Update on Revolution Beauty
Debenhams to subscribe for shares in Revolution Beauty's £15m fundraise and pursue exclusive cosmetics licensing deal.
- Revolution fundraise approximately £15m
- Debenhams shareholding in Revolution 86,346,538 shares (27.03%)
- Debenhams stake after proportionate subscription 27.03% (maintained)
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Following the announcement by Revolution Beauty Group plc ("Revolution") regarding its conditional fundraise of approximately £15m (the "Fundraise") Debenhams Group (DEBS.AIM) is pleased to confirm that it has signed an irrevocable undertaking to support Revolution and intends to subscribe for shares in the Fundraise proportionate to its entitlement.
Debenhams is also pleased to confirm that it is in discussions with Revolution around establishing a more formal commercial arrangement pursuant to which Revolution will supply certain Debenhams brands with branded cosmetics under a licence agreement on an exclusive basis, subject to a royalty payment.
Debenhams currently owns 86,346,538 Revolution shares, representing approximately 27.03% of Revolution's issued share capital.
Dan Finley Chief Executive Officer of Debenhams Group, commented:
"We are pleased to support Revolution's fundraising as the new team puts in place its strategic plans, and are excited by the synergies and opportunities that lie ahead. We see significant potential in collaborating more closely with Revolution, including through licensing arrangements that will allow Debenhams' brands to offer exclusive, high-quality cosmetics to our customers."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.