InnovaDerma PLC Completion of Acquisitions (1189Y)
March 01 2017 - 1:00AM
UK Regulatory
TIDMIDP
RNS Number : 1189Y
InnovaDerma PLC
01 March 2017
InnovaDerma PLC
("InnovaDerma", the "Company" or the "Group")
Completion of Stevie K and Charles + Lee Acquisitions
InnovaDerma (LSE: IDP), a UK developer of 'at-home' and
clinically proven treatments for hair loss, hair care, self-tanning
and skin rejuvenation, is pleased to announce it has completed the
acquisitions of the Intellectual Property and Assets of the 'Stevie
K' and 'Charles + Lee' brands from Stevie K Cosmetics Pty Ltd and
Charles + Lee Pty Ltd (the "Vendors") announced on 27 February
2016. Stevie K is an Australian made line of cosmetics and Charles
+ Lee is a range of men's skincare (the "Acquisitions").
Kate Fissenden, the founder of Stevie K and Charles + Lee
brands, has been appointed a General Manager in the Group,
responsible for the growth and development of both brands. The
minimum term of Kate's employment contract with the Group is three
years.
The purchase price for the Acquisitions was AUS$50,000 (the
"Purchase Price") and no debt or liabilities were assumed by the
Company.
The Vendors now have the option to convert the Purchase Price
into ordinary shares of InnovaDerma within 14 days (the "Option").
If the Vendors exercise the Option, it will be satisfied by the
issuance of approximately 39,700 ordinary shares in InnovaDerma
(the exact number of shares will be calculated based on the average
market price of the shares).
Further enquiries:
InnovaDerma
Haris Chaudhry/Joe Bayer +61 (0)3 9111 0071
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Sole broker
Hybridan LLP
Claire Noyce +44 (0)203 764 2341
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Cardew Group
Shan Shan Willenbrock
David Roach
Emma Ruttle + 44 (0)20 7930 0777
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About InnovaDerma:
InnovaDerma PLC (LSE: IDP) specializes in the research,
manufacture and marketing of clinically proven products in life
sciences, beauty and personal care products. InnovaDerma has
presence in the UK, US, Australia, New Zealand, Philippines, South
Africa, Hong Kong and South Korea.
www.innovaderma.com
About Stevie K and Charles + Lee
-- Stevie K is an award winning, mid-premium priced, bold range
of cosmetics with strong branding and eye-catching packaging
targeted at the irreverent individual in the Millennial and
Generation Zero market. Founded in 2016, the brand is positioned as
Australian made, cruelty free, high quality and edgy. Stevie K
deliberately avoids conventional marketing channels and has strong
association within the beauty and lifestyle digital platforms. It
is well-suited for social media with its extensive range of
striking colours and unconventional style. Announced twice as the
"Best New Aussie Beauty Brand" by national print and digital media,
Stevie K is currently sold online in Australia, the UK, and New
Zealand. http://www.steviekcosmetics.com/
-- Charles + Lee is an affordable alternative premium range of
men's skincare, marketed as an effective and understated brand,
containing natural and organic ingredients. It is cruelty free and
has been certified by the Roundtable on Sustainable Palm Oil
Association. The products are Australian made, currently sold
online at the brand's own website and online at Urban Outfitters in
Australia, New Zealand, the US, and Canada.
http://charlesandlee.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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