IDP.L Regulatory News (IDP)

LEI: 213800WRAP6W8VDL6B38

InnovaDerma PLC

("InnovaDerma" or the "Company")

 Annual General Meeting Statement

InnovaDerma (LSE: IDP), a UK developer of life sciences, beauty and personal care products, will hold its Annual General Meeting today at 10.00am at finnCap Ltd, 60 New Broad Street, London EC2M 1JJ. At the meeting, Executive Chairman, Haris Chaudhry, will make the following statement:

"InnovaDerma is now at a strategic inflection point as exclusivity periods end for our flagship products and leading new retailers come on board in the coming months. Skinny Tan will be making its way into c.1,250 Boots stores from March 2019 in time for the commencement of the peak-tanning season and with Roots securing Tesco and Boots distribution, we expect the second half of the year to be disproportionally higher than in previous years given the phasing of new distribution. Our distribution channels will increase significantly this financial year as our UK retail store network grows from c.800 (FY2017) to c.2,400. We expect revenues for the first half of the financial year to be similar to last year and the full year is expected to be approximately £14m."

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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 Europe, US, Australasia, Asia and Africa.