Update on claim alleged by Chrysalis Investments

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.