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CODEIFAI LIMITED — Board/Management Information 2022
May 30, 2022
64630_rns_2022-05-30_d19ef4f7-7969-42e7-9f7d-1eef7ce52b40.pdf
Board/Management Information
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ASX ANNOUNCEMENT ASX:YPB | 31[st] May 2022
YPB restructures to lower costs and drive revenue
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Finance function restructured
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Opex reduced while sales resources increased
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Martin Ross promoted to Chief Operating Officer
Anti-counterfeit and consumer engagement solutions provider YPB Group Limited (ASX: YPB) is pleased to announce a restructure of the Finance function to allow increased investment in sales and marketing while reducing total costs.
Having helped the company to implement strong financial systems with the finance team over the past two years, Adrian Tan, CFO, has resigned effective 31[st] May 2022 to further pursue his career. Given the company’s size and now modernised financial systems, a CFO is no longer required, and a new Head of Finance and Accounting has been appointed. The change will result in a meaningful cost saving, freeing resources for re-investment in increased sales and marketing.
As part of the restructure, Martin Ross will be promoted from Group Commercial Director to Chief Operating Officer reporting to the CEO. Martin has done an outstanding job building client relationships and driving Sales and Marketing which he will continue to lead and will now work even more closely with the technical team to ensure all R&D is pinpoint targeted to drive product uptake.
The Head of Finance and Accounting will be based in Bangkok along with YPB’s Technical team, operations and marketing functions.
YPB Group CEO John Houston said: “I would like to thank Adrian Tan for his professionalism and dedication and wish him well for his future endeavors. I congratulate Martin Ross for his promotion. The restructuring will allow costs to be reduced while speeding the commercialisation of our technology. It is another step toward profitability and growing shareholder value.”
This announcement has been authorised by the Board of YPB Group Limited.
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For further information please contact:
YPB Investor enquiries Ben Jarvis [email protected] 0413 150 448 [email protected] Six Degrees Investor Relations
YPB Group Limited Suite 1, 295 Rokeby Road Subiaco, Western Australia 6008, AUSTRALIA
ypbsystems.com
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About YPB Group
YPB Group Limited (ASX:YPB) is an Australia-based product authentication and consumer engagement solutions provider. YPB's proprietary smartphone enabled technology suite allows consumers to confirm product authenticity and, for brands, that triggers consumers’ engagement.
The combination of YPB’s smartphone authentication solutions and its SaaS Connect platform, creates ‘smart’ product packaging, opening cost-effective, digital and direct marketing channels between brands and their consumers. Connect gathers actionable data on consumer preferences. It can then host tailored marketing campaigns directly back to the scanning smartphone.
YPB is currently focused on the rapidly growing Australian, South East Asian, and Chinese markets. Its focus is dairy, cannabis, alcohol and cosmetics where the viral growth of fake products, particularly in Asia, affects brand value and endangers consumers. To learn more please visit: ypbsystems.com
YPB Group Limited Suite 1, 295 Rokeby Road Subiaco, Western Australia 6008, AUSTRALIA
ypbsystems.com