Remember Revolution Beauty? It’s one of the UK’s (many) Class of 2021 float disasters, with shares suspended since September while external investigators try to make sense of its numbers .
Today we have news that Bob Holt is Revolution Beauty’s permanent CEO, having been doing the job on an interim basis since October. “The independent investigation being carried out by Forensic Risk Alliance and Macfarlanes remains ongoing, and no conclusions have been drawn,” Rev cautions, saying the update will be “in due course.”
All of that looks quite straightforward. Less so was the announcement from Friday that Chrysalis Investments had sold its stake in Rev Beauty in an off-market transaction for £5m. No confirmation yet on the buyer but among dealers the leading suspect is Boohoo, which might want to add to the strategic stake it bought in August .
Jupiter Asset Management also revealed last week that it has managed to shift its stake in Rev Beauty , yet nothing has been revealed yet on the corporates and individuals who’ve been buying. Ultimate ownership might be another thing Holt needs to make sense of rather quickly.
Elsewhere on Monday . . .
— China’s protests: harbinger or passing storm ? (ChinaTalk / Substack)
— Inside the Trilateral Commission: Power elites grapple with China’s rise (Nikkei Asia)
— Poland’s coming economic collapse: a story in eight tweets (Naked Capitalism)
— How VCs can avoid being tricked by obvious frauds (Noahpinion / Substack)
— The Bank of Canada is discovering that explaining risk to Canadians is actually difficult (CBC News)
— How Big Pharma hijacked patient groups to keep drug prices high (The Breach)
— RNS watch: Superdry responds to weekend stories about its rescue financing; RM’s selling something ; PensionBee says it’s hit £3bn in assets under management ;
— Megalopolis: how coastal west Africa will shape the coming century (The Guardian)
— Why have so many Russian aircraft crashed since September ? (The Jerusalem Post)
— Splash-free urinals inspired by Nautilus shells and dogs (American Physical Society)