We would love to hear your thoughts about our site and services, please take our survey here.
Ajc2 - yes, it was all about will he get is money and shares, boo said yes, its amazing how quickly you then change your mind and are no longer concerned about ... 'whats best for the company'
Ubik, i didn't say destroy, but they are getting closer to having to make a legal offer - and they wont want the SP too high if thats their intention.
Its going to depend on what boos strategy is now and if they actually want the price up short term, they might not spin news in the most positive way if they want to buy this outright as they will want the price suppressed.
Moving up at speed ..
Would expect this to bag pretty quickly now
And id be pretty sure bob has cleared this with the lenders be for deciding to go and take his shares!! he's not stupid... he's a decent sized shareholder now.
Doesn’t really matter either way. Could easily issue 20m of stock and be debt free if headroom is voted through.
*don’t
Bear - I do that think that was ever an issue it was just Bob spouting cos he thought he would lose his stock. Banks just care that they get paid, that’s it.
Yep onwards and upwards. Nothing holding it back now, should fly this am (you would hope!)
This should gap up this am ..
They haven’t, New independent CEO to be appointed. Bob is win/win gets his stock and can now watch it grow .. that’s all he really wanted.
RNS Number : 2952G
Revolution Beauty Group PLC
18 July 2023
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For immediate release
18 July 2023
REVOLUTION BEAUTY GROUP PLC
("Revolution Beauty", the "Group" or the "Company")
Settlement Agreement with boohoo
Revolution Beauty Group plc (AIM: REVB), the multi-channel mass beauty innovator, and boohoo Group plc ("boohoo", AIM: BOO), a leading online fashion group, announce that they have entered into a settlement agreement (the "Settlement Agreement") under which:
· boohoo has agreed to withdraw its requisition of a general meeting of the Company under section 303 of the Companies Act 2006 (the "Requisition");
· Bob Holt OBE and Derek Zissman have agreed to resign from the board of Revolution Beauty (the "Board"), although Bob will remain with the business as interim CEO until 31 August 2023;
· Alistair McGeorge, Neil Catto, Rachel Horsefield and Peter Hallett will join the Board, with Alistair being appointed as executive chairman of the Company, Neil becoming a non-independent non-executive director, and Rachel and Peter becoming independent non-executive directors; and
· Elizabeth Lake will remain as CFO. The new directors appointed at boohoo's request are looking forward to supporting Elizabeth with her ongoing hard work on restoring the Company to sound financial health, including with respect to ensuring the timely publication of the Company's accounts for the financial year ended 28 February 2023 (the "FY23 Accounts").
The terms agreed between Revolution Beauty and boohoo in the Settlement Agreement are conditional upon, among other things, the settlement agreement entered into between Bob Holt and the Company (the "BH Agreement") coming into effect, as summarised below. This is expected to occur in the coming days.
Further announcements will be made in due course, as required.
Withdrawal of Requisition and proposed indefinite adjournment of General Meeting
The Settlement Agreement between Revolution Beauty and boohoo will bring to an end the uncertainty regarding the Company that followed the Requisition on 19 June 2023. Pursuant to the Settlement Agreement, boohoo has withdrawn the Requisition, but because the notice convening the general meeting of the Company pursuant to the Requisition (the "General Meeting") has already been sent to shareholders, the Board will still be obliged as a technical matter to hold the General Meeting on the date for which it has been convened. The General Meeting will therefore be held at 11:00 a.m. on 7 August 2023, at the offices of Macfarlanes LLP.
However, the Board intends, with the consent of shareholders present at the Gener
Doesn’t look a bad deal, Lake staying. At least it’s now over!!
I think the point is they do have one, and it doesn't involve revb PIs one way or another.
He's more than alluded to it! Still not 100% sure if thats self preservation though, he wasn't very vocal before it for months when we were calling for trading updates and silence ..
If a 'deal' doesn't happen, we will certainly get another pumpy RNS prior the the vote to rally the troops from Bob. Probably another from Boo too with the apposing view. It going to be interesting either way .. with the SP currently at stalemate we need a catalyst .. not heard anything either with regards to the Minto case. Something must be going on in the background with that. Although at the moment bob has other things on his mind.. all to play for!
I’m not getting this string? Is wolf boy suggesting people do t have the stock they have? I certainly do - not sure how anyone would benefit by lying to strangers on an anonymous board! No one knows who anyone else is! Wolf - what is a lot to you might be a tiny proportion of someone else’s portfolio - get a grip man.
They wont be, but bobs mates dog might be
Phat - any accumulation could be off book. However they would still need to tr1 if direct purchases.