RE: Revolution Beauty Admission Document2 Jul 2023 15:58
From Page 130/131 in the Admission Document:-
11.3 Medichem Option Agreement
On 13 July 2021 the Company entered into a call option agreement with Tom Allsworth and Medichem Manufacturing (the “Option Agreement”), pursuant to which Tom Allsworth granted an option to the Company to acquire the entire issued share capital of Medichem Manufacturing (the “Option”).
The Option is exercisable by the Company from the date of the Option Agreement up to and including 31 December 2022.
In the event that the Company exercises the Option the consideration payable will be a sum of £23,000,000.
Prior to the exercise of the Option, a committee of independent directors (the “Independent Committee”) will undertake an appropriate due diligence process and carry out an independent valuation exercise to support a decision on whether to exercise the Option.
Under the terms of the Option Agreement Tom Allsworth and Medichem Manufacturing have given certain warranties and undertakings as to, inter alia, restrictions on transferring, altering or creating any encumbrance over the share capital of Medichem Manufacturing.