Source - LSE Regulatory
RNS Number : 9913W
InnovaDerma PLC
29 April 2021
 

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA (SUBJECT TO CERTAIN LIMITED EXCEPTIONS), AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT. NOTHING HEREIN SHALL CONSTITUTE AN OFFERING OF NEW SHARES. NEITHER THIS COMMUNICATION NOR ANY PART OF IT SHALL FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH OR ACT AS AN INDUCEMENT TO ENTER INTO ANY CONTRACT OR COMMITMENT WHATSOEVER.   

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018 ("UK MAR").

TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS GIVEN TO THEM IN THE COMPANY'S ANNOUNCEMENT RELEASED AT 09:19 A.M. 20 JANUARY 2021.

29 April 2021

InnovaDerma PLC

("InnovaDerma" or the "Company")

Trading Statement

InnovaDerma (LSE: IDP), a leading UK developer and supplier of beauty, personal care and life sciences products, is holding its General Meeting, relating to its proposed Fundraising at 10.am today.

 

Ross Andrews, Non-executive Chairman, will make the following statement at today's General Meeting:

"While the macroeconomic environment is set to remain uncertain for the remainder of the financial year, the Government's reopening road map is going according to plan and with promising vaccination rates, consumer category consumption is showing early signs of recovery.  We've just entered the peak tanning season and the exact speed of a return to historical consumption levels will only be known over the coming months.  We remain confident that historic consumption levels will return quickly as further restrictions on social interactions are lifted and that InnovaDerma will emerge from the pandemic a stronger, more digitally agile business with the right leadership to compete and win in the digital commerce world of today.  Indeed, in the UK, 39% of consumers aged 18-34 plan to buy beauty products to celebrate the end of lockdown (The NPD Group/Covid-19 Study). 

"Subject to shareholder approval today, the Placing will enable the acceleration of the Company's global Direct-To-Consumer strategy through capital investment in our e-commerce infrastructure and operational capacity, as well as strengthening the balance sheet."

 

Further enquiries

 

InnovaDerma

Blake Hughes

 

 

c/o TB Cardew

 

finnCap Group

Geoff Nash/Kate Bannatyne/Edward Whiley

Alice Lane/Charlotte Sutcliffe - Corporate Broking

 

+44 (0)207 220 0500

www.finncap.com

TB Cardew

Shan Shan Willenbrock/

Olivia Rosser

 

+ 44 (0)7775 848537

+ 44 (0)20 7930 0777

innovaDerma@tbcardew.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 or visit 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.
 
END
 
 
MSCSEAEFAEFSEDL
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.