The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Hosai, I suggest you check out the share bb with the ticker ITS, now named Itsarm but was previously “In The Style Group”
Check out the RNS’s from:
7th Mar 2023 - Completion of strategic review
This is how I suspect BOO are planning on playing this out with REVB should they take over the BOD.
It was like daylight robbery what happened over at ITS and until it happened I didn’t think it was even possible
Again, an excellent view point from momajid
Thank you for taking the time to give us your thoughts on this.
Are you currently a revb shareholder yourself? Momajid?
Silverlight I'm not sure if you're being purposefully difficult here or what, but if you know about the company ITS and what the founder managed to do to its shareholders, then we wouldn't be discussing this further.
READ THIS CAREFULLY...
If BOO take over REVB BOD, the company won't even get as far as administration before BOO buy out the company on the cheap! As you state, if the company goes into admin, it will wipe out all shareholders including BOO and give them no favourable terms to buy the company on the cheap.
The way they will take this company is by knowing that the lenders will take away their support, they will then RNS that the only route to save the company from going into administration is by voting for BOO to buy up REVB assets (which will conveniently be around the amount that covers REVB debts) and any remaining funds will be distributed to REVB shareholders.
They would put this vote to shareholders and be successful, as they only need 50% of votes cast, of which BOO and the founders have between them
Silverlight, I'm not sure if you fully understand the seriousness of this situation as stated in the latest RNS.
If BOO is successful in throwing out the current BOD and replacing with theirs, it's likely REVB's current lenders won't be supportive, as such REVB would be facing administration.
It will be at this point that BOO will come in as a knight in shining armour and rescue the business by buying it on the cheap, whilst making it a requirement that Minto has the same shareholding in newly formed company, leaving REVB shareholders with some crumbs and a cash shell.
The company ITS managed somehow to put this vote to shareholders as an "ordinary vote" which only required 50% votes to pass, we already know that BOO and founders have enough voting power to achieve this.
Under no circumstances must we allow BOO to take over the BOD, unless you want to gift them our company on the cheap
Silverlight, take a look at the company ITS, what Iknownuffin is referring to. They haven't gone into administration but managed to shaft shareholders completely, in a way I expect BOO is trying to do here alongside REVB founders.
The only way I see out of this scenario is for some serious dilution to current shareholders, which I am more than happy to go with otherwise the alternative is to lose our investments to BOO and Minto
Respect to you momajid, I totally brushed by your message on here last week and should have given it more of my time. As you rightly said, you called this completely right, I’d go as far as to say you’ve probably got this latest message correct also.
I too would happily be diluted say 20% if it means a successful kick in the nuts to BOO
I know Bob has been quieter than we’d like, but it seems now there’s been an awful lot going on in the background that he’s been dealing with with regards to this, as I’m sure this has come as no surprise to him yesterday. I just hope his time has been put to good use so he’s prepared to win this fight for all of us shareholders
Silverlight, it is worded "potential" due to the fact that minto has time to respond to the claim and potentially agree to/make arrangements to settle the claim before legal proceedings are actioned/required
Downtime, I was referring to a different share with the ticker ITS.
Sorry I can see how this may confuse if you’d not heard of the share before
Dnwill, not strictly true, but I agree it should be that way.
ITS somehow managed to put selling the business and going private through at an ordinary resolution, which is what totally shafted it for shareholders.
Some dirty stuff goes on in these aim companies and never seems to be any consequences
Just re-read BOO RNS, where they state:
boohoo has, in addition, requisitioned a general meeting of Revolution Beauty pursuant to Section 303 of the Companies Act 2006, at which ordinary resolutions will be proposed to remove Bob Holt, Elizabeth Lake and Derek Zissman as directors of Revolution Beauty, and to appoint Alistair McGeorge and Neil Catto as directors.
Not sure anyone has noticed this but the resolutions proposed are “ordinary resolutions ” and these only require 50% of all votes cast. Dear god this just gets worse
Well I have to say this news isn't music to my ears unfortunately.
As some others have said also, I don't like BOO one bit and so would hate for them to succeed in voting the current BOD out and putting their own in place.
After seeing what happened in ITS, the way the founder managed to help shaft all shareholders by taking the company private, agreeing a low ball offer from a private firm but the deal still meant he got the same percentage shareholding in the new private company and then conveniently there was no value left to distribution to current shareholders, this situation definitely makes me nervous.
Hosai, I appreciate your input a lot on this bb, definitely found some good bits of info throughout recent months and kindly shared with us on here, but believe me when companies start the ball rolling with something like this, it's almost like it's a done deal in most cases, as they only make their move when confident they can get enough votes to pass. So my reckoning is that Boo may have been in talks with the founders and already got something agreed in principle which would see them benefit should this vote pass. This is all my opinion of course, but talking from experience of what happened with ITS, which I didn't think possible as it's blatantly obvious wrongdoing has been done in that deal, I wouldnt be at all surprised if we get shafted by BOO in some shape or form now.
I will be looking forward to the next Revb RNS which will hopefully offer some reassurance to us
Blooming heck, the way half of you carry on on this bb it’s like you’ve got all your eggs in this one basket. If I were Bob I’d also be sick to the back teeth of having to hold the hands of pathetic blubbering pi’s who barely have any kinda significant holding in the grand scheme of things, all asking the same questions and not quite understanding that he can’t give you any information that’s not already out in the public domain.
Just let them do their jobs, concentrate on things you can control, focus on your other investments if you have any and deal with what to do with Revb when the next rns comes through like the rest of us
The thing I love about dealing in shares is just how unpredictable they can be at times. Just when you think you’re sure on something, some news gets released that the market wasn’t expecting and then either boom/bust moments.
I know talks of multi bags on first day back trading may seem far fetched to some, but it can and does happen when a businesses sp has been decimated due to what the market perceived as the business going kaput, but then get a complete reversal upon news being released that proves otherwise.
One example that always sticks in my mind is the company De La Rue, during the early covid days the sp dropped from around £1.50 (which was already a drop from previous highs) all the way down to around 40p, all because the market expected them to need a capital raise etc. But then rns released which showed covid hadn’t affected the business that much at all then boom spiked to around £1.80 before settling back down to just under £1.40 odd. I know this well as I was in it when it happened, selling at £1 odd as I’d more than bagged, only then to see that I could have more than 3 bagged had I held on a bit longer!
Anyways, it’s just an example to put those right that say it can’t/won’t happen.
Pre Revb suspension no one had a clue what was wrong with the books, I remember feeling sick reading the rns that stated an independent investigation was going to take place, as I thought I’d lost the lot at that moment. As it turns out things weren’t anywhere near as bad as we expected, in fact business has only got better and better (obviously need the figures to confirm this, but it’s looking likely) so now wishing I’d not sold some of my holding pre suspension and actually wanting to buy more once back trading again. I’m sure others will be in a similar boat.
Roll on the lifting of suspension so we all can see how this plays out. Gla
I can only hope it does open this low, as I’ve pretty much written off having any chance of buying more before the sp rockets
Bloody hell Redhammy, how many shares you got in this?! Tbf I’d have a decent amount should this ever hit £2.45, but probably only a tenth of what I’d like to have for a comfortable retirement :-(
Well someone’s taken another couple of 500k blocks. Mm’s maybe going to struggle to entice more sellers to enable ph to get another 10%, but fingers crossed.
Herehopin, got me there, excellent response.
And Erebus55, there’s something not quite right about you, so enjoy your bank hol guys, be happy in the decisions you make in life and don’t blame anyone but yourselves for the choices you make. Then this site will be a happier place for all
Erm, I think you’re showing your true colours hereshopin. Why would you chose to focus on my post saying I’m wanting to build a bigger cash pot rather than the part that it also prevents Revb being sold on the cheap?
I’ve already got a good sized position in this and a decent cash pot, but I’d like to buy more than I can atm, factoring in that this may open up 50p plus before it’s not nt to buy.
You guys crying on here like big babies, grow up f.fs.
I only come on here to hopefully find some useful info that someone has kindly shared that I’ve not yet come across, ie the Walmart and primark deals to name a couple, not to see bedwetting adults that need their hands holding when it comes to their investment choices. Win some, lose some, just get on with it
Erebus55 you keep talking like this is a bad thing. Some of us on here don’t need to sell on the lifting of suspension, so makes no difference whether Revb is trading or not.
For me the longer it takes the better, as it’s clear the business is doing just fine atm, no need for a raise at present, also prevents it being snapped up on the cheap and gives me longer to build a bigger cash pot to buy some more when suspension is lifted
It’ll be either an intraday or after cop, an rns can land anywhere up to 18:30. After this long and the amount of news we’re hoping that provide in this rns, the more time we have to absorb it the better, so Tuesday could be boom time