Revolution Beauty Regulatory News (REVB)

REVOLUTION BEAUTY GROUP PLC

("Revolution Beauty", the "Group" or the "Company")

Receipt of Requisition Notice

Following the announcement made by boohoo Group plc ("boohoo") earlier today, the Company confirms that it has received a letter and accompanying notice dated 19 June 2023 from boohoo, seeking, as a holder of approximately 26.6% of the voting rights of the Company, to requisition a general meeting of the Company under section 303 of the Companies Act 2006 (the "Requisition").

The Requisition proposes to remove Robert Holt, Derek Zissman and Elizabeth Lake as directors of the Company and to appoint Alistair McGeorge (the current deputy chairman of boohoo) and Neil Catto (a current executive director of boohoo) as directors of the Company. The new directors proposed by boohoo would, if the Requisition were successful, comprise a majority of the Board, alongside current director Jeremy Schwartz.

The letter further states that boohoo intends to vote against the proposed re-appointment of Robert Holt, Derek Zissman and Elizabeth Lake at the Company's upcoming annual general meeting, which is scheduled to take place on 27 June 2023 ("AGM"). In addition, boohoo has requested that Rachel Maquire and Matthew Eatough should not be appointed as additional directors of the Company before the AGM and that, if they were appointed after the AGM, boohoo would consider requisitioning a further general meeting to remove them.

The Board is in the process of reviewing the content and validity of the Requisition with its advisers. A further announcement will be made in due course, including with respect to any impact that the Requisition may have on the Company's upcoming AGM. 

In the meantime, shareholders are urged to take no action.

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