Parsley Box (MEAL) has seen its share price soar over the past couple of weeks on news that it is planning to delist, which seems rather strange as I can’t imagine all the PIs who have been buying actually want to be stuck holding this after it ceases trading on AIM.
The fight to be the worst IPO of 2021 is a bitter one but along with Made.com (MADE) which pre-published its own obituary this afternoon, Parsley Box (MEAL) has to be a contender and again I warned folks numerous times that this was a dog with fleas. Today it served up news which went down like a wet dream involving Liz Truss.
Another day and another email arrives from Parsley Box (MEAL) as you can see below. And guess what?
If you are a senior member of staff having a consensual relationship with a junior member of staff that should be okay as long as you are open about it with the folks who run the company. It would be hypocritical of me to say otherwise. But that brings me to Parsley Box (MEAL) which is lurching towards insolvency as it is.
Yet to admit that its MD, poached from John Lewis with great fanfare, has been handed a P45 and a black bin liner, Parsley Box (MEAL) is spamming folks like me, with some offers showing aggressive discounting. This is a clear sign that its cash position is becoming increasingly challenging. And why wouldn’t it?
Direct-to-consumer ready meals group Parsley Box (MEAL) has issued a “Wimbledon cream tea & Pimms Daily Mail partnership”-titled announcement including that the offering is “following the success of Afternoon Tea for Two for the Queen's Platinum Jubilee… Our plan includes offering a wider range of relevant goods to our customers which they have demonstrated that they are keen to enjoy”. So what of a share price currently up to 18p?...
A “Director Dealing” announcement from Parsley Box Group (MEAL) today and the shares are currently up approaching 3% in response to give a £13.4 million market cap. Some good news then?
On Monday ready meals group Parsley Box (MEAL) announced sellout of 4,000 Platinum Jubilee-targeted hampers, with CEO Kevin Dorren “delighted to be working with so many highly regarded brands” on them. However, there were no financials included and today a “Trading Update”, and the shares down to 17.5p, a £12.7 million market cap.
Parsley Box (MEAL) has issued a “Grant of share incentive awards to Executive Directors”-titled announcement with the “incentive awards” being share options at 20.5p per share. The group listed on AIM at the end of March last year, emphasising “it is just the beginning of our journey serving the Baby Boomer+ demographic… looking forward to leading the business through our accelerated growth plans to become a household name”... at 200p per share!
With the shares at 20p to sell (90% down on the IPO of less than a year ago), it is no shock that long-suffering shareholders in Parsley Box (MEAL) were reluctant to accept an open offer at 20p. Having hoped to raise £1.1 million, it managed just £140,000. Oops. So when will Parsley Box go bust?
