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INVION LIMITED — Board/Management Information 2021
Jul 8, 2021
65148_rns_2021-07-08_08618014-5062-403d-9478-b07c6c7204c6.pdf
Board/Management Information
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ASX ANNOUNCEMENT
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CEO CONTRACT
MELBOURNE (AUSTRALIA) 9 JULY 2021 : Invion Limited (ASX: IVX) ( Invion or the Company ) is pleased to announce that it has entered into the following employment agreement with CEO, Thian Chew.
| Position | Chair and CEO |
|---|---|
| Effective Date | 1 November 2020_(being the date of commencement of CEO role)_ |
| CEO Base Salary | AUD$309,000 per annum (including superannuation if applicable) |
| Chair Base Salary | AUD$90,000 per annum (including superannuation if applicable) |
| Short Term Incentive | Annual incentive of a maximum of 50% of CEO Base Salary based on set annual targets. |
| Long Term Incentive (subject to shareholder approval) |
Equal to 2.5% equity in the form of premium priced options. The options will have a nil issue price. The exercise price will be $0.017. Options will vest on the following dates and in the following proportions, subject to the rules relating to forfeiture in the Employee Option Plan: On grant date: (25% of Options vest) 1 November 2021: (25% of Options vest) 1 November 2022: (25% of Options vest) 1 November 2023: (25% of Options vest) The Options expire 4years after thegrant date. |
| Term of Contract | Ongoing |
| Termination with notice | 6 months’ notice by each party |
Investor and Media enquiries: Thian Chew (Chairman & CEO) T: +61 3 8618 6843
Brendon Lau (Investor & Media Relations) M: +61 409 341 613
Invion Limited ABN 76 094 730 417
100 Albert Road, South Melbourne, VIC 3205
P: +61 3 9692 7222 W: www.inviongroup.com
About Invion
Invion is a life-science company that is leading the global research and development of Photosoft™ technology for the treatment of a range of cancers. Invion holds the Australia and New Zealand license rights to the Photosoft™ technology. Research and clinical trials are funded by the technology licensor, RMW Cho Group Limited and its affiliates, via an R&D services agreement with the Company. Invion is listed on the ASX (ASX: IVX). This announcement was approved for release by the Board of Directors. For further information please contact [email protected]).
About Photodynamic Therapy (PDT)
Invion is developing Photosoft™ technology as an improved next generation Photodynamic Therapy. PDT uses non-toxic photosensitisers and visible light in combination with oxygen to produce cytotoxic-reactive oxygen that kills malignant cells, shuts down tumours and stimulates the immune system. A potential alternative to surgery, and in contrast to radiotherapy and chemotherapy which are mostly immunosuppressive, PDT causes acute inflammation, expression of heat-shock proteins, and invasion and infiltration of a tumour by leukocytes.
Invion Limited ABN 76 094 730 417
100 Albert Road, South Melbourne, VIC 3205 P: +61 3 9692 7222 W: www.inviongroup.com