Skin Elements Limited (ASX: SKN), an Australian biotechnology healthcare company focused on commercialising the anti-microbial SE FormulaTM through natural and organic health care products, has received a notice under section 249D of the Corporations Act 2001 from Kingsbury Wealth Pty Ltd. Kingsbury Wealth, trustee for the Kingsbury Investments Unit Trust, is seeking the removal of Mr. Filippo (Phil) Giglia as a director of the Company. Kingsbury Wealth owns 7.3% of the ordinary shares in Skin Elements.
Roderick Nicholas, a current director of Skin Elements, is also the sole director of Kingsbury Wealth. The Section 249D Notice requisitions a general meeting of the company to vote on the proposed removal of Mr. Giglia.
Skin Elements is currently considering the Section 249D Notice and obtaining advice regarding its implications. The company has stated that it will update its shareholders on the outcome of the review in due course, adhering to the ASX Listing Rules. The announcement was authorised for release by the Company Secretary, Stuart Usher.
Further information can be obtained from Skin Elements’ Executive Chairman, Peter Malone, or Mandate Corporate’s James Moses. Skin Elements’ diverse product range includes the SuprCuvr disinfectant, Eco Nurture plant bio-stimulant, and Soléo Organics sunscreen.
