Skin Elements Limited (ASX: SKN), an Australian biotechnology healthcare company focused on the commercialisation of the anti-microbial SE FormulaTM, has received a notice under section 249D of the Corporations Act 2001 from Kingsbury Wealth Pty Ltd, trustee for the Kingsbury Investments Unit Trust. Skin Elements’ innovative approach to plant-based and organic personal care and skincare products has enabled the creation of a portfolio of products sold and distributed worldwide. Kingsbury Wealth currently holds 7.3% of Skin Elements’ ordinary shares.
The 249D notice requisitions a general meeting of the company with the aim of removing Mr. Filippo (Phil) Giglia from his position as a director. According to the announcement, Roderick Nicholas, a current director of Skin Elements, also serves as the sole director of Kingsbury Wealth.
Skin Elements has stated that it is currently reviewing the Section 249D Notice and seeking external advice. The company has committed to updating its shareholders on the outcome of this review in due course, in accordance with ASX Listing Rules.
The announcement was authorised for release by Company Secretary, Stuart Usher. Further details can be found on the company’s website.
