Believes Significant Opportunities Exist within Redbubble to Unlock Value Through Strategic Alternatives, Including a Sale to a Strategic Acquirer
Concerned That Inconsistent Operational Performance and Execution Have Eroded Shareholder Confidence in the Company
Looks Forward to Working Collaboratively with Management and the Board to Drive Value for the Benefit of All Shareholders
NEW YORK, Dec. 27, 2019 /PRNewswire/ -- Emancipation Capital ("Emancipation", "we"), a long term shareholder in Redbubble Group Ltd. (ASX:RBL) ("Redbubble" or, the "Company"), today announced that on December 22, 2019, it delivered a letter to Barry Newstead, Redbubble's Chief Executive Officer and the other members of the Company's Board of Directors (the "Board"). Emancipation's view of Redbubble's strategic value is undiminished, but said that the Board and management's inability to show consistent results and further improve its market leading position has caused Emancipation to urge Redbubble to seek a strategic alternative. Emancipation looks forward to continuing discussions with management and the Board and believe its concerns reflect the view of many other shareholders.
The full text of Emancipation's letter to the CEO and Board can be viewed at the following link:
https://mma.prnewswire.com/media/1059595/RBL_Board_Letter.pdf
About Emancipation Capital
Emancipation is a long-term and engaged shareholder, often advising portfolio companies on capital allocation, strategy, competitive analysis, etc. The principal has served on multiple public and private technology company boards.
Investor contacts:
Charles Frumberg (212) 605-0661
https://www.emancipationcapital.com/
