Revolution Beauty Group PLC said it is seeking clarity on Boohoo Group PLC (AIM:BOO)’s strategy and plans after an “unwelcome and opportunistic attack”.
The make-up retailer said in a statement that despite attempts from Boohoo to shake up its board, it does not wish to get involved in a prolonged PR battle with its largest shareholder.
It claimed that Boohoo, which owns roughly 26.6% of Revolution Beauty, has provided no reason for its attack that saw three executive board members ousted before being re-appointed.
Boohoo has also not provided any strategy or future plans for the company, Revolution Beauty said.
Another general meeting, at the request of Boohoo, will take place in July or August, which will propose once again that CEO Bob Holt, CFO Elizabeth Lake and non-executive Derek Zissman are removed and replaced by Alistair McGeorge and Neil Catto.
Revolution Beauty also provided clarification on the voting at this week's AGM, noting that only 39% of all shareholders cast votes, and the highest number of votes against any proposal was 29%, of which Booho accounted for 26.6%.