Member Info for Okehurst1

Fair chance Mike votes with BOO to remove Bob Holt

he can sit back and let BOO get their hands dirty buying out the 2 ex directors and taking out the rest of the holders on the cheap

Mike builds up his stake in BOO- which has no debt and does he bid down the road

The Shorts have a big problem here …best to get those profits out asap

Welcome back Brother Pedro

Mute point but I’ve not looked at the articles/ remit of the 3 main II’s in RevB but fair chance they can only hold quoted shares in their portfolio

Wolf

RevB claim is unproven in court

RevB the company can’t stop the 2ex RevB directors voting against them, how do they do that legally ?

They have not even served Minto by the looks of things

BOO don’t need 2 listing fees , 2 Bods with all the regulatory tape / cost

Think about the Audit and complexities around banking for example, BOO can pick up RevB now on the cheap -as they have been doing , take the BoD which they are on with, don’t re list as no commercial reason for BOO to do so?

Why would BOO want to keep the RevB quote? Doesn’t make sense

BOO then tender for the balance they don’t own, take the offer or hold shares in a private Co

Once BOO get to 75.1% they enact a scheme of arrangement to mop up the rest

….. Crowman wait and see

Wolf,

RebV coming back to the market is looking highly unlikely

Todays RevB RNS answers the question which way are the 32% voting and why would they join BOO

They told the market they have been working with Rev B for a while - what they told us on the analyst call a few weeks ago

They will know that business inside out now.

For £18M net cash debt - that’s Rev B today they bag a load of assets a specialist manufacturing plant and take BOO into an Omichannel model and they are on control, it’s what they doubled down when RevB as suspended

Put aside RevB has just had a 8 month heavy duty forensic accounting report produced which BOO would have seen, everything we need to know we know

Game of chess …

Bob knows the 2 ex directors are voting with BOO it’s their best chance, no way are they supporting Bob Holt

Bob is activating the legal action now so the company is under pressure to continue once he has left.

Minto is reported to have sold up in U.K. and living in Turkey

The BOO CEO was talking to the press a few weeks ago saying stuff like ‘ since we acquired RevB we have understood more about the Beauty industry ‘

Slip of the tongue maybe

Ditto on the recent analyst call, there was a focus on Beauty and producing their own brands etc which they said they were light on

Today 07:00

RNS Number : 2237D

Revolution Beauty Group PLC

20 June 2023

REVOLUTION BEAUTY GROUP PLC

("Revolution Beauty", the "Group" or the "Company")

Potential legal proceedings against the Company's founder and former CEO

20 June 2023

The Company announces the following information regarding prospective legal proceedings against the Company's founder and former CEO, Mr Adam Minto, in order to provide our shareholders with relevant information in advance of the Company's upcoming annual general meeting ("AGM").

On 19 May 2023, the Company sent a letter of claim to Mr Minto. The claim alleges that Mr Minto breached his fiduciary, statutory, contractual and/or tortious duties to the Company. Certain of the matters alleged contributed to the delay in the audit of the Group's FY22 results, and to the suspension of the Company's shares from trading on AIM. The Company is looking to recover material sums relating to the exceptional costs the Company incurred as a result of the matters alleged.

As at the date of this announcement, no substantive response had been received from Mr Minto or his representatives. The Company has set Mr Minto a deadline of 7 July 2023 to respond to the letter of claim.

The Company takes these matters extremely seriously. It is important for shareholders to note that there can be no certainty on the outcome of these legal proceedings, and the Company will make further updates to shareholders as appropriate in due course.

The Company also expects to publish a further announcement in the coming days in light of the announcement made by boohoo Group plc on 19 June 2023, including regarding the Company's upcoming AGM (which is currently scheduled for 27 June 2023) and the requisition of a general meeting of the Company under section 303 of the Companies Act 2006.

Happy

It’s a top deal for BOO

Bob has cleaned it up for us

Today 07:00

RNS Number : 2237D

Revolution Beauty Group PLC

20 June 2023

REVOLUTION BEAUTY GROUP PLC

("Revolution Beauty", the "Group" or the "Company")

Potential legal proceedings against the Company's founder and former CEO

20 June 2023

The Company announces the following information regarding prospective legal proceedings against the Company's founder and former CEO, Mr Adam Minto, in order to provide our shareholders with relevant information in advance of the Company's upcoming annual general meeting ("AGM").

On 19 May 2023, the Company sent a letter of claim to Mr Minto. The claim alleges that Mr Minto breached his fiduciary, statutory, contractual and/or tortious duties to the Company. Certain of the matters alleged contributed to the delay in the audit of the Group's FY22 results, and to the suspension of the Company's shares from trading on AIM. The Company is looking to recover material sums relating to the exceptional costs the Company incurred as a result of the matters alleged.

As at the date of this announcement, no substantive response had been received from Mr Minto or his representatives. The Company has set Mr Minto a deadline of 7 July 2023 to respond to the letter of claim.

The Company takes these matters extremely seriously. It is important for shareholders to note that there can be no certainty on the outcome of these legal proceedings, and the Company will make further updates to shareholders as appropriate in due course.

The Company also expects to publish a further announcement in the coming days in light of the announcement made by boohoo Group plc on 19 June 2023, including regarding the Company's upcoming AGM (which is currently scheduled for 27 June 2023) and the requisition of a general meeting of the Company under section 303 of the Companies Act 2006.

Crowman suggest we have a decent crack to get 50% to a bagger from here over the coming months

The II Shorts are smart and they are taking profits and do the heavy lifting for us, as we know BOO is one of the most shortest stocks on the market

Next TU will be interesting

The Times today

‘Revolution Beauty, an online cosmetics retailer, revealed yesterday that its auditors had identified “a number of serious concerns” during its full-year audit. It had been told by BDO that the auditor was unable to sign off the accounts amid concerns over the provision of “sufficient and accurate audit evidence” and the “validity of certain commercial arrangements entered into by the company”.

https://www.thetimes.co.uk/article/6715b2e8-0ec1-11ee-9d84-6e8ed24abaa3?shareToken=5d99cdcaf62d3a2c831e01a6d19ba2b2

Downtime,maybe the 2 directors could sell to others but with BOO owning 27% we can guess they will pay the best price

Whoever buys the stake they ain’t keeping RevB on the market, I don’t think it’s coming back

BOO then has total $500M sales USA

With Debenhams /RevB maybe $500M global beauty sales

Their own manufacturing plant on top

suggest the Beauty arm of BOO above combined is worth close to the current m/cap today

I reckon BOO will pay the best price to the ex directors and Shorts worked this out pretty quick yesterday and have commenced taking profits

Wolf

You and I are looking at this differently- which is fine -

suggest we can park the re listing as it looks like it’s not going to happen.

BOO have not gamed this out to have themselves on the AIM market and have another company they control on the market as well with ex directors of BOO running the plc as a quoted company, why would do they do that ?

Put aside the duplication of head offices functions / costs to be on the market then it’s logical for BOO to just deal with RevB now.

The 2 ex directors won’t be participating in the company - agree with you - they will cash in and BOO buys their stake, plus they may consider a more friendly BoD of RevB than Bob Holt post event potential legal action

The RevB Bank won’t provide the day to day facility if the Company doesn’t relist, it was obvious they wanted their money back / de risk, we know that as they have told the company, all they had to do was to back RevB covenant light and they didn’t , the bank can at the moment withdraw the facility anytime, hence the ‘material concern’ statement in the RevB accounts, this is why Bob needed a Capital Day/ Fund raise

The 2 ex directors hold the key now - always have - they sell / vote with BOO then it’s game over for RevB, it won’t come back to the market

To go public yesterday BOO must be confident they have the 58%, appreciate it’s not over yet, until it’s over, but with their next move on the Board it looks Check Mate to BOO from here.

For us BOO shareholders we will have nicked RevB

Looks that why T4G

Ruthless bit of business by BOO,let’s see how the 2 ex directors go

The ex directors take their cash off the table and De - risk and remove Bob / Liz same time and hope BOO go easier on them

Hosai, just can’t see RevB relisting for all reasons as below

The Bank on its own for example put aside the other reasons

But DX are not on AIM LSE

The rules/ bar for relisting are high, why would the Bank release their covenant and take risk when BOO just repay the debt from their £300M cash pile ?

The auditors have said ‘ material concerns ‘

Bob has been out manoeuvred IF the 2 ex directors join with BOO, suggest BOO are confident to make the move to remove Bob/Liz

Downtime, do agree it’s a total steal by BOO and a ruthless bit of business but today they have shown their hand and they have gone for the jugular.

Looks like the Shorts have started to work this out this afternoon, it’s race for them to take profits now and close out

Hosai, if Bob could have re listed he would have done so

he can’t unless the Bank support and withdraw their covenant

The Bank will be thinking does their risk go to zero with a BOO PG or repaying and /or being debt (net) free and £400M plus assets

Personally I think Bob is in ‘check mate ‘ territory, he has the Bank , AIM Team won’t take a risk and 2 ex directors may be treated a bit more leniently by BOO and get a wedge of cash same time with reduced risk