2 Mar 2017 11:18
InnovaDerma PLC
("InnovaDerma", the "Company" or the "Group")
Exercise of Share Options
InnovaDerma (LSE: IDP), announces that it has received notification from Stevie K Cosmetics Pty Ltd and Charles + Lee Pty Ltd (the "Vendors") confirming their desire to exercise rights under share options granted by the Company to subscribe for 39,536 ordinary shares of €0.10 each ("Ordinary Shares") with a subscription price of £0.7841 per share with immediate effect.
As previously announced on 27 February, the Vendors were awarded the option to convert the total purchase price of AUS$50,000 into ordinary share shares of the Group, following the Group's acquisition of the Intellectual Property and Assets of the 'Stevie K' and 'Charles + Lee' brands from the Vendors (the "Options").
The Company will allot 39,536 new Ordinary Shares to satisfy the exercise of these Options. The Ordinary Shares will be issued in certificated form and not initially admitted to trading.
Following issue, the Company will have 11,883,772 Ordinary Shares in issue. This figure 11,883,772, is the number which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interests in, the Company under the FCA's Disclosure and Transparency Rules.
Further enquiries:
InnovaDerma Haris Chaudhry/Joe Bayer |
+61 (0)3 9111 0071 |
Sole broker Hybridan LLP Claire Noyce |
+44 (0)203 764 2341 |
Cardew Group Shan Shan Willenbrock David Roach Emma Ruttle |
+ 44 (0)20 7930 0777 |
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/