REG - SkinBioTherapeutics - Update on Investigation, Interims and Auditors

SkinbiotherapeuticsAnnouncement

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RNS Number : 9558F  SkinBioTherapeutics PLC  28 May 2026

 

 

SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company" or the "Group")

 

Update on the Board Investigation

and

Interim Results

 

Appointment of Auditors

 

28 May 2026 - the Board of SkinBioTherapeutics plc, (AIM: SBTX), the life
science business focused on skin health, announces that its investigation
into, inter alia, the financial statements for the year ended 30 June 2025 is
complete.

 

Consequently, the Board expects that the HY26 results, together with the
restated (unaudited) FY25 results, will be published shortly, along with the
resulting actions both taken and planned in respect of the findings of its
investigation. The Board anticipates that trading in the Company's ordinary
shares will resume following publication of those results.

 

Whilst the Board had expected to publish the HY26 results by the end of May,
there were some difficulties in obtaining all the information and evidence
which the investigating committee considered to be relevant, and finalising
our remediation plans have therefore been slightly delayed.

 

Following the conclusion of a formal competitive tender process, the Company
has appointed Saffrey LLP as the Company's independent auditor for the
financial year ending 30 June 2026 with immediate effect.

 

Any proposal to reappoint Saffrey LLP as independent auditor for the financial
year ending 30 June 2027 will be subject to approval by the Company's
shareholders at the next annual general meeting to be held in 2026.

 

Gravita Audit II Limited, the Company's outgoing independent auditor, has
confirmed that there are no circumstances connected with it ceasing to hold
office that need to be brought to the attention of members or creditors of the
Company for the purposes of section 519 of the Companies Act 2006.

 

-Ends-

For more information please contact:

 SkinBioTherapeutics plc                                  ir@skinbiotix.com
 Martin Hunt, Executive Chairman

Rachel Parsonage, Interim CEO

Emily Bertram, CFO
 Singer Capital Markets (Nominated Adviser & Broker)      +44 (0) 020 7496 3000

Philip Davies

Patrick Weaver
 Vigo Consulting                                          +44 (0) 20 7390 0230
 Melanie Toyne-Sewell, Rozi Morris                        SkinBio@vigoconsulting.com

Notes to Editors

About SkinBioTherapeutics plc

SkinBioTherapeutics is a life science company focused on skin health. The
Group's proprietary platform technology, SkinBiotix(®), is based upon
discoveries made by the translational dermatology team at the University of
Manchester.

The Group's foundation business is targeting the skin healthcare market via
five pillars, the most advanced of which are cosmetic skincare
(SkinBiotix(®)) and food supplements that harness the gut-skin axis
(AxisBiotix™). The cosmetic pillar has a partnership with Croda plc where
SkinBiotix(®) is being used as an active skin ingredient with the Croda trade
name, Zenakine™. The AxisBiotix™ pillar has a range of products targeting
the symptoms of inflammatory skin conditions, being sold directly and via
Amazon, and on the High Street in selected Superdrug Stores plc stores.

The Group is also acting as a consolidator and is making acquisitions in
complementary areas such as skincare and cosmetic applications, that also
bring new distribution and geographical platforms, and manufacturing
capabilities through which it can funnel its in-house pillar products.

The Company listed on AIM in April 2017 and is based in Newcastle, UK. For
more information, visit: www.SkinBioTherapeutics.com
(http://www.skinbiotherapeutics.com) .

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