InnovaDerma PLC General Meeting and Trading Statement (9913W)

TIDMIDP

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NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA (SUBJECT TO CERTAIN LIMITED EXCEPTIONS),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                 [phone] 
  Alice Lane/Charlotte Sutcliffe - Corporate Broking      www.finncap.com 
                                                      ---------------------------- 
 TB Cardew 
  Shan Shan Willenbrock/                                  + 44 (0)7775 848537 
  Olivia Rosser                                           + 44 (0)20 7930 0777 
                                                          [e-mail] 
                                                      ---------------------------- 
 

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April 29, 2021 02:00 ET (06:00 GMT)