Share Name Share Symbol Market Type Share ISIN Share Description
Innovaderma Plc LSE:IDP London Ordinary Share GB00BT9PTW34 ORD EUR0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 39.50 38.00 41.00 39.50 39.00 39.50 5,002 08:00:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 10.1 1.1 5.5 7.9 11

Innovaderma Share Discussion Threads

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23 October 2020- news no idea what to make of it InnovaDerma PLC ("InnovaDerma" or the "Company") Requisition notice, adjournment of the AGM and progress of CEO appointment InnovaDerma (LSE: IDP), a UK developer of beauty, personal care and life science products, announces that it has received a requisition notice (the "Requisition Notice") from Edale Capital LLP ("Edale"), a shareholder holding in excess of 5% of the Company's voting capital. The Requisition Notice proposed resolutions to be held at the upcoming AGM for the re-election of Joseph Bayer and Rodney Turner in line with good corporate governance. The Requisition Notice also proposed the appointment of a new director. Having consulted with its advisors, the Board believes that the best way to comply with the intention of the Requisition Notice is to call a new General Meeting to consider these resolutions. So that shareholders can consider these resolutions at the same time as the AGM resolutions, the Board intends to adjourn the upcoming AGM scheduled for 11 November to the same date and time as the new General Meeting. It is expected that the adjourned AGM and the new General Meeting will be held in the second half of November. The Company is working with its advisors to put in place the procedures to allow this to happen as smoothly as possible. A formal notice of General Meeting will be produced and issued as soon as possible. The Board continues to believe that good corporate governance is important to the operation of the Company and supports the proposal to have all directors stand for re-election. The Board is also in the process of interviewing the new director and carrying out normal due diligence on the individual. Following this process, the Board hopes to be able to make a recommendation to shareholders in favour of the appointment of this director. As announced on 5 August, the Company commenced a formal process for the identification and appointment of a new CEO who will be based in the UK and will be appointed to the Board. The Company is pleased to report the search is progressing very well. Further announcements will be made in due course. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Maybe he will deal with the Australian centric Board and an executive chair living in South Australia and having to fly to the Victorian office if he wants to meet the team (when he can fly at all). At least lockdown has avoided the cost of Joe and Rodney flying business class from Australia to the AGM plus associated costs!
If you had his stake in IDP, wouldn't you want the company to fly? I think interests are MORE aligned when directors put their money where their mouth is. That said, my only concern is if he tried taking the company private before it had really achieved its potential.
lord loads of lolly
kazoom That is the point. Its a small Board and if a Director is to be added I for one would prefer someone who is truly independent and acting in the interests of all shareholders
freddie4318 Oct '20 - 13:40 - 22991 of 22996 "I see buried in the RNS is acknowledgement that Ward is not an 'independent' NED. Questionable governance. If he has an agenda of his own it should be made visible to all shareholders" Mark Ward cannot be considered to be an independent NED because he is a major shareholder - nothing more complex than that. HTH
He may not be regarded as independent because of the size of his shareholding. I may check the rules later. It means he has a big say in matters like remuneration etc, that's the conflict, not that he's working for someone else
mad foetus
Doc Are you on a retainer. You should be given your recent posts.
Start looking strong , the new appointment appears to have a very good cv having worked foe some very big blue chip companies.
doc robinson
I see buried in the RNS is acknowledgement that Ward is not an 'independent' NED. Questionable governance. If he has an agenda of his own it should be made visible to all shareholders
Looking very promising. Expecting returns on shareholder value will start to accelerate now.
Motivated me to add this morning too. Be nice to get a proper CEO though....and a UK based one again.
Market appears to like appointment will keep adding at these levels.
doc robinson
Not really a conflict of interest. Just a potential lowball buyout threat. But even if this is his ultimate aim, I imagine he'd want to see the company make significant progress first. Which should mean the share price goes a lot higher than current levels within the next year or two.
lord loads of lolly
Definitely a conflict of interest issue here
Given MW's recent share accumulation, this appointment has been on the cards for a while. His experience should prove highly valuable. My only concern, as I've said for a while now, is if he tries to take the company private at a low buyout price.
lord loads of lolly
Good time to add at these levels.way over sold based on last results.
doc robinson
Very good news. Mark's digital expertise will add immense growth. He will probably want to merge this later with a larger global player. Looking good.
As at the date of this announcement 1,786,590 ordinary shares of EUR0.10 each in the Group are held by Mark Michael Ward.Executive Chairman and Interim CEO, Joe Bayer, said :"We are pleased to welcome Mark to the Board. Mark brings with him a wealth of technology and FMCG experience which achieves a key board objective of adding more diversity in digital and marketing expertise to the Company's existing strong, multi-disciplinary Board. We look forward to working with him as we continue to implement our strategy and deliver further successes."Mark Michael Ward said:"I am very excited to join InnovaDerma. I have always had a passion for consumer centric businesses and relish the opportunity to work for InnovaDerma which marries high quality brands and a growing digital platform and distribution network. The business has significant opportunities globally and I look forward to working alongside the team to further grow the business."
anony mous
Interesting owns 12.3% of company already certainly a incentive to grow from a low base with a 7 million market value!!
doc robinson
Looks a very interesting appointment, I've bought back as a result. Trade not showing yet.
donald pond
So Mark Ward is appointed as non exec director Mark is a successful and experienced digital and technology professional with strong links to the consumer and service industries. He founded Hunter Macdonald, a digital transformation and services company in 2013 and under his leadership, the business employed more than 400 employees within 5 years. In 2017, Hunter Macdonald was recognised as being one of the fastest growing companies in the UK and in October of the same year, the business merged with Scandinavian based Netcompany which is now publicly listed on Nasdaq OMX. Mark began his career at PwC working in M&A and operations and spent c.13 years in senior operational director roles for Reckitt Benckiser, Verizon, BT and Friends Life.
....and with that statement Teddy slowly shuffled back to his silly old goat farm.
In my opinion this share is now officially a write off! RIP, Innovaderma!
teddy boy1
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