Business
Commencement of Legal Action
Commencement of Legal Action.
About this update from Chill Brands Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.\n \n25 July 2024\nGeneral meeting Chill Brands Group plc\n(\"Chill Brands\" or the \"Company\")\n \nCommencement of Legal Action\nFurther to the Company's announcements made on 10 June and 17 July 2024, the board of directors of Chill Brands (the \"Board\") confirm that its US lawyers have commenced legal action to regain control of certain intellectual property (the chill.com domain and certain trademarks - the \"Assets\"). Yesterday it filed a complaint (the \"Complaint\") with the U.S. District Court for the District of Colorado which can be viewed here: http://www.rns-pdf.londonstockexchange.com/rns/9038X_1-2024-7-25.pdf. Additionally, the Company has terminated Antonio Russo and Trevor Taylor's (the \"Former Directors\") employment contracts with immediate effect. \nThe Assets were transferred out of the control of the Company by the Former Directors who were removed from the Board at the General Meeting held on 4 June 2024. \nFurther updates will be made as matters progress.\n \n-ENDS-\nAbout Chill Brands Group\nChill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is an international consumer packaged goods company focused on the development, marketing and distribution of wellness and recreational products. The Company's proprietary nicotine-free vapour products cater to the rapidly growing market for tobacco alternatives and are distributed by some of leading retail stores in the US and UK. Chill Brands also operates the chill.com e-commerce website, on which it is building a marketplace of products from third-party brands.\n \nPublication on website\nA copy of this announcement is also available on the Group's website at http://www.chillbrandsgroup.com\n \nMedia enquiries:\n\n\n\n\nChill Brands Group plc\nHarry Chathli, Chairman\n\n\n+44 (0)20 4582 3500\n\n\n\n\nAllenby Capital Limited (Financial Adviser and Broker)\n\n\n+44 (0) 20 3328 5656\n\n\n\n\nNick Harriss/Nick Naylor/Lauren Wright (Corporate Finance)\nKelly Gardiner (Equity Sales)\n\n\n \n\n\n\n\n \n\n","length":4960,"tagName":"div"}]