Skin Elements Limited (ASX: SKN) has received a notice under section 249D of the Corporations Act 2001 from Kingsbury Wealth Pty Ltd, as trustee for the Kingsbury Investments Unit Trust, requisitioning a general meeting. Skin Elements is an Australian biotechnology healthcare company focused on commercialising the anti-microbial SE FormulaTM through natural and organic health care products. Their innovative plant-based approach has enabled the creation of a diverse product portfolio sold worldwide.
The Section 249D notice requests the removal of Mr. Filippo (Phil) Giglia as a director of the Company. Kingsbury Wealth currently owns 7.3% of the ordinary shares in Skin Elements. Notably, Roderick Nicholas, a current director of Skin Elements, also serves as the sole director of Kingsbury Wealth Pty Ltd.
Skin Elements has acknowledged receipt of the notice and is currently considering its implications. The company is obtaining advice regarding the Section 249D Notice to ensure compliance with all relevant regulations and to determine the appropriate course of action.
Skin Elements has committed to updating its shareholders on the outcome of the review process in due course, in accordance with the ASX Listing Rules. This announcement has been authorised for release by the Company Secretary, Stuart Usher. Investors and interested parties can find further information on the Skin Elements website.
