Member Info for davwal

Hopefully, the fact TA is still in position - for now - means there will be an orderly resolution to the Medichem debacle and accounts adjustments, with him being allowed to leave with an element of dignity.

If BOO ‘swoops’ I’m sure they’ll still be in a beauty parade.

FCA have had plenty of time since the investigation concluded to investigate the company themselves. So far nothing, and the F word hasn’t come up officially.

I've reminded myself of the long list of irregularities comprising the investigation results, and I must say it brings one back to earth a bit. The stock fiddles and significant over statement of sales to two distributors by rigging the figures approaching year end leaves a big question about true trading levels since listing. Holt also stressed the tough market at the time of the results being published. Hopefully there's a decent adjustment of the purchase price for Medichem. All in all, its still been a serious and materially damaging mess and I won't be expecting a quid sp after a couple of days trading! I remain positive for the future though.

If only because of BOO taking a crafty wedge and anticipation of an offer from them, there will be plenty of buyers scrambling to get in cheap - assuming the situation isn’t disastrous.

A little update (in the absence of any official announcement) regarding my wife’s product trials. She has so far tried and been VERY impressed with the Rev Pro tinted moisturiser. Believe me, that is high praise indeed! (And her comments were entirely volunteered, not given in response to me asking leading questions.)

As to my girlfriend, she says given she needs to shave twice a day, she doesn’t feel inclined to try any silly cosmetics…

The company has been doing a good job of keeping its day-to-day business very close to its chest while in purdah. However, there seem to be no obvious signs of it struggling, and in fact there are little signals it’s doing okay - even very okay. The ‘outlook’ section in the relaunch update could be very positive, particularly regarding the States.

I too want £££££s..!

My wife, who has very particular make-up requirements but hadn’t really looked at Rev - and without a word from me - has just been reading a Rev Pro skin care product recommendation (Saga mag) and then the product reviews online. Result - she is at this moment ordering…on a 3 for 2 offer with Superdrug! Fingers crossed she’s impressed…

Traders’ Paradise at the moment. Hopefully Friday doesn’t bring a big pre-weekend sell off, which so often happens when stocks are in a state of flux.

Okay, that’s a cpr done, but I’m still concerned why none of the majors, who allegedly were lining up to farm in, have actually committed despite one being in final negotiations in December? Hill didn’t sound very positive about any developments in the short term, either.

Oops, Correction- ‘hasn’t’ been a significant influx.

That same market volatility was what was to be the appeal about BOAGF - it would insulate investors from market risks. Therefore, in theory there should have been a surge over the last twelve months more than offsetting natural churn. Clearly there has been significant influx despite the favourable conditions (for such funds). The company should report consistently, not just when it’s good news. That’s simple good practice - well, more a requirement for listed companies.

The updated value stated on 28th Feb last year was almost £50m. That was a key threshold they said. So if the broker’s piece is correct it’s now down £5m. That perhaps explains the apparent reticence to mention it yesterday.

The question regarding the missing fund value update seems completely reasonable. Last year on 2nd Feb the company provided a comprehensive update of BOAGF values and returns via a dedicated RNS. This year, zilch. A notable reporting inconsistency at the very least that beggars the question why, given it’s such a keystone of the business.

Could be that resolving the Medichem affair is what’s been behind the long process. I wonder how much they ‘materially’ overpaid compared to the new valuation - 2x even..?

Good presentation! Should be a positive influence.

Well they still believe they have a significant discovery.
'This presentation reflects recent developments, with particular focus on the significant gas and oil discovery at Pensacola on Licence P2252 in the Southern North Sea'.

After all this time you’d think they’d want the hoped-for purchase price adjustment nailed down, in order to incorporate the figures into the readjusted multi-year accounts. Leaves an incomplete ‘correction’ otherwise. That certainly wouldn’t be ideal. Keep the pressure on, guys.

I can only imagine there’ll possibly be another refresh at top management level before too much longer.