- Beauty products developer InnovaDerma said it had received a requisition notice from shareholder Edale Capital regarding appointments to its board.

The notice proposed resolutions to be held for the re-election of Joseph Bayer and Rodney Turner as directors, in line with good corporate governance.

It also proposed the appointment of a new director.

InnovaDerma said it would call a new general meeting to consider the resolutions.

Its upcoming annual general meeting, scheduled for 11 November, would adjourned and held at the same time as the general meeting in the second half of November.

'The board continues to believe that good corporate governance is important to the operation of the company and supports the proposal to have all directors stand for re-election,' InnovaDerma said.

'The board is also in the process of interviewing the new director and carrying out normal due diligence on the individual.'

'Following this process, the board hopes to be able to make a recommendation to shareholders in favour of the appointment of this director.'

InnovaDerma in August said it had commenced a formal process for the identification and appointment of a new chief executive.

'The company is pleased to report the search is progressing very well,' it said.

At 2:46pm: [LON:IDP] InnovaDerma Plc share price was 0p at 52.5p

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