REG - Revolution Beauty Gp - Related party transactions

Revolution BeautyAnnouncement

23/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240923:nRSW1320Fa&default-theme=true

RNS Number : 1320F  Revolution Beauty Group PLC  23 September 2024

For immediate release

23 September 2024

Revolution Beauty Group plc

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

Related party transactions

 

Revolution Beauty (AIM: REVB), announces that it has agreed to manufacture and
supply beauty and personal care products via its manufacturing subsidiary,
Revolution Beauty QB Ltd ("Revolution Labs"), for Carbon Theory Limited and
Delhicious Ltd, companies in which Adam Minto has an equity interest (the "AM
Companies").

The aggregate value of the revenue and profits before tax to be generated in
the current financial year by Revolution Labs from sales to the AM Companies
amounts to approximately £530,000 and £50,000, respectively. The pricing for
the products to be sold have been agreed on an arm's length basis, benchmarked
against similar transactions, with equivalent terms as other third party
customers of Revolution Labs. The transactions will be settled in cash
according to Revolution Labs' normal credit terms and details will be
disclosed in the financial statements of the Group for the relevant period,
being the current financial year.

The supply of products to the AM Companies constitute related party
transactions under Rule 13 of the AIM Rules by virtue of the AM Companies
being associates of Adam Minto, a substantial shareholder of Revolution
Beauty, as defined in the AIM Rules, holding approximately 15.34% of the
ordinary shares in the Company.  The directors of Revolution Beauty consider,
having consulted with the Company's nominated adviser, Panmure Liberum Capital
Limited, that the terms of the related party transactions are fair and
reasonable insofar as shareholders of Revolution Beauty are concerned.

 

For further information, please contact:

 

Investor Relations

Lauren Brindley, CEO

Neil Catto, CFO

Investor.Relations@revolutionbeautyplc
(mailto:Investor.Relations@revolutionbeautyplc) .com

 

Joint Corporate Brokers

Panmure Liberum Capital Limited (NOMAD): Edward Thomas / Dru Danford / John
More

Tel: +44 (0) 203 100 2222

 

Zeus: Nick Cowles / Jamie Peel / Jordan Warburton

Tel: +44 (0) 161 831 1512

 

Media enquiries

Headland Consultancy: Matt Denham / Antonia Pollock

Tel: +44 (0)20 3805 4822

Revolutionbeauty@headlandconsultancy.com
(mailto:Revolutionbeauty@headlandconsultancy.com)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCDGGDCCXDDGSG