Member Info for WolfofWarks

Oke - according to the trading update the Ebitda position is improving significantly in the current financial year (FY24) and will be in the high single digit millions.

The Ebitda shown by the end of FY23 will close from £(7.5m) in august to show 'a small loss'

If you look at the cash and net debt position they are broadly unchanged between Aug 22 and May 23.

So I'm not too sure why you think they are currently in a. negative balance sheet position - by all accounts since August it should approve somewhat.

Elvis - the greasy lawyers are working on behalf of CW though. This action isn't a restructuring cost.

You've got to remember that this is a supervised process and all expenditure has to be approved by the judge in order to safeguard all the cash and assets for the good of the creditors - and when I say creditors I'm talking of the wider group outside the ad hoc lenders.

It depends on the place of supply and in the case of the customers where they are based. The company would need to contract with one of the shareholders unless they form some kind of legal group, partnership, association, etc. The place of supply would then be were they are based/registered.

So my understanding of that is it's £150k to review the mystery report or maybe the Lenders valuation or £250-£300k for them to undertake a full valuation.

Oh and these costs exclude vat so you can add another 20% on!

Fee structure

Based on our standard market rates for this type of engagement, we estimate the following

time costs for each of the potential valuation scenarios suggested:

• For a Valuation Review report, we estimate time costs to be £110,000 - £140,000;

• For a full Independent Valuation report, we estimate time costs to be £250,000 -

£300,000. If you only require a valuation using the Market Method, we estimate time

costs of around £130,000. If you only require a valuation using the Income Method,

then we estimate time costs in the region of £170,000.

If you require both a Valuation Review and Independent Valuation, because of the

complimentary nature of some of the analysis required to complete both, we will adjust

our fees for the Independent Valuation to reflect work already performed for the review.

If the timetable changes, or if there is a change to the scope of work, we may need to

charge additional fees – however, we will agree this prior to undertaking any additional

work or incurring additional fees. The fee estimate excludes VAT and assumes:

• A 50% payment in advance of starting the project

• Timely and accurate disclosure of all available information

• The scope of work and approach taken is agreed, as set out in an engagement letter

• Delivery of our report at an agreed date

I assume this is where MA got his shares from?

'Just on Bob, BOO couldn’t have stopped Bob relisting RevB if RevB didn’t need a raise -the points in the first paragraphs above identify the risk - alongside audited accounts due and '

Why? Whether or not they need a raise (which they dont looking at the balance sheet) has nothing to do re-lisitng which you are still persisting with.

‘ material risk ‘ on the audit which was 15 months old then the AIM team wouldn’t take a chance, they want current audit sign off '

The AIM is an exchange whose rules must be followed. They are not forensic accountants and companies management are not accountable to them of the financial health of the company, only that they follow the listing rules - ie file accounts, etc.

'All the of the above is kind of conjecture now other than which way do the ex directors vote and IF BOO win how do they fund RevB

My call, they have Minto / Tom and Ashley and it’s game over for Bob and he won’t get his share of the £3M bonus he was paying himself for relisting''

I don't believe the former directors would/should take part in the governance of the company given what has happened. Without their votes Boohoo is already at almost 40% based on they share of the remaining votes.

It's in BH interests for the company to re-list because they can continue to build up their stake on the open market. With control of the board they can then recommend a takeover to the shareholders officially.

It wasn't a valuation but a proposal to carry out a valuation.

it was never going to fly. some of the dreaming needs to stop here. expecting a bankrupt company to fork out six figures for an independent valuation when it hasn't got a pot to **** in, which, even if done on any reasonable basis will still tell you the company is fecked.

the only reason the previous valuation got the answer pis want is because it was completely wrong.

MM Conspiracy theories are a byproduct of watching a share price all day every day.

It’s not healthy.

It will be very interesting to see what these guys come up with.

I bet the creditors will be happy with that!

Who is forking out the readies for the cost of this valuation?

The gloves are off!

‘I would think if Revolution Beauty were being allowed to come back from suspension., they would have done it by now.‘

Have a read of their latest update. They tell you exactly where they are with re-listing.

I don’t think MA is ever just a shareholder. He’s a ruthless bully boy.

Interesting to see what happens here now but I’m not comfortable with him on board.

‘ You could be right pedro61. I think the Boohoo share price has held up well today. It could have gone much lower if it had not been for the REVB RNS yesterday.’

Surely yesterday’s rise was down to Frasers buying 5% of the company?

Okehurst - listen mate i mean this with with the greatest of respect but you need to slow down and have a look at what folk are telling you.

The 2022 accounts have been audited. They also contain all of the restatements on the comparative for 2021. You are looking at the wrong set of accounts which have been restated.

You also need to read the statement in the interims in relations to re-listing and also the statement on going concern.

Once you’ve reconciled at this information in your mind you can form a clearer view. You’ve gone well off piste!

Okehurst. You numbers are a year out of date. The Feb 22 accounts has a balance sheet of £21m.

Feb 21 restated is negative £10.8m.

Interims for Aug 22 was £7m.

Hmmmmm

I’m not sure about Mike Ashley’s involvement. He’s a predator in my book.