Last checked at 22 Apr 2024 09:09
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.