Press speculation
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Revolution Beauty Group plc (AIM: REVB), the multi-channel mass beauty innovator, notes the recent press speculation regarding potential agreements with the Group's former Chief Executive Officer (CEO), Adam Minto, and former Executive Chairman, Tom Allsworth.
As previously announced on 20 June 2023, the Group announced potential legal proceedings against Mr Minto regarding the events that led to a delay in the audit of the FY22 results and the suspension of the Company's shares from trading on AIM.
Separately, and as previously announced on 31 August 2023, the Board is negotiating with Tom Allsworth, the previous owner of Medichem, to reach a revised agreement on the terms of its acquisition.
Revolution Beauty remains in negotiation on both these issues. There is no guarantee that agreements will be reached. Should agreements be reached, they would likely be treated as related party transactions and an appropriate announcement made at that time.
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