Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
I think Lake leaving will also be as a result of the negotiations with Minto and Allsworth. Minto at least voted against her at the AGM. Boohoo have had opportunities to remove her but didn't so I think this will be a mutual agreement. She has done well and been rewarded.
I still believe Minto is trying to negotiate a future role at the business, which I dont believe is in REVBs best interest. FCA would likely agree. Disappointing REVB is now controlled by Boohoo, and to some extent Minto and Allsworth. But as Lake has stated, the business is profitable.
I sold down some shares yesterday morning as I wasn't happy with the settlement agreement
and to derisk / re -balance the portfolio, but still believe the business has much potential, if everything is genuine.
Struggling to make sense of this Settlement agreement and how we've gone from overpaying for Medichem to paying their legal fees? Plus the new revised payment terms means it could take 14 years before TA gets the full balance based on current numbers!!! Unless there is a takeover...
Going back though the independant investigation and revaluation of Medichem found that Revolution were basically buying product third party products through Medichem at a marked up price to boost Medichems profits in the years prior to being acquired (at least £350k pa).. products that Revolution previously bought direct from suppliers therefore increasing the valuation. All in TA's interest. Agree this is positive for cash flow but once again feel previous directors are getting off lightly.
So no revised valuation of Medichem and now we are paying TA legal fees and giving him a future role within the business? Shocking.
Can't wait for Minto's settlement agreement and future role within the business to be announced.
Disappointed to see Elizabeth Lake go.
At least the business has some more headroom in terms of finances.
And the share price is down 4.5% as we speak!
I thought the results were good. Bob Holt and Elizabeth Lake done a good job getting the business back on track. Now to focus on profitable growth. Market might wake up one day after a few more positive updates.
Agreed. The share price has rallied before results many times now. It would be nice for tomorrow's results to show the business is in a more stable position, back to steady growth and profitable. Not too much to ask?
I've been quite critical of the silence from the CEO, however considering all of the issues the business has faced in the past year or so, I think it would be a little naive to try and field questions 2 months into the job, first role as CEO, especially when they would likely be heavily focussed on past issues. Bob Holt as a seasoned pro I would have expected too and easily held his own. At least they are doing a presentation instead of just releasing results via RNS. Trying to stay positive!
Just like being in suspension. I'm sure Boohoo are kept up to date so that's all that matters to them. I notice there have been no new products released for weeks either. CEO is absent. Is the business still active??!! It's as if the business is being ran privately just for Boohoo. Interims should be due this month. Frustrating.
I have sent 6 emails to Investor relations over the last 2 months and not one response. This was always a concern when Boohoo took control of the BOD and the new CEO has zero experience running a PLC. Unfortunately private investors are of no interest to the board of directors. Disappointing but as long as they get their free share options what does it matter!
There was a recent interview with Bob Holt and Zeus Capital (Revolutions Nomad), and he said he is still a shareholder and positive about the business. He knows the business well so this should be a good sign, obviously he is no longer involved and who knows what current management are doing, but I'm hopeful the interims (due Nov?) should be more positive.