Enhance Skin Products Inc. Files Form 15 to Terminate SEC Reporting Obligations
June 15 2017 - 9:56AM
Marketwired
Enhance Skin Products Inc. Files Form 15 to Terminate SEC
Reporting Obligations
RENO, NV-(Marketwired - Jun 15, 2017) - Enhance Skin Products
Inc. (OTCBB: EHSK), today announced that on June 15, 2017 it
voluntarily filed a Form 15 with the United States Securities and
Exchange Commission (the "Commission" or "SEC") to voluntarily
deregister its common stock and suspend its reporting obligations
under the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). The Company cited the significant cost, limited
benefit and very limited trading of its stock as some of its
reasons in taking this step. In addition, on December 2, 2016, the
Company sold to Integumen Inc. substantially all of its assets and
certain of its liabilities, and its primary asset is now 29,488,144
fully paid ordinary shares of one pence each of Integumen plc
representing 17.87% of the issued and outstanding shares of
Integumen plc. After the sale, the Company has not engaged in any
business activities except to the extent necessary to preserve the
value of its assets, transfer its assets and knowhow, and shall in
due course wind up its business affairs and give effect to the
dissolution of the Company in accordance with its previously
disclosed plan of reorganization, liquidation and dissolution.
As a result of the filing of Form 15 with the Commission, the
Company will no longer be required to file certain reports under
the Exchange Act, including quarterly reports on Form 10-Q, annual
reports on Form 10-K, and current reports on Form 8-K. Other filing
requirements will terminate upon the effectiveness of the
deregistration, which is expected to occur 90 days after the filing
of the Form 15 with the Commission.
Despite electing to suspend its reporting obligations, the
Company plans to voluntarily file a Form 8-K with the Commission,
following the close of its current fiscal year, to include certain
financial information for the year ended April 30, 2017.
Interested parties can follow the activities of Integumen plc.
quoted on the AIM market of the London Stock Exchange via its
website www.integumenplc.com
The members of the Company's Board of Directors voted
unanimously to file Form 15 after deliberation and consideration of
the advantages and disadvantages of being an SEC reporting company.
The Company's Board of Directors considered many elements in
reaching their decision, including: the substantial costs, both
direct and indirect, associated with the preparation and filing of
periodic reports with the SEC, the minimal liquidity for the
Company's common stock, the additional outside legal and accounting
resources required, the amount of time management spends on
reporting documents, as well as the limited operations of the
Company following the sale of substantially all of its assets to
Integumen Inc.
Contact Information
Contact Info Enhance Skin Products Inc. 50 West Liberty Street,
Suite 880, Reno, Nevada 89501 www.visibleyouth.com Tel:
416-306-2493