Source - LSE Regulatory
RNS Number : 0989X
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NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA (SUBJECT TO CERTAIN LIMITED EXCEPTIONS),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 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").

29 April 2021

InnovaDerma PLC

("InnovaDerma" or the "Company")

 

Result of Open Offer and General Meeting

and

Director/PDMR Shareholding

 

InnovaDerma (LSE: IDP), a leading UK developer and supplier of beauty, personal care and life sciences products, is pleased to announce that, further to the announcement on 12 April 2021, the Resolutions put to Shareholders at the General Meeting held earlier today in connection with the  9,981,040 new ordinary shares pursuant to the Placing and Open Offer (together the "Fundraising") were duly passed. Voting was held by way of a poll and all of the votes cast by way of the poll were cast in favour of the resolutions.

 

 

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meaning as defined in the announcement the Placing, and Open Offer made by the Company on 20 January 2021.

 

Result of Open Offer

In addition, the Company is pleased to announce that valid applications have been received in respect of, and the Company will issue, 1,449,469 Open Offer Shares, raising gross proceeds of £0.5 million and taking the total proceeds of the Fundraising to £4.5 million.

 

The Company received valid acceptances in excess of the 1,449,469 Open Offer Shares being offered to Qualifying Shareholders.  The Open Offer was significantly oversubscribed and the Directors will use their discretion to undertake an appropriate scaling back process.

 

Director/PDMR Shareholding

The Company has been notified that Ross Andrews, Non-Executive Chairman of the Company has taken up entitlements to subscribe for 13,145 additional new Ordinary Shares under the Open Offer.

 

As a result of this transaction, Ross Andrews' beneficial interest in the Company following Admission is 322,290 Ordinary Shares representing 1.17 per cent of the Company's total voting rights.

 

Admission & Total Voting Rights

Application has been made to the London Stock Exchange for the 9,981,040 New Ordinary Shares to be admitted to trading. It is expected that Admission will become effective and dealings will commence in the Second Admission Shares at 8.00 a.m. on 30 April 2021.

 

Following Admission, the Company will have in issue 27,374,673 Ordinary Shares, with no shares held in treasury. Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

 

Blake Hughes, CEO of InnovaDerma said:

"I would like to thank our current and new shareholders for their commitment and strong vote of confidence in InnovaDerma. Whilst we have made good progress over recent months, including enhancing our digital marketing expertise and rolling out a new Skinny Tan website, this investment opens up an exciting future for transforming InnovaDerma.  It will enable us to further accelerate the execution of our sharpened Company strategy, shared in March, through capital investment in our e-commerce and operational capabilities, as well as strengthening the balance sheet.

 

"Through this new digital and consumer insight centric strategy, and supported by our UK based, digitally focused board, we now have the right agility, the right structure and the right resources in place to succeed in the digital e-commerce driven world which we live in today.

 

"This is an exciting time for New InnovaDerma and I look forward to updating shareholders with our future progress."

 

Further enquiries

 

InnovaDerma

Blake Hughes

 

 

c/o TB Cardew

 

finnCap Group

Geoff Nash/Kate Bannatyne/Edward Whiley

Alice Lane/Charlotte Sutcliffe - ECM

 

+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

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

Pursuant to the split First and Second Admissions, Blake Hughes, Ross Andrews and Simon Pyper received a portion of their Placing Shares on First Admission. Their remaining investment has been included within the Second Admission along with Mark Ward as detailed below.

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Ward

2. 

Reason for the Notification

 

a)

Position/status

Non-Executive Director

b)

Initial notification/Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

InnovaDerma PLC

 

b)

LEI

213800WRAP6W8VDL6B38

 

4. 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description of the Financial instrument, type of instrument

€0.10 each ("Ordinary Shares")

Identification code

IDP   GB00BT9PTW34

 

b)

Nature of the transaction

Satisfaction of the obligation to repay £500,000 loan facility provided by Mark Ward through the issuance of 1,428,571 Placing Shares. 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

35p

1,428,571

 

d)

Aggregated information:

Aggregated volume

Price

 

See 4c) above

 

e)

Date of the transaction

30 April 2021

 

f)

Place of the transaction

London Stock Exchange, Main Market

 

 

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ross Andrews

2. 

Reason for the Notification

 

a)

Position/status

Non-Executive Chairman

b)

Initial notification/Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

InnovaDerma PLC

 

b)

LEI

213800WRAP6W8VDL6B38

 

4. 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description of the Financial instrument, type of instrument

€0.10 each ("Ordinary Shares")

Identification code

IDP   GB00BT9PTW34

 

b)

Nature of the transaction

Purchase of Ordinary Shares

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

35p

164,549

 

d)

Aggregated information:

Aggregated volume

Price

 

See 4c) above

 

e)

Date of the transaction

30 April 2021

 

f)

Place of the transaction

London Stock Exchange, Main Market

 

 

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Blake Hughes

2. 

Reason for the Notification

 

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

InnovaDerma PLC

 

b)

LEI

213800WRAP6W8VDL6B38

 

4. 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description of the Financial instrument, type of instrument

€0.10 each ("Ordinary Shares")

Identification code

IDP   GB00BT9PTW34

 

b)

Nature of the transaction

Purchase of Ordinary Shares

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

35p

90,843

 

d)

Aggregated information:

Aggregated volume

Price

 

See 4c) above

 

e)

Date of the transaction

30 April 2021

 

f)

Place of the transaction

London Stock Exchange, Main Market

 

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Simon Pyper

2. 

Reason for the Notification

 

a)

Position/status

Non-Executive Director

b)

Initial notification/Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

InnovaDerma PLC

 

b)

LEI

213800WRAP6W8VDL6B38

 

4. 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description of the Financial instrument, type of instrument

€0.10 each ("Ordinary Shares")

Identification code

IDP   GB00BT9PTW34

 

b)

Nature of the transaction

Purchase of Ordinary Shares

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

35p

50,468

 

d)

Aggregated information:

Aggregated volume

Price

 

See 4c) above

 

e)

Date of the transaction

30 April 2021

 

f)

Place of the transaction

London Stock Exchange, Main Market

 

 

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