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Pin to quick picksRevolution Beauty Regulatory News (REVB)

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Response to allegations by Chrysalis Investments

22 Apr 2024 09:09

RNS Number : 4971L
Revolution Beauty Group PLC
22 April 2024
 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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RSPEAPLAAELLEEA
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