This announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and
is disclosed in accordance with the Company's obligations under
Article 17 of MAR
For
immediate release
22 April 2024
Revolution Beauty Group
plc
("Revolution Beauty", the
"Group", or the "Company")
Response to allegations by
Chrysalis Investments Limited
Revolution Beauty (AIM: REVB), the
multi-channel mass beauty innovator, notes the comments by
Chrysalis Investments Limited ("Chrysalis") this morning, stating that
it issued draft particulars of claim to the Company on 19 April
2024.
On 2 February 2024, the Company
announced an initial response to allegations made by Chrysalis. The
Company now confirms that, on 19 April 2024, it received a further
letter from Chrysalis' legal advisers, including draft particulars
of Chrysalis' alleged claims and details of the quantum of
Chrysalis' thereof, which are as stated in Chrysalis' announcement
of this morning. The draft particulars of claim note a claim of
£39m, together with a claim for consequential losses of a further
£6.2m. No claim has yet been filed with the court.
The Company, as previously
maintained, strongly contests the allegations. The Company
and its legal advisers continue to review the materials received on
19 April 2024, and is considering its response. The Company will
continue to engage with Chrysalis and its advisers
accordingly.
Further updates will be provided as
appropriate.
For further information, please
contact:
Investor Relations
Lauren Brindley, CEO
Neil Catto, CFO
Investor.Relations@revolutionbeautyplc.com
Joint Corporate Brokers
Liberum (NOMAD): Edward
Thomas / Dru Danford / John More
Tel: +44 (0) 203 100 2222
Zeus: Nick Cowles / Jamie
Peel / Jordan Warburton
Tel: +44 (0) 161 831 1512
Media enquiries
Headland Consultancy: Matt
Denham / Antonia Pollock
Tel: +44 (0)20 3805 4822
Revolutionbeauty@headlandconsultancy.com
The person responsible for arranging
the release of this announcement on behalf of the Company is Lauren
Brindley, the Chief Executive Officer of the Company.