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.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