Member Info for Hosai

If we can just get rid of the boo uncertainty, (hopefully they come to a compromise and stop acting out a succession story line) then there's only so long the valuation/fundamentals disparity with other beauty brands such as with warpaint and ELF beauty can last, market will price it in eventually.

I it wasn't legal Rev B wouldn't have done it. Maybe boo would be better off just focussing on boo instead of suing one of the companies they are invested in?

Why couldn't they just wait one month for the new proposed AGM to give shareholders more time to make such a sudden out of the blue and big decision, its almost like they wanted to avoid something occurring that happened today.

Agree OSG, it's just being held back on uncertanty regards to boo. It's a total bargain on fundamentals when you compare to beauty brand peers.

After the management incentive shares being added, boo in terms of the shares we know about would have 26.6/70.72 = 37.6% of the eligible vote in late July/early Aug (assuming founders abstain again) so not a slam dunk.

Also founders could sell their holdings to a large beauty player.

If boo are selling great, imo they are the only things putting a dampner on things.

Just look at the fundamentals here to share price verses ELF and warpaint. Warpaint still valued double current Rev B sp on less than half the revenues.

ELF at £4.65 billion market cap at around 2.5 times the Rev B revenues speaks for itself (admittedly prob around 7 times the EBITDA - better margin). Still if we can have a 7th of their market cap (£664 million or 218p a share) I wouldn't complain.

Assuming the founders abstain again at next vote it would mean a maximum of 68.4% can vote.

Add in now the management incentive shares of 3.4% I think it puts the total to around 70.72% who can vote.

This would mean boo in terms of the shares we know about would have 26.6/70.72 = 37.6% of the eligible vote.

However they prob also have Kamai and Moulding private holdings etc so lets say 40% (not sure why Moulding would be voting with them but it appears that way with Rachel Horsefield appointment).

Therefore, clearly it's not a slam dunk. I'm not even sure boo can keep buying too much, are they allowed to buy using their revolving credit facility? Might be frowned upon by the lenders.

If it can be arranged that one or both of the founders sells their stake to a larger player by Aug 7th who would vote with Bob et al then boo are likely out of the picture.

Has to get to 70p odd just to match warpaint who are on 75 million odd revenue, rev b around 200m.

Rev b much bigger brand online and crucially big in us with its launch into Walmart, also in walgreens and target obv.

Then take a look at elf beauty...around 4.65 billion market cap! Rev b only around 100m.

Both have large precedence in us retail.

Amazed it's opened this low but it's likely the effect of boo lurking, imagine where it would be without them after 60% rev growth q1?

If one of the founders sell their shares to an other party by Aug 7th then boo are out the picture

Can't buy on HL

Has to get to 70p odd just to match warpaint, revb should be above them

Lol davey...don't think many are looking to sell. They just reported 60% revenue growth q1

If a large buyer can be found to take on the founders shares by Aug 7th then boos quest will be even harder.

Management incentive shares have already helped lower their influence for the next vote.

Management getting their 3.4%, even more shares boo woukdnhave to buy if still the plan. Not sure if/ how much they can buy via their revolving credit facility?

Boo careful to say through gritted teeth they are pleased it will be re listing lol

Great news and arguably also good news from boo rns looks like the management incentive dilution share of 3.4 percent will still go through. Wouldnt normally hope for this but for obv reasons am happier this time.

Would be surprised if this doesn't open tomo - they even put it in bold to stand out: "the Company expects that the suspension of trading in its shares will be lifted imminently."

Cusp of the cusp of the cusp means tomo.

If we come out of the auction high then boo are going to struggle to buy in bulk (no jupiter offloading to help them now).

They have 26.6% maybe almost 30% with Kamani/Moulding.

If the founders do sell to friendly to Bob parties then boo would need to buy at-least 20% more at much higher prices. Not sure they are even authorized to keep buying currently as their cash is mostly in their RCF loan?

Boohoo managed to buy about 12.8% Rev B shares in the space of 2 and half weeks (mid to end of Aug). Then later seperetely bought 13.6% direct from Jupiter in suspension I believe to take to 26.6%.

Don't see why a larger player couldn't acquire one of the founders holdings by Aug 7th (still have 6 weeks or so till then). If they can't vote etc anymore I doubt they are going to be holding them for too long. Zissman and Holt I'm sure will be assisting in advertising to buyers.

There are much bigger players £wise than boo out there and the founders will sell to the highest buyer.

#one of the founders

If one of the holders sells to a large player before August 7th then that would be great for Bob and likely us (assuming they were more friendly to him than boo which seems likely). They would sell to the highest bidder. Wonder if Bob is trying to get such a deal to happen by leveraging his contacts? Is the capital markets day no longer to happen?

#60% increase in revenue (not shares)