Blundy encourages us to sell our shares....
While I encourage all Shareholders to ACCEPT the Offer for all of their BLG Shares, I realise that
some BLG Shareholders may not wish to sell all of their BLG Shares at this time and would instead
like to remain invested in BLG. If the Conditions are satisfied or waived, 6 BLG Shareholders who do
not accept the Offer for all of their BLG Shares will remain invested alongside myself and Ray Itaoui.7
However, if you do not accept the Offer for all of your BLG Shares, you should be aware of the risks
associated with your continued investment. You should also be aware that if the Bidder Group
acquires a combined Relevant Interest in at least 90% of the BLG Shares, we intend to proceed to
compulsorily acquire your remaining BLG Shares and if this occurs, you will not remain invested
alongside us and will instead receive the Offer Price for your remaining BLG Shares.
Then reels off his and Ray's vast and successful retail experience
I have over 40 years of retail experience, having successfully founded, grown, operated and invested
in many retail businesses over this time. I am the Founder and Chairman of BBRC Worldwide, a
private investment firm that started as a single record store in Australia and has grown to a global
investment portfolio. Since inception, BBRC has invested in and operated consumer businesses
spanning the specialty fashion, lingerie, fashion jewellery, leisure, entertainment, homewares, and
footwear categories. This has included making significant investments in ASX-listed companies,
including BLG, Accent Group, Lovisa, Aventus Group, Dusk, Universal Store and Adairs. BBRC
became a cornerstone investor in BLG prior to its initial public offering in 2021 and I have been on
the BLG Board since this time.
Ray Itaoui has considerable retail experience. For over 20 years, he has operated and invested in
Australian and global retail businesses including Sanity, Bras N Things, Honey Birdette, Mr Vitamins,
MakeUp Cartel and Universal Store. He also served as the Chairman of Sanity, Bras N Things, Honey
Birdette, Mr Vitamins and as an independent non-executive director of ASX-listed Aventus Group
until last year when it was acquired by HomeCo.
and that we will probably benefit long term for staying put?!?! But still sell your shares, while we buy at these levels!!!!
Together, we intend to leverage our experience and expertise to work collaboratively with
management and the BLG Board to improve the operations of the Company and unlock unrealised
value for all BLG Shareholders who remain invested following the Offer. BLG Shareholders who do
not sell all of their BLG Shares under the Offer will have the opportunity to benefit from our
commitment to realising longer term value for all BLG Shareholders.
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