Peel Hunt Limited

“"Peel Hunt group's equity interest in RetailBook Holdings Limited ("RBHL") will decrease to below 50%" ... "RetailBook has operated independently of Peel Hunt since April 2024"”

Peel Hunt is both the parent/significant shareholder of RetailBook and an AIM-listed company announcing the dilution of its own stake. The evolving ownership structure (from >50% to <50%) and claims of independence while still being announced via Peel Hunt's own RNS channel could create confusion about RetailBook's true independence.

“"RetailBook operates fully independently of Peel Hunt, the Peel Hunt group holds just over 50% of the capital of RetailBook" ... directors Aaqib Mirza (£175k) and Nicholas Cullen (£50k) subscribing as related party transactions”

RetailBook directors subscribing for shares in their own platform is disclosed as a related party transaction. While properly disclosed, the combination of Peel Hunt's >50% ownership and director subscriptions warrants transparency about the platform's independence given its role in approving financial promotions.

Fundraise by RetailBook

The Company's joined up approach combines these services with expert research and distribution and an execution services hub that provides liquidity to the UK capital markets, delivering value to global institutions and trading counterparties alike. The Company is admitted to trading on AIM (LON: PEEL) and has offices in London, New York, and Copenhagen. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use a…

Fundraise by RetailBook

the Company's nominated adviser, that at the time it was undertaken, the terms of the participation of Aaqib Mirza and Nicholas Cullen in the Fundraise were fair and reasonable insofar as the Company's shareholders are concerned. For further information, please contact: Peel Hunt : via Sodali & Co Steven Fine, CEO Sunil Dhall, CFOO Sodali & Co (Financial PR) : +44 (0)20 7100 6451 Justin Griffiths Gilly Lock Russ Lynch peelhunt@sodali.com Grant Thornton UK LLP (Nominated Adviser) : +44 (0)20 7728 2942 Philip Secrett Colin Aaronson Elliot Peters Keefe, Bruyette & Wood…

Peel Hunt announced collaboration agreements with Hargreaves Lansdown, Jefferies, Numis, and Rothschild & Co for REX/RetailBook. REX to become standalone business renamed RetailBook. HL to use platform exclusively for UK follow-on share offerings until June 2023. Partners have right to take equity stakes alongside Peel Hunt.

Key announcement of RetailBook platform spin-out and partnerships. No mention of Peel Hunt's >50% ownership stake. RetailBook raised £2.5m per separate search results (not in this post).

Peel Hunt shares began trading on AIM market of the London Stock Exchange. Described as next exciting chapter after more than a decade of growth. Welcomed new shareholders.

Peel Hunt's own AIM listing announcement. No fundraise amount or share price disclosed in post.