IDP.L Regulatory News (IDP)

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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."

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