19

Boohoo full-year losses widen amid 'challenging' trading conditions

(Sharecast News) - Fast-fashion retailer Boohoo reported a widening of its full-year losses on Wednesday in "challenging" trading conditions, as it was hit by inflation and weaker demand.

Read more
1 May 2024 13:49

UK earnings, trading statements calendar - next 7 days

Thursday 2 May 
Endeavour Mining PLCQ1 Results
First Tin PLCTrading Statement
Hiscox LtdTrading Statement
International Personal Finance PLCTrading Statement
Kerry Group PLCTrading Statement
Lancashire Holdings LtdTrading Statement
Melrose Industries PLCTrading Statement
NAHL Group PLCFull Year Results
Reach PLCTrading Statement
Shell PLCQ1 Results
Smiths News PLCHalf Year Results
Smurfit Kappa Group PLCTrading Statement
Spectris PLCTrading Statement
Standard Chartered PLCQ1 Results
TI Fluid Systems PLCQ1 Results
Friday 3 May 
InterContinental Hotels Group PLCTrading Statement
Mondi PLCTrading Statement
Trainline PLCFull Year Results
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Arecor Therapeutics PLCFull Year Results
BP PLCQ1 Results
Ebiquity PLCFull Year Results
IWG PLCTrading Statement
Kosmos Energy LtdQ1 Results
MaxCyte IncQ1 Results
Trident Royalties PLCTrading Statement
Vaalco Energy IncQ1 Results
Wednesday 8 May 
Alliance Pharma PLCFull Year Results
boohoo group PLCFull Year Results
Brighton Pier Group PLCFull Year Results
Cornerstone FS PLCFull Year Results
HydrogenOne Capital Growth PLCTrading Statement
JD Wetherspoon PLCTrading Statement
Light Science Technologies Holdings PLCFull Year Results
OSB Group PLCTrading Statement
Renishaw PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
29 Apr 2024 10:02

LONDON BROKER RATINGS: Deutsche Bank likes Frasers; Barclays cuts JD

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
27 Mar 2024 17:03

CORRECT: Revolution Beauty set to meet annual earnings guidance

(Correcting that Revolution Beauty previously predicted low-single digit growth and that financial 2023 revenue was GBP187.8 million)

Read more
27 Mar 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 underperforms ahead of US PCE data

(Alliance News) - Stock prices in London were lower at midday on Wednesday, but trade was more confident in mainland Europe, with focus turning to the release of the US Federal Reserve's preferred inflation gauge on Friday.

Read more
27 Mar 2024 11:58

Revolution Beauty set to meet annual earnings guidance

(Alliance News) - Revolution Beauty Group PLC on Wednesday said it expects to meet earnings consensus for its financial year, despite forecasting low-single digit revenue growth.

Read more
27 Mar 2024 10:04

SMALL-CAP WINNERS & LOSERS: CMC Markets ups outlook; Asos falls on CMA

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

Read more
27 Mar 2024 09:49

UK regulator secures ASOS, Boohoo and Asda pledge on green claims

Firms agree to use only accurate and clear green claims

*

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.