RE: There on it!28 May 2025 07:21
Thanks to RAH on X:
#AVCT finally lands a heavyweight, bringing much needed and long-sought commercial depth to its board in Richard Hughes.
“Experience in fundraising”
Yes, just a tad… Richard Hughes is responsible for over a third of all monies raised across AIM IPOs over the last seven years:
➡️ £17.5Bn gross total deal valuations;
➡️ £9.4Bn gross sell side deals advised on;
➡️ £5Bn equity raised.
One recent example from the above extensive list: November 2024 - raised £39.3m for Debenhams Group, despite pretax losses widening to £27.4m (from £9.1m a year earlier).
That placing took place at a premium to the share price and was significantly oversubscribed.
If you can land money for Debenhams Group (both at a premium - and - oversubscribed!) when the Chinese are selling direct to consumer, you can sell water to a well.
“Experience in scaling businesses”
In 2009, he acquired wound specialist, Crawford Healthcare for £700k. Crawford was sold to Acelity for £103m in 2018.
Acelity was eventually bought by 3M for $6.7Bn in 2019.
The 2018 sale achieved x147 return in 9 years. Suffice to say he knows how to scale businesses.
Not a pharma man - a money man - which is precisely what this company needs.
The market (and every broking house) will now be asking what this City veteran - who has never before sat as a director of a listed company - sees in order to encourage him to step onto a public board for the first time in 35 years.
https://x.com/RAH00084/status/1927610516194607372