TIDMIDP
RNS Number : 2970M
InnovaDerma PLC
20 January 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NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR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 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").
20 January 2021
InnovaDerma PLC
("InnovaDerma" or the "Company")
Proposed Placing to raise GBP4.0 million
and
Proposed Open Offer to raise up to approximately GBP0.5
million
InnovaDerma (LSE: IDP), a UK developer of beauty, personal care
and life sciences products, today announces a fundraising
comprising the Placing, which was oversubscribed, and the Open
Offer (together, the "Fundraising") to raise up to approximately
GBP4.5 million before fees and expenses through the issue of up to
12,878,040 new ordinary shares of EUR0.10 each in the capital of
the Company (the "Ordinary Shares") to existing shareholders, the
Directors and new institutional investors at an issue price of 35
pence per New Ordinary Share (the "Issue Price").
The Fundraising comprises a placing of 11,428,571 new Ordinary
Shares (the "Placing Shares") at the Issue Price to raise GBP4.0
million (the "Placing") and an open offer to Qualifying
Shareholders (the "Open Offer") for up to 1,449,469 new Ordinary
Shares at the Issue Price to raise up to approximately GBP0.5
million before expenses (the "Open Offer Shares" and, together with
the Placing Shares, the "New Ordinary Shares").
Highlights
-- The Fundraising will raise gross proceeds of up to
approximately GBP4.5 million at the Issue Price.
-- The net proceeds are intended to be used to strengthen
InnovaDerma's balance sheet, provide capital to accelerate the
Company's global Direct-To-Consumer strategy and to enhance its
e-commerce infrastructure and operational capacity.
-- The directors of the Company (the "Directors" or the "Board")
intend to subscribe for, in aggregate, 1,842,855 Placing Shares
through the Placing, further information on which is below.
-- It is expected that admission of the 11,428,571 Placing
Shares will be split into two separate tranches, with the first
tranche consisting of 2,897,000 new Ordinary Shares (the "First
Admission Shares"), issued under the Company's existing authorities
to allot shares, expected to be admitted to listing on the standard
listing segment of the Official List (the "Official List") of the
Financial Conduct Authority ("FCA") and to trading on the London
Stock Exchange plc's (the "London Stock Exchange") main market for
listed securities on 26 January 2021 (the "First Admission"), and
the second tranche consisting of 8,531,571 new Ordinary Shares
(together with the Open Offer Shares the "Second Admission
Shares"), expected to be admitted by no later than 8.00 a.m. on the
third business day following the date of the General Meeting (the
"Second Admission").
-- The Second Admission is conditional, amongst other things,
upon the passing of resolutions (the "Resolutions") to be put to
shareholders at a general meeting (the "General Meeting") granting
authority to the Company to issue the Second Admission Shares and
the Open Offer Shares and to dis-apply pre-emption rights. Further
details of the General Meeting will be announced in due course. In
addition, Second Admission will also require, and be conditional
on, the publication of an FCA-approved prospectus. The Company
will, in due course, publish a prospectus which incorporates a
shareholder circular in connection with the Fundraising (the
"Prospectus"). The Company intends to publish the Prospectus in
March with the General Meeting and Second Admission (post
shareholder approval) occurring towards the end of March.
-- Following the Second Admission, the Placing Shares and the
Open Offer Shares (assuming full take-up) will together represent
approximately 47.0 per cent. of the enlarged issued share capital
of the Company.
-- The Issue Price represents a discount of approximately 28.6
per cent. to the closing mid-market price of 49 pence per Ordinary
Share on 19 January 2021, being the latest practicable date prior
to the publication of this Announcement.
-- Under the Open Offer, Qualifying Shareholders will have an
Open Offer entitlement of 1 Open Offer Share for every 12 existing
Ordinary Shares held.
Blake Hughes, Chief Executive Officer commented:
"InnovaDerma was trading well prior to the onset of COVID-19.
This Placing will ensure we can enhance our strong ecommerce
infrastructure and operational capacity to capitalise on
significant growth opportunities in the digital space as we emerge
from the pandemic."
Further details of the Placing
finnCap Limited is acting as financial adviser and broker
("finnCap") in connection with the Placing.
The New Ordinary Shares, when issued, will be fully paid and
will rank pari passu in all respects with the existing Ordinary
Shares, including the right to receive all dividends and other
distributions declared, made or paid after the date of issue.
Neither the Placing nor the Open Offer is being underwritten.
Application will be made for the New Ordinary Shares to be
admitted to listing on the standard listing segment of the Official
List and to be admitted to trading on the main market for listed
securities of the London Stock Exchange, (together
"Admission").
Settlement for the First Admission Shares is expected to take
place on or before 8.00 a.m. on 26 January 2021. Admission of the
First Admission Shares is conditional upon, among other things,
First Admission becoming effective and the placing agreement
between the Company and finnCap (the "Placing Agreement") not being
terminated in accordance with its terms. Following First Admission,
there will be 17,393,633 Ordinary Shares in issue.
Admission of the Second Admission Shares is conditional upon,
among other things, approval by the shareholders of the Resolutions
at the General Meeting, publication of an FCA-approved Prospectus,
Admission becoming effective and the Placing Agreement between the
Company and finnCap not being terminated in accordance with its
terms and is expected in late March. Further information will be
available in the Prospectus to be published in due course. A
further announcement with regards to the timing of such will be
made when available.
Further enquiries
InnovaDerma
Blake Hughes c/o TB Cardew
finnCap Group
Geoff Nash/Kate Bannatyne/Edward Whiley +44 (0)207 220 0500
Alice Lane/Charlotte Sutcliffe - Corporate www.finncap.com
Broking
----------------------------
TB Cardew
Shan Shan Willenbrock/ + 44 (0)7775 848537
Olivia Rosser + 44 (0)20 7930 0777
innovaDerma@tbcardew.com
----------------------------
IMPORTANT NOTICES
The distribution of this Announcement and/or the Fundraising
and/or issue of the New Ordinary Shares in certain jurisdictions
may be restricted by law. No action has been taken by the Company,
finnCap or any of their respective affiliates, agents, directors,
officers or employees that would permit an offer of the New
Ordinary Shares or possession or distribution of this Announcement
or any other offering or publicity material relating to such New
Ordinary Shares in any jurisdiction where action for that purpose
is required. Persons into whose possession this Announcement comes
are required by the Company and finnCap to inform themselves about
and to observe any such restrictions.
This Announcement or any part of it does not constitute or form
part of any offer to issue or sell, or the solicitation of an offer
to acquire, purchase or subscribe for, any securities in the United
States (including its territories and possessions, any state of the
United States and the District of Columbia (the "United States" or
the "US")), Australia, Canada, Japan or the Republic of South
Africa or any other jurisdiction in which the same would be
unlawful. No public offering of the New Ordinary Shares is being
made in any such jurisdiction.
The New Ordinary Shares have not been approved or disapproved by
the US Securities and Exchange Commission, any state securities
commission or other regulatory authority in the United States, nor
have any of the foregoing authorities passed upon or endorsed the
merits of the Fundraising or the accuracy or adequacy of this
Announcement. Any representation to the contrary is a criminal
offence in the United States. The relevant clearances have not
been, nor will they be, obtained from the securities commission of
any province or territory of Canada, no prospectus has been lodged
with, or registered by, the Australian Securities and Investments
Commission or the Japanese Ministry of Finance; the relevant
clearances have not been, and will not be, obtained for the South
Africa Reserve Bank or any other applicable body in the Republic of
South Africa in relation to the New Ordinary Shares and the New
Ordinary Shares have not been, nor will they be, registered under
or offered in compliance with the securities laws of any state,
province or territory of Australia, Canada, Japan or the Republic
of South Africa. Accordingly, the New Ordinary Shares may
not (unless an exemption under the relevant securities laws is
applicable) be offered, sold, resold or delivered, directly or
indirectly, in or into Australia, Canada, Japan or the Republic of
South Africa or any other jurisdiction outside the United
Kingdom.
Persons (including, without limitation, nominees and trustees)
who have a contractual right or other legal obligations to forward
a copy of this Announcement should seek appropriate advice before
taking any action.
This Announcement may contain and the Company may make verbal
statements containing "forward-looking statements" with respect to
certain of the Company's plans and its current goals and
expectations relating to its future financial condition,
performance, strategic initiatives, objectives and results.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "seek", "may", "could", "outlook" or other words
of similar meaning. By their nature, all forward-looking statements
involve risk and uncertainty because they relate to future events
and circumstances which are beyond the control of the Company,
including amongst other things, United Kingdom domestic and global
economic business conditions, market-related risks such as
fluctuations in interest rates and exchange rates, the policies and
actions of governmental and regulatory authorities, the effect of
competition, inflation, deflation, the timing effect and other
uncertainties of future acquisitions or combinations within
relevant industries, the effect of tax and other legislation and
other regulations in the jurisdictions in which the Company and its
respective affiliates operate, the effect of volatility in the
equity, capital and credit markets on the Company's profitability
and ability to access capital and credit, a decline in the
Company's credit ratings; the effect of operational risks; and the
loss of key personnel. As a result, the actual future financial
condition, performance and results of the Company may differ
materially from the plans, goals and expectations set forth in any
forward-looking statements. Any forward-looking statements made in
this Announcement by or on behalf of the Company speak only as of
the date they are made. Except as required by applicable law or
regulation, the Company expressly disclaims any obligation or
undertaking to publish any updates or revisions to any
forward-looking statements contained in this Announcement to
reflect any changes in the Company's expectations with regard
thereto or any changes in events, conditions or circumstances on
which any such statement is based.
finnCap is authorised and regulated by the FCA in the United
Kingdom and is acting exclusively for the Company and no one else
in connection with the Fundraising, and finnCap will not be
responsible to anyone (including any Placees) other than the
Company for providing the protections afforded to its clients or
for providing advice in relation to the Placing or Open Offer or
any other matters referred to in this Announcement.
No representation or warranty, express or implied, is or will be
made as to, or in relation to, and no responsibility or liability
is or will be accepted by finnCap or by any of its affiliates or
agents as to, or in relation to, the accuracy or completeness of
this Announcement or any other written or oral information made
available to or publicly available to any interested party or its
advisers, and any liability therefor is expressly disclaimed.
No statement in this Announcement is intended to be a profit
forecast or estimate, and no statement in this Announcement should
be interpreted to mean that earnings per share of the Company for
the current or future financial years would necessarily match or
exceed the historical published earnings per share of the
Company.
The price of shares and any income expected from them may go
down as well as up and investors may not get back the full amount
invested upon disposal of the shares. Past performance is no guide
to future performance, and persons needing advice should consult an
independent financial adviser.
The New Ordinary Shares to be issued pursuant to the Placing and
Open Offer will not be admitted to trading on any stock exchange
other than the London Stock Exchange.
Neither the content of the Company's website nor any website
accessible by hyperlinks on the Company's website is incorporated
in, or forms part of, this Announcement.
Background to, and reasons for the Fundraising
InnovaDerma is a UK developer of beauty, personal care and life
science products. The Company has presence in the UK, Europe, US,
Australasia, Asia and Africa, and operates under a number of
different brands including Skinny Tan, Charles + Lee, Roots and
Nuthing.
Innovaderma has built an experienced and digitally focused
UK-based Board and executive team, led by CEO Blake Hughes who has
over 25 years' of experience growing brands and companies within
the beauty and personal care industry. Blake has extensive
experience in eCommerce, brand building, international expansion
and digital marketing having previously held positions within
Procter & Gamble, Elizabeth Arden and Philip Kingsley. The
Board believes now is the appropriate time to implement its growth
strategy, build its brands and strengthen the balance sheet.
The Board are focused on implementing a number of operational
efficiencies as well as simplification and enhancement of the
e-commerce customer experience. The Company is also implementing a
range of profit, cash and gross margin protection measures
including introducing strong overhead cost reductions, operating
with lower year-on-year inventory, increasing marketing and
promotional hurdle rates, and lowering the cost to digitally target
existing customers. All of which the Board is confident will
position the Company to benefit from the substantial growth
opportunities anticipated once the restrictions implemented as a
result of Covid-19 begin to ease.
As outlined in the Company's trading update released on 11
January 2021, the recent underlying performance of the Company has
been negatively affected by the continued impact of Covid-19 and
tighter restrictions imposed in the UK over the important festive
season, and as a result the cash position of the Company has been
materially impacted. Under the leadership of the new CEO,
Innovaderma has been formalising a sharpened strategic focus for
future growth and exploring options to strengthen its balance sheet
to ensure the business is well positioned for the future.
Accordingly, the Board has decided to undertake the proposed
Fundraising in order to both strengthen the Company's balance sheet
and to fund its short term cash requirements, as well as provide
additional capital to accelerate the Company's global
Direct-To-Consumer strategy ("DTC"), and enhance and grow the
Company's e-commerce infrastructure and operational capacity.
Current trading and future prospects
As stated in the Company's recent trading update, the Board
expects H1 revenue to be approximately GBP4.1 million (H1 19:
GBP5.1 million). A decline in UK sales (H1 20: GBP2.9 million, down
approximately 32 per cent.), was partially offset by encouraging
growth in key international markets (H1 20: US GBP0.4 million, up
approximately 17 per cent.; and Australia GBP0.8 million, up
approximately 52 per cent.) led by Skinny Tan. Both Retail as well
as DTC sales have been impacted by a reduction in beauty category
consumption, particularly in the tanning category, due to Covid-19.
DTC remains the priority channel and represents approximately 62
per cent. of the Company's sales (H1 19: 60 per cent.). The Company
expects the tanning category consumption to significantly improve
as Covid-19 restrictions ease, and moreover as the UK enters the
peak tanning season from April to June.
Additionally, the Company expects revenue and EBITDA to be
strongly weighted to H2 FY2021. This reflects the peak tanning
season in the UK and US as well as an anticipated recovery in the
last quarter of the financial year as Covid-19 restrictions ease
and it is therefore expected that the business will be EBITDA
positive in H2.
As announced on 14 January 2021, the Company entered into a loan
agreement (the "Loan Agreement") to provide the Company with a
working capital loan facility of GBP500,000 with Mark Ward, a
non-executive Director of the Company and substantial
shareholder.
Under the Loan Agreement, the loan attracts interest at 5 per
cent. above LIBOR and is repayable on 13 July 2021. As stated at
the time, Mark Ward can require the loan to be repaid early in the
event that the Company raises in excess of GBP2 million through
debt or equity issuance. As a result, it is intended that,
following shareholder approval, the obligation to repay the
GBP500,000 loan facility will be satisfied by the issue of
1,428,571 Placing Shares to Mark Ward.
Use of Proceeds
The Company intends to use the proceeds of the Fundraising as
follows:
Use of funds Estimate
Accelerate the Company's global Direct-To-Consumer GBP2 million
e-commerce strategy through capital investment in
the Company's e-commerce infrastructure and operational
capacity.
---------------
Strengthen the Company's balance sheet , and working GBP2.5 million
capital purposes
---------------
Total Up to GBP4.5
million
---------------
Director Participation and Related Party Transactions
The Directors intend to subscribe for an aggregate of 1,842,855
Placing Shares as set out below:
Director Position Current Current Number of Placing Resultant
number % Holding Shares subscribed holding of
of Ordinary for in the the Enlarged
Shares Fundraising Share Capital
%*
Chief Executive
Blake Hughes Officer - - 128,571 0.47%
----------------- ------------- ----------- ------------------- ---------------
Non-Executive
Ross Andrews Chairman 94,860 0.65% 214,285 1.13%
----------------- ------------- ----------- ------------------- ---------------
Non-Executive
Simon Pyper Director - - 71,428 0.26%
----------------- ------------- ----------- ------------------- ---------------
Non-Executive
Mark Ward Director 2,174,495 15.0% 1,428,571 13.16%
----------------- ------------- ----------- ------------------- ---------------
*assuming full take-up of Open Offer Shares and following Second
Admission
It is proposed that following shareholder approval, the
obligation to repay the GBP500,000 loan facility provided by Mark
Ward will be satisfied by the issue of 1,428,571 Placing Shares to
him
The proposed participation in the Placing by the Directors will
constitute related party transactions as defined under DTR 7.3.
The Fundraising
The Company proposes to raise up to approximately GBP4.5 million
through the issue of the New Ordinary Shares at the Issue Price,
which, at 35 pence, represents a discount of approximately 28.6 per
cent. to the closing mid-market price of an Ordinary Share of 49
pence on 19 January 2021 (being the latest practicable business day
prior to the date of this Announcement).
The Placing comprises a placing of an aggregate of 11,428,571
Placing Shares, to be effected in two tranches. The first tranche
of 2,897,000 new Ordinary Shares will utilise the Company's
existing shareholder authorities to issue new Ordinary Shares on a
non-pre-emptive basis for cash. The second tranche of 8,531,571 new
Ordinary Shares, will be conditional, amongst other things, on the
passing of the Resolutions to be put to shareholders at the General
Meeting. Further information will be available in the Prospectus
expected to be published in early March. A further announcement
will be made in due course.
In addition, the Company has agreed to issue warrants to
subscribe for 214,285 new Ordinary Shares to finnCap. Such warrants
are to be exercisable at the Issue Price for the period of 24
months following the date of the Second Admission.
The Placing Agreement contains customary warranties and
indemnities from the Company in favour of finnCap in relation to,
amongst other things, the accuracy of the information in this
Announcement and other matters relating to the Group and its
business. In addition, the Company has agreed to indemnify finnCap
and its affiliates in relation to certain liabilities they may
incur in respect of the Placing. finnCap can terminate the Placing
Agreement at any time prior to First or Second Admission in certain
circumstances, including in the event of a breach of the warranties
given in the Placing Agreement, the failure of the Company to
comply with its obligations under the Placing Agreement, the
occurrence of a force majeure event which in finnCap's opinion
(acting in good faith) has a material adverse effect on, amongst
other things, the operation of investment markets in the UK, or a
material adverse change affecting the financial, operational or
legal condition of the Group (taken as a whole). If this right is
exercised, the Placing will not proceed. The Placing is not being
underwritten by finnCap (in whole or in part) or by any other
person. The Company has agreed to pay certain fees and commissions
to finnCap in respect of the Placing in so far as they relate to
the new Ordinary Shares.
Application will be made for the 2,897,000 First Placing Shares
to be admitted to listing on the standard listing segment of the
Official List of the FCA and to trading on the London Stock
Exchange's main market for listed securities. It is expected that
First Admission will become effective and that dealings in the
First Placing Shares will commence on the London Stock Exchange by
8.00 a.m. on 26 January 2021. Application will be made for the
second tranche of 8,531,571 Second Placing Shares and the Open
Offer Shares to be admitted to listing on the standard listing
segment of the Official List of the FCA and to trading on the
London Stock Exchange's main market for listed securities and
admission will become effective following the passing of the
Resolutions at the General Meeting, which is expected in late
March. A further announcement will be made with a further update on
timing when available.
It is expected that all of the Placing Shares, when issued and
fully paid, will be capable of being held and transferred by means
of CREST.
The New Ordinary Shares (assuming full take up of the Open
Offer) are expected to represent approximately 47.0 per cent. of
the enlarged issued share capital immediately following Second
Admission.
Details of the Open Offer
The Company considers it important that shareholders who qualify
for the Open Offer ("Qualifying Shareholders") have an opportunity
(where it is practicable for them to do so) to participate at the
same price per Ordinary Share as the Placing and accordingly the
Company is making the Open Offer to Qualifying Shareholders. The
Company is proposing to raise a maximum of approximately GBP0.5
million (before expenses) (assuming full take up of the Open Offer)
through the issue of up to 1,449,469 Open Offer Shares.
The Open Offer Shares will be made available to Qualifying
Shareholders pursuant to the Open Offer at the Issue Price of 35
pence per Open Offer Share, payable in full on acceptance. Any Open
Offer Shares not applied for by Qualifying Shareholders will be
available to Qualifying Shareholders under an excess application
facility.
Qualifying Shareholders will be entitled to apply for Open Offer
Shares under the Open Offer at the Issue Price on the following
basis:
1 Open Offer Share for every 12 existing Ordinary Shares held by
the Qualifying Shareholder on the record date
Further information regarding the Open Offer timetable, and the
terms and conditions on which it is being made will be contained in
the Prospectus to be posted to Shareholders in early March.
The Open Offer will be conditional on the Fundraising becoming
unconditional in all respects and not being terminated before the
Second Admission.
Publication of Prospectus
In connection with the Open Offer and the Second Admission, the
Company expects to publish a Prospectus, following approval by the
FCA, on the Company's website by mid-March 2021 in accordance with
the requirements of the the UK version of Prospectus Regulation
(EU) 2017/1129 which forms part of domestic law pursuant to the
European Union (Withdrawal) Act 2018 (" UK Prospectus Regulation")
and the prospectus rules made by the FCA under Part 6 of the FSMA
("Prospectus Regulation Rules"). The Prospectus will, following
publication, be sent to Shareholders and made available on the
Company's website, https://www.innovaderma.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 will receive a portion of their
Placing Shares on First Admission. Their remaining investment will
follow at the time of Second Admission.
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 EUR0.10 each ("Ordinary Shares")
Financial instrument,
type of instrument
Identification code IDP GB00BT9PTW34
-------------------------------- ---------------------------------
b) Nature of the transaction Purchase of Ordinary Shares
-------------------------------- ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
35p 62,881
----------
-------------------------------- ---------------------------------
d) Aggregated information: See 4c) above
Aggregated volume
Price
-------------------------------- ---------------------------------
e) Date of the transaction 26 January 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 EUR0.10 each ("Ordinary Shares")
Financial instrument,
type of instrument
Identification code IDP GB00BT9PTW34
-------------------------------- ---------------------------------
b) Nature of the transaction Purchase of Ordinary Shares
-------------------------------- ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
35p 37,728
----------
-------------------------------- ---------------------------------
d) Aggregated information: See 4c) above
Aggregated volume
Price
-------------------------------- ---------------------------------
e) Date of the transaction 26 January 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 EUR0.10 each ("Ordinary Shares")
Financial instrument,
type of instrument
Identification code IDP GB00BT9PTW34
-------------------------------- ---------------------------------
b) Nature of the transaction Purchase of Ordinary Shares
-------------------------------- ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
35p 20,960
----------
-------------------------------- ---------------------------------
d) Aggregated information: See 4c) above
Aggregated volume
Price
-------------------------------- ---------------------------------
e) Date of the transaction 26 January 2021
-------------------------------- ---------------------------------
f) Place of the transaction London Stock Exchange, Main
Market
-------------------------------- ---------------------------------
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