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RNS Number : 3366H

Silverwood Brands PLC

27 July 2023

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.

 
 Silverwood Brands plc 
 P aul Hodgins                                  info@silverwoodbrands.com 
                                               -------------------------- 
 
 VSA Capital - AQSE Corporate Adviser and       +44(0)20 3005 
  Broker                                         5000 
                                               -------------------------- 
 Andrew Raca, Simba Khatai, Alexander Cabral 
  (Corporate Finance) 
  Andrew Monk, David Scriven, Peter Mattsson 
  (Corporate Broking) 
                                               --------------------------

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July 27, 2023 02:00 ET (06:00 GMT)

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