Business
Financial Conduct Authority Update
Revolution Beauty Group PLC has been notified by the Financial Conduct Authority that its investigation into the company has ceased with no further action to be taken against the company or its founders, Adam Minto and Tom Allsworth. This follows an investigation that commenced on 21 July 2023, with the founders having been informed of the discontinuation of action against them in November 2024. The company has cooperated fully with the FCA and implemented enhanced governance and best practices. Disclaimer*
About this update from Revolution Beauty Group Plc
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED REVOLUTION BEAUTY GROUP PLC ("Revolution Beauty", the "Group" or the "Company") FINANCIAL CONDUCT AUTHORITY UPDATE INVESTIGATION HAS CEASED AND NO ACTION WILL BE TAKEN AGAINST THE COMPANY OR ITS FOUNDERS Revolution Beauty Group plc (AIM: REVB), has been notified by the Financial Conduct Authority ("FCA") that its investigation into the Company has ceased and no further action will be taken against the Company. The Company had previously announced that the FCA had commenced an investigation on 21 July 2023. The investigation also covered the Company's founders Adam Minto and Tom Allsworth. In November 2024, both Adam and Tom were informed that the FCA had discontinued its investigation and did not intend to take any action against them. The FCA has now confirmed that the remaining investigation is closed. Iain McDonald, Chairman said: "We are pleased to report that the FCA has ceased its investigation into Revolution Beauty Group plc and that no action will be taken against the Company or its founders. The Company has cooperated fully with the FCA for the last three years and has taken on board any comments with a constructive spirit implementing a wider range of governance and best practice. It is fitting to receive this news from the FCA at a time when Tom and Adam are back involved in the business and have reinvigorated it with a clear strategy. The early signs that this strategy is working are very encouraging, and the future is much brighter for the Revolution brand." For further information please contact Investor relations Tom Allsworth, CEO Neil Catto, CFO [email protected] Strand Hanson Limited (Nominated Adviser) Christopher Raggett/Carl Holmes/Imogen Ellis Tel: +44 (0)20 7409 3494 Zeus Capital (Broker) Dominic King/Jordan Warburton Tel: +44 (0)161 831 1512 Tavistock (media enquiries) Simon Hudson/Rebecca Hislaire/Saskia Sizen +44 (0)20 7920 3150
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