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
Investor.Relations@revolutionbeautyplc.com
Panmure Liberum Limited (Nomad and Joint Broker): Edward Thomas / Dru Danford / John More
Tel: +44 (0) 203 100 2222
Zeus (Joint Broker): Benjamin Robertson / Nick Cowles / Jordan Warburton
Tel: +44 (0) 161 831 1512
Media enquiries
Headland Consultancy: Antonia Pollock
Tel: +44 (0)7789 954 356