IDP Innovaderma Plc

TIDMIDP

RNS Number : 7339T

InnovaDerma PLC

10 January 2017

InnovaDerma PLC

("InnovaDerma" or the "Company")

Directorate Change

InnovaDerma (LON: IDP), a UK developer of 'at-home' and clinically proven treatments for hair loss, hair care, self-tanning and skin rejuvenation, announces that Garry Lemair has notified the Board of InnovaDerma of his intention to step down from his position as a Non-Executive Director of the Company with immediate effect.

The Company has begun the search process for an additional Independent Non-Executive Director and will make an announcement when appropriate.

Until a new Independent Non-Executive Director is appointed, Rodney Turner and Clifford Giles will be the only Non-Executive Directors of the Company and will be the sole members of the Audit Committee, Nomination Committee and Remuneration Committee. The Company does not consider Clifford Giles to be fully independent and therefore it is intended that he will be replaced on the Committees by the new Independent Non-Executive Director once recruited, but will continue to serve as a Non-Executive Director of the Company.

The Company is also undertaking a review of its committee terms of reference and composition to improve operational efficiency and the Company's corporate governance.

Haris Chaudhry, Executive Chairman said:

"On behalf of the Board, we would like to thank Garry for his outstanding contribution during his tenure at InnovaDerma. We are sorry to see Garry leave and wish him and his family well for the future."

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 hair loss, anti-ageing and beauty sectors. InnovaDerma has presence in the UK, US, Australia, New Zealand, Philippines, South Africa, Hong Kong and South Korea.

www.innovaderma.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 10, 2017 02:00 ET (07:00 GMT)

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