RE: RNS11 Jul 2023 18:43
Been absent this pm as following a few others.
A couple of observations on this afternoons dialogue.
1. There is a Sweet FA chance of REVB going into admin. Their accounts have been checked, double checked and triple checked by the auditors over 8 months of suspension, and then by their the Banks on top. The trading update also tells you that it simply won't happen. Momajid I think you need to get some much needed fresh air.
2. We don't have any idea who briefed Sky News. If it was the BOO side then it may be an attempt to try and carry greater favour in negotiations. If it was actually REVB that briefed Sky then it could be an attempt to get all to vote, and to vote against all the recommendations. Just make sure you contact your brokers and get those votes registered. I'm voting AGAINST all the resolutions.
3. In any case whatever the eventual scenario - Compromise - is in the best interests of both REVB and BOO. Not least for all in terms of cost savings but at 50p then BOO are up circa £50 Million. Share price should have and probably will go up considerably in time as a result of any compromise.
4. I suspect that from this mornings Auction where the price was sat on at the outset and right through to close today probably saw a lot more buyers than sellers. Actual buy quotes were also higher than the offer prices being quoted on several platforms.
5. Lastly if as a result of all this REVB ends up moving forward with a Board of Directors with the complementary skill sets of ensuring Integrity and Corporate Governance, along with those required to understand and to run and grow a Beauty business then I have no problem with that. That would be the ideal scenario. That undoubtedly would be in the best interests of REVB and all its shareholders. Hosai you make a valid point in that Bob Holt could be accomodated in another role. You suggested Chairman, he could instead be an NED. Until resolved there are so many permutations even off those presently in role and those that BOO are suggesting.
After the compromise RNS last night I was actually in the market to top up and was surprised how cheap them, given it could have easily been gapped up 10% to 20%.
Have a fine evening.