REG - Revolution Beauty Gp - Notice of General Meeting

Revolution BeautyAnnouncement

10/07/2023 17:00

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RNS Number : 5487F  Revolution Beauty Group PLC  10 July 2023

 For immediate release  10 July 2023

 

 

REVOLUTION BEAUTY GROUP PLC

("Revolution Beauty", the "Group" or the "Company")

 

Notice of general meeting requisitioned by boohoo Group plc

Revolution Beauty Group plc (AIM: REVB), the multi-channel mass beauty
innovator, today announces that, following the letter and accompanying notice
dated 19 June 2023 received from boohoo Group plc ("boohoo"), a general
meeting of the Company will be held at the offices of Macfarlanes LLP at 20
Cursitor Street, London, EC4A 1LT at 11:00 on 7 August 2023 (the "General
Meeting").

Notice of General Meeting

The notice of the General Meeting will be dispatched shortly to those
shareholders who have elected not to receive electronic communications, and an
electronic copy will be available shortly on the investor section of the
Company's website www.revolutionbeautyplc.com/results-and-reports/
(http://www.revolutionbeautyplc.com/results-and-reports/) .

At the General Meeting, the following resolutions, all of which have been
proposed by boohoo, will be proposed as ordinary resolutions:

1.   That Alistair McGeorge be appointed as a director of the Company.

2.   That Neil Catto be appointed as a director of the Company.

3.   That Robert Holt be removed as a director of the Company.

4.   That Derek Zissman be removed as a director of the Company.

5.   That Elizabeth Lake be removed as a director of the Company.

The board of the Company (the "Board") unanimously recommends that
shareholders VOTE AGAINST ALL OF THE RESOLUTIONS to be proposed at the General
Meeting.

Potential compromise with boohoo

However, the Board believes that a compromise position with boohoo is close
and could be reached in the coming days.  If the Board were able to reach a
compromise, this would avoid the expense, administrative burden and other
detrimental consequences for the Company that would result from the General
Meeting.

If this compromise position is not reached in the coming days, the Board will
publish an announcement setting out its views on boohoo's proposed
resolutions, the General Meeting, and the situation in which the Company has
been placed.

Incorrect voting recommendations previously published on certain stockbroking
platforms

On Saturday 8 July 2023, the Board became aware that certain of the Company's
shareholders (including some Board members) had received communications from
several online stockbroking platforms, stating incorrectly that (a) the
General Meeting had already been convened (which, at that time, it had not)
and (b) the Board were advising shareholders to vote for the resolutions to
remove the current directors and to appoint boohoo's nominees (which, as
above, is the exact opposite of the Board's recommendation).  The Company has
contacted the relevant online stockbroking platforms, as well as the
appropriate regulatory authorities.

The Board urges shareholders to follow its voting recommendation, which,
pending the possible compromise with boohoo, is to vote AGAINST all of
boohoo's proposed resolutions at the General Meeting.  Any shareholders who
have accidentally already voted in favour of boohoo's proposed resolutions via
their online stockbroking platforms on the basis of the incorrectly presented
Board recommendation referred to above should contact those platforms as soon
as possible to change their votes from votes in favour to votes AGAINST all of
boohoo's proposed resolutions.

 

 For further information please contact:

 Revolution Beauty Investor Relations
 Bob Holt / Elizabeth Lake                                       Investor.Relations@revolutionbeautyplc.com

 Joint Corporate Brokers

 Zeus (NOMAD): Nick Cowles /Jamie Peel /Jordan Warburton         Tel: +44 (0) 161 831 1512

 Liberum: Clayton Bush / Edward Thomas / Miquela Bezuidenhoudt

                                                                 Tel: +44 (0) 203 100 2222

 Media enquiries:
 Headland Consultancy                                            Tel: +44 (0)20 3805 4822

 Matt Denham / Will Smith / Antonia Pollock                      Revolutionbeauty@headlandconsultancy.com

- Ends -

 

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