The Skinbiotherapeutics board has brought in advisers to carry out an investigation into matters relating to the former CEO’s conduct

Shares have tumbled by almost 70% in less than a week at listed Newcastle skincare firm Skinbiotherapeutics Plc after its board dropped revenue and profit expectations in the wake of an investigation into its former CEO.

Stuart Ashman – an experienced life sciences executive – was suspended by the Helix-based firm’s board following concerns about his conduct which led the company to bringing in advisers. He later resigned, with the launch of the investigation then announced to investors on the London Stock Exchange late last Friday.

Mr Ashman had led the business – which focuses on the microbiome to promote wound healing and reduce the risk of infection – since 2019, overseeing a period of significant growth. Since the investigation was set in motion shares at SkinBioTherapeutics, based at The Core at the Helix, have plummeted, from 19.52p on Thursday February 12, to 5.95p by mid-morning on Monday, February 13– a fall of 69% over the last five days.

In an update to shareholders, the AIM-listed firm said that over recent days, it has been “urgently conducting an investigation of the business” and that in light of the newly available information, the board “has reason to believe that the former CEO has misrepresented material information to the board and senior management, the company’s auditors and advisors”.

It said the former CEO was informed of the allegations on Sunday, February 15 and that the investigation is continuing, having reported findings so far to the company’s auditors. It said accrued royalty income was included in the audited FY25 accounts “due to a potential misrepresentation”, triggering the decision to “seek to reverse these sums from the Group FY25 accounts completely”.

The board said it expects to remove £770,000 in accrued royalty income from the accounts, “subject to confirmation by the company’s auditors”, but added that it is satisfied with the health of the business. As a result of the board’s investigation and the removal of the accrued royalty income, the board said it anticipates results for the year ended June 30 2026 will be significantly below current market expectations. Market expectations had been that revenue would reach £6.2m and adjusted Ebitda would be £700,000.

It stressed that following its initial findings the board concluded that contracts held with key partners and customers remain sound and that there is strong future potential of the SkinBiotix technology and the company’s strategy to develop products in skin care and skin health.

The market note said: “Information received late on Friday 13 February 2026 has cast significant doubt on the validity of the accrued royalty income recorded in the audited accounts for the year ended 30 June 2025 . The board currently expects that the FY25 accrued royalty income, which amounted to £0.77m, will be removed from the FY25 accounts, subject to confirmation by the company’s auditors.

“The board is confident, however, in the underlying financial health of the business due to its robust cash position (£2.92m as at 13 February 2026). Whilst the board believes this is an isolated incident, nevertheless, it has instigated a broader investigation to review all of the group’s businesses with respect to financial reporting and operations.”

The note added that Martin Hunt, non-executive chairman, has stepped into the executive chairman role temporarily.

It added: “The board investigation is confident in the quality of the management team, the future potential of the products and underlying businesses, all supported by a solid cash balance. The company’s search to find an interim CEO and to find a new, permanent CEO for the longer term is progressing and further announcements will be made in due course.”

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The consumer goods giant behind Imperial Leather and Sanctuary Spa is battling to win purchases on social commerce platforms alongside traditional retail

The company behind Imperial Leather and Sanctuary Spa has said that reaching consumers on platforms such as TikTok Shop was as crucial as Tesco, as the 142 year old business strives to compete with an emerging wave of social media-savvy brands.

Manchester-based PZ Cussons – the consumer goods giant that was established in 1884 and is responsible for a range of beauty, hygiene and baby products – said it had been investing more heavily in innovation and brand development.

Chief executive Jonathan Myers said the business has to “battle every day to win every purchase”.

“There’s hardly a store in the country that sells a washing and bathing product that doesn’t sell a PZ Cussons product,” he told the Press Association.

However, he said the company had been attempting to remain at the forefront of online shopping trends that many newer brands are capitalising on.

“If you look at the way that most of the insurgent brands are arriving, it’s through social media, and that blurs into e-commerce platforms, for example TikTok Shop,” he said.

“It’s about making sure that we’re present, that we’re growing fast, and that we’re stealing our share of purchases there, just as we would a Tesco Express down the street.”

TikTok Shop, the e-commerce division of the video-sharing social media platform where users can buy and sell products, has expanded rapidly over recent years.

Major retailers such as Marks & Spencer and Sainsbury’s are now selling products on the marketplace alongside thousands of smaller businesses and brands. TikTok Shop recently announced it had ascended to the fourth-largest beauty retailer in the UK, as per data from NielsenIQ, with beauty sales on the platform skyrocketing by 60% year-on-year in 2025, driven by trends such as Korean skincare.

Mr Myers spotlighted PZ Cussons’s ventures in Indonesia – where it has been trialling new sales strategies, including a live-streaming channel from its factory.

He stated: “We run three shifts of live-streamers who are driving demand for our brands that is then fulfilled through marketplaces like TikTok Shop, and delivered on the back of a moped.”

TikTok sales in Indonesia have surged over 600%, where PZ Cussons currently operates a TikTok Shop.

The chief executive expressed he could “definitely see the rise of quick commerce” in urban areas of the UK, hastened by the “blurring” of social media and shopping channels.

Mr Myers emphasised there was no space for “complacency”, adding: “Competition is good because it keeps us on our toes.”

Michael Jordan, the six-time NBA champion and co-owner of 23XI Racing, added a new championship moment to his legendary resume on February 15, 2026, when driver Tyler Reddick won the 68th Daytona 500 at Daytona International Speedway. Reddick’s last-lap surge past Chase Elliott gave Jordan his first victory in NASCAR’s premier event as a team owner, capping a chaotic, wreck-filled “Great American Race” and marking a redemption arc for both the driver and the organization.

Jordan, who turns 63 on February 17, 2026, was visibly emotional in Victory Lane, bear-hugging Reddick and jointly hoisting the Harley J. Earl Trophy with the 30-year-old Californian. “It feels like winning a championship, like a huge championship,” Jordan told reporters post-race, his voice cracking with excitement. The moment echoed his NBA glory days, but this time the celebration came on asphalt rather than hardwood.

Reddick, driving the No. 45 Toyota for 23XI Racing, led only the final lap in a race defined by strategy, survival and late chaos. He navigated two major multi-car wrecks on the closing circuits, including one that eliminated several contenders, then executed a bold outside-to-inside move to overtake Elliott as they crossed the line. Reddick finished ahead of Ricky Stenhouse Jr., Joey Logano, Chase Elliott and Brad Keselowski in a photo-finish that thrilled a packed grandstand.

The win was Reddick’s ninth career Cup Series victory in 219 starts and his first Daytona 500. It also marked the 10th triumph for 23XI Racing since its 2021 debut, co-owned by Jordan and three-time Daytona 500 winner Denny Hamlin. “When you’re a Cup driver and you get to this level and drive for Michael Jordan, you know it’s expected you win every single year,” Reddick said in his post-race interview with Fox Sports. “Last year was really hard for all of us. This means everything.”

The 2025 season had been winless for Reddick and frustrating for 23XI, compounded by ongoing legal battles with NASCAR over charter agreements (settled earlier in 2026). The Daytona triumph turned that page emphatically. Reddick, from Corning, California, praised his team’s preparation and his own instincts during the frantic finish: “It felt slow and smooth from my seat. I trusted what I saw and went for it.”

Jordan’s presence amplified the celebration. The NBA Hall of Famer, who has invested heavily in motorsports since retiring from basketball, watched from the pits and rushed to Victory Lane for the trophy hoist. Video footage showed him teary-eyed, sharing a quiet moment with Reddick before the crowd’s roar. “I love it. I absolutely love it,” Jordan told The Athletic’s Jordan Bianchi. He later joked about needing a size-13 ring for his upcoming birthday.

The race itself was a classic superspeedway thriller. Multiple big wrecks thinned the field, with favorites like Kyle Larson and William Byron caught in incidents. Reddick stayed composed, conserving tires and fuel while positioning for the end. His move on the final lap avoided the chaos that claimed others, securing the win in dramatic fashion.

For 23XI Racing, the victory validates Jordan and Hamlin’s vision. The team, which fields cars for Reddick and Bubba Wallace (who finished 10th), has grown into a consistent contender. Hamlin, absent from the driver’s seat but integral as co-owner, celebrated from afar. The win boosts morale amid NASCAR’s evolving landscape, including charter stability and rising competition from manufacturers.

Post-race, Reddick dedicated the victory to his team and family, including his young son Beau, who joined the celebration. Jordan, ever the competitor, emphasized the shared joy: “This is what it’s about—building something special and winning big.” Social media exploded with clips of Jordan’s embrace and trophy lift, trending under hashtags like #MJDaytonaWin and #Reddick500.

As NASCAR’s season opener, the Daytona 500 win propels Reddick into title contention. For Jordan, it’s another ring in a collection that now spans basketball and auto racing. The 2026 campaign starts with momentum, proving that even legends find new ways to celebrate triumph.

Q4: 2026-02-11 Earnings Summary

EPS of $0.16 misses by $0.00

 | Revenue of $211.90M (16.21% Y/Y) beats by $9.94M

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For millionaire business owner Frederic Lepoutre, the decision to move his family from the South Florida coast to Texas Hill Country wasn’t just about a change of scenery — it was a lesson in efficiency.

While building a custom home in a place like Broward County can be a yearslong odyssey of red tape and soaring insurance premiums, Lepoutre saw his 11-acre Texas estate go from breaking ground to move-in ready in just over 12 months. 

With an initial property tax bill of just $8 on his land and insurance costs one-fifth of what he’s paid for decades in the Sunshine State, Lepoutre is part of a growing wave of high-net-worth individuals proving that, in 2026, the Lone Star State isn’t just winning on taxes — it’s winning on speed.

“I think it already has [surpassed Florida as the center of gravity],” Lepoutre told Fox News Digital. “First of all, you have the land for manufacturing. You don’t have it here in Florida… it’s a huge state… and part of West Texas now, you hear about AI factories that are building up.”

“I think it will if it hasn’t already,” Lepoutre’s wife, Lynn Lepoutre, also said.

THE ‘POISON PILL’ AND DIGITAL SECRETS FLIPPING THE SUNSHINE STATE’S CONDO POWER DYNAMIC

“Americans are voting with their feet. They want places that are livable. They want places that are workable. They want places that are sustainable and affordable,” Texas REALTORS Chair Jennifer Wauhob told Fox News Digital. “And so I think this migration, as we call it, is really turning into a long-term shift.”

A growing wealth and population migration to Texas “does not feel episodic,” according to Texas REALTORS Chair Jennifer Wauhob. (Getty Images)

Recent data from Texas REALTORS shows that one-third of new residents are coming from California, Florida, New York and Colorado, with 30% of interstate movers choosing to relocate to Dallas. Texas’ median home price currently sits at $335,000, below the national average of about $415,000.

While younger workers and families may flock to bigger cities and their suburbs, the semi-retired Lepoutres – who oversee National Textile and Apparel and invest in oil and gas – purchased their land in a remote area near Bandera and Kerrville, a few hours’ drive west of San Antonio. They had to purchase at least 10 acres per a county minimum mandate, and bought the land three years ago for $26,000 per acre.

Plans for a second home were long in the works, and Texas not only provided enough land for their project, but Lepoutre claimed the initial tax bill with agricultural exemptions was $8 per year (while the home itself awaits formal assessment) and the regulatory environment allowed for quick construction turnaround.

“It takes three years to build a house here. It took us one year from literally getting the ground ready to moving in. In Texas, it took us one year, and the only permit we needed was for the water well and the sewer system,” Lepoutre said. “It’s the opposite [of Florida]. It’s a total 180.”

“The highways, the infrastructure, they’re quick. They move fast. There’s no resting on their laurels,” Lynn said. “If they’re building a highway, it’s finished. They get it from start to finish quickly.”

“We were looking for peace, quiet, tranquility, privacy and a slower pace,” Lynn added. “When we were looking online [at homes], it’s either an older home, and we wanted to build a house together. We already pretty much knew exactly what our design would be. You couldn’t find that [anywhere].”

WALL STREET’S TEXAS MOVE GAINS STEAM AS N.Y.S.E. TEXAS HITS 100-COMPANY MILESTONE

Their new home is off-grid enough that they had to build a private 600-foot water well and switchback mountain-style driveway, which makes package delivery a “nightmare” as items are often left at the bottom and must be retrieved by four-wheel drive. Additionally, there’s a remote-specific helicopter ambulance service membership that’s offered due to their rural location.

“We wanted to be somewhere where you can look at the stars at night and not see one light. You can’t see your neighbors. The trees are still low enough where you can see out, the view from our house now is 40 miles,” Lepoutre said. “It’s very rare to see properties like this in America anymore.”

“I’ve been [in Florida] since ‘88, so I’m ready for the change, and I just like the way of life in Texas and the people in Texas, and it’s just a nice, refreshing place to be,” Lynn said. “Everything’s bigger in Texas.”

“What we’re seeing with this migration of all these people moving to our state is, it’s creating a really steady demand for housing, and that spans to all levels. We’re seeing a demand for entry-level housing, and we’re still seeing a strong demand for luxury-level housing. So it’s, right now, a really balanced, healthy market,” Wauhob noted, “and all these people coming in here, it’s just creating good things for Texas.”

“If you don’t like sitting at a saloon or a bar or a restaurant… and you don’t like to be talked to, don’t move to Texas.”

– Frederic Lepoutre

“I am a native Texan, but I did spend some time moving around the country for my husband’s job. And I can say, having to live in other states, people who move here, they are very happy with how far their housing dollar goes,” she continued.

As more and more companies dual-list on the NYSE Texas, Texas is also seeing executive relocations happen in waves. Wauhob briefly discussed how REALTORS work with state economic development teams to ensure there is enough housing to meet the rising residential and corporate demands.

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“We’re really trying to be proactive. We don’t wanna be trying to catch up after all these people get here. We wanna think ahead, plan ahead, and make sure that when people get there, we have infrastructure in place and we have healthy communities for them to move into,” the chair said.

“I would say this does not feel episodic to me. If you look at the data, this has been going on for several years in a row now,” Wauhob expanded. “We have a steady flow of people coming here. We’re not seeing big surges, which is a great thing because we wanna have slow, steady growth. So to me, this is something to keep an eye on. I don’t think it’s gonna go away anytime soon… people are coming, and they’re not leaving.”

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