InnovaDerma PLC (LSE:IDP) acquired the remaining 4% minority shareholding of Skinny Tan Pty Ltd. from the brand's founder for AUD 0.96 million on January 4, 2022. Consideration consists of cash consideration of AUD 0.48 million (£0.26 million), payable in eight equal tranches over a two year period and a proposed issue of 683,152 ordinary shares of €0.10 pence each in the capital of the Company at a price of 37.79 pence per Ordinary Share equating to an additional AUD$0.48 million (£0.26 million). Following the Acquisition, Skinny Tan Pty Ltd and its subsidiary Skinny Tan UK Limited will be wholly owned subsidiaries of InnovaDerma PLC. Piers Linney and Kelly Hoppen will remain shareholders, holding on to their 10% stake. Debora Burns of Notion PR acted as public relations advisor for the transaction. Geoff Nash, Kate Bannatyne and Alice Lane of FinnCap Ltd. acted as financial advisors while Shan Shan Willenbrock and Olivia Rosser of Cardew Group acted as public relations advisors to Innovaderma PLC.

InnovaDerma PLC (LSE:IDP) completed the acquisition of remaining 4% minority shareholding of Skinny Tan Pty Ltd. from the brand's founder on January 4, 2022.