Revolution Bars (GB:RBG) has released an update.
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Revolution Bars Group plc has rejected a non-binding proposal from Nightcap plc, citing significant challenges including multiple conditional equity fundraisings, legal and procedural issues, and high execution risks compared to their own secured £12.5m Fundraising and Restructuring Plan. The company is focusing on shareholder approval for its Fundraising, without which it faces liquidity pressures from Q1 FY25. Shareholders have been advised to support the Fundraising, failing which could result in a total loss of their investment.
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