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Boohoo expressed “serious concerns” about the actions of Revolution Beauty’s board after Tuesday’s eventful annual meeting.
Fashion retailer with approximately 26.6% stake revolution beautywas one of 74% of investors who voted to remove the cosmetics company’s three top directors, leaving the remaining independent directors to reappoint.
BoohooThe company, which is seeking to appoint its own nominees to the management team of Revolution Beauty, said Wednesday, “It is well documented how such a board can claim to act in the best interests of its shareholders. Is it rather selfish as it is,” he said. By activity in the last 24 hours. ”
Revolution Beauty denounced Boohoo’s actions as “nothing less than value-destructive, opportunistic and selfish”.
The cosmetics retailer’s shares, which were suspended in September following a series of problematic accounting probes, are set to resume trading on Wednesday on London’s Junior AIM market.
https://www.ft.com/content/a4bd1075-e53b-4617-9efd-5f7079e6cb20 Boohoo Expresses ‘Serious Concerns’ About Revolution Beauty Board