Update on claim alleged by Chrysalis Investments

Revolution Beauty Group PLC

02 January 2025

 

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

2 January 2025

Revolution Beauty Group plc

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

Update on claim alleged by Chrysalis Investments Limited

Revolution Beauty (AIM: REVB), the multi-channel mass beauty brand, announces that it has entered into a confidential settlement with Chrysalis Investments Limited ("Chrysalis").

As previously announced on 2 February and 22 April 2024, the Company had received a pre-action letter and a further letter from Chrysalis' legal advisers, including draft particulars of claim in relation to certain allegations made by Chrysalis, which were strongly contested by the Company. Chrysalis did not subsequently, and has not, filed any claim with the court.

Revolution Beauty and Chrysalis have now reached a confidential settlement without any admission of liability by either party. Chrysalis will not proceed with any claim against the Company. The Company has agreed to pay Chrysalis a non-material sum which will not have a material impact on the Company's financial and cash position.

For further information please contact:

Investor Relations

Lauren Brindley, CEO

Neil Catto, CFO

[e-mail]

Panmure Liberum Limited (Nomad and Joint Broker): Edward Thomas / Dru Danford / John More

Tel: [phone]

Zeus (Joint Broker): Benjamin Robertson / Nick Cowles / Jordan Warburton

Tel: [phone]

Media enquiries

Headland Consultancy: Antonia Pollock

Tel: [phone]

[e-mail]

 

END