Silverwood Brands - Lush transaction update; legal proceedings notice
Announcement provided by
Silverwood Brands PLC · SLWD27/07/2023 07:00
Silverwood Brands Plc
("Silverwood" or the "Company")
Update on Lush Transaction; Notice of Legal Proceedings
Silverwood Brands plc ("the Company") (AQSE: SLWD), a holding company established to invest primarily in branded consumer businesses, wishes to advise shareholders that on 26 July 2023, the Company received service of legal proceedings from Lush Cosmetics Limited and Cosmetic Warriors Limited (together "Lush").
Lush is seeking, inter alia, declaratory relief that the transfers of shares in Lush to Cosmic Circles Limited, the wholly owned subsidiary of Silverwood, were not compliant with their Articles of Association and that they were entitled to refuse to register the transfers. Silverwood disagrees with Lush and is seeking legal advice in relation to its next steps.
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Silverwood Brands plc |
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Paul Hodgins |
info@silverwoodbrands.com |
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VSA Capital - AQSE Corporate Adviser and Broker |
+44(0)20 3005 5000 |
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Andrew Raca, Simba Khatai, Alexander Cabral (Corporate Finance) Andrew Monk, David Scriven, Peter Mattsson (Corporate Broking)
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