Joules Group plc Response to media reporting (2581C)

TIDMJOUL

RNS Number : 2581C

Joules Group plc

10 October 2022

This announcement contains inside information within the meaning of the Market Abuse Regulation.

10 October 2022

Joules Group Plc

("Joules", the "Group", the "Company")

Response to media reporting

Joules, the premium British lifestyle group, provides a statement in response to recent media reporting.

Joules continues to make good progress in developing its turnaround plan which focuses on driving higher profitability including through: a better pricing and promotional strategy; focusing on more profitable product categories with shorter time to market; and optimising the Group's channel mix. Joules also continues to make good progress on its simplification agenda and cost management process.

As previously announced, the Group continues to assess its ongoing financing requirements, including a possible equity raise, to allow the Company to strengthen its balance sheet and provide a strong platform to support the turnaround plan. Whilst this remains the Board's focus, the Company also continues to consider a range of other potential options which may be available to it, where a CVA is one of a number of such alternatives, and notes it has not determined if such alternatives are required. A further announcement will be made if and when appropriate.

Enquiries:

 
     Joules Group plc                           Tel: +44 (0) 1858 
                                                          435 255 
     Jonathon Brown, CEO 
      Caroline York, CFO 
     Hudson Sandler (Financial PR)                Tel: +44 (0) 20 
                                                        7796 4133 
     Alex Brennan 
      Charlotte Cobb 
     Peel Hunt LLP (NOMAD and Joint Broker)       Tel: +44 (0) 20 
                                                        7418 8900 
     George Sellar 
      Andrew Clark 
     Liberum Capital Limited (Joint Broker)       Tel: +44 (0) 20 
                                                        3100 2000 
     John Fishley 
      Edward Thomas

This announcement contains inside information within the meaning of the Market Abuse Regulation. The person responsible for arranging release of this announcement on behalf of Joules is Caroline York, Chief Financial Officer.

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END

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October 10, 2022 02:00 ET (06:00 GMT)

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