READCLOUD LIMITED — Board/Management Information 2018

Sep 23, 2018

ASX Announcement 24 September 2018

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ACN 136 815 891 ABN 44 136 815 891

Level 1, 426 Glen Huntly Road, Elsternwick, Victoria, 3185

Appointment of Chief Financial Officer

Issue of shares pursuant to vesting of Performance Shares

The Directors of ReadCloud Limited (“ReadCloud” or “the Company”; ASX: RCL, RCLO) are pleased to announce the appointment of Luke Murphy as Chief Financial Officer.

Luke is a Chartered Accountant and Chartered Company Secretary with over 20 years’ experience advising companies on capital raising, mergers and acquisitions, finance strategy and investor relations, complemented by experience as Chief Financial Officer of rapidly growing technology companies.

Contact:

Phone: +61 3 9692 7222 Email: contact@readcloud.com

Board of Directors:

Paul Collins, Non- Exec Chairman Lars Lindstrom, Managing Director Darren Hunter, Executive Director Guy Mendelson, Non-Exec Director

Company Secretary:

Melanie Leydin

Securities on Issue:

RCL: 87,500,000 ordinary shares RCLO: 15,000,000 options

Website:

https://www.readcloud.com/

Luke commenced his career in chartered accounting with Deloitte (audit) and KPMG Corporate Finance, followed by 16 years as a Director of Equity Capital Markets at one of Australia’s largest independent stockbroking firms, where he advised a small cap client base on ASX-listings, secondary market raisings, investor relations and public company takeovers. More recently, Luke was Chief Financial Officer of leading B2B software-as-a-service business thedocyard and Interim Chief Financial Officer of a fintech business facilitating over 5,000 customer transactions per month.

The Directors also advise that in accordance with the terms of the Class B Performance Rights that were disclosed in section 10.7 of the Company’s Initial Public Offering prospectus, ReadCloud has issued 1,875,000 fully paid ordinary shares in the Company to key management after reporting audited revenue for FY18 in excess of $2 million (being the vesting condition for these Performance Rights). The shares issued will be subject to escrow until 6 February 2020.

-Ends-

CONTACTS:

Investors & Media:

Luke Murphy, Chief Financial Officer +61 409 933 924

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ReadCloud Limited

About ReadCloud Limited (“ReadCloud”)

ReadCloud is a leading provider of software solutions, including eBooks, to schools within Australia. ReadCloud’s proprietary eBook reader delivers digital content to students and teachers with extensive functionality, including the ability to make commentary in, and import third party content into eBooks.

Students and teachers can share notes, questions, videos and weblinks directly inside the eBooks turning the eBook into a place for discussion, collaboration and social learning, substantially improving learning outcomes. ReadCloud sources content for its solutions from multiple publishers so that together with its reseller Channel Partners, ReadCloud is able to deliver the Australian school curriculum in digital form in all States, on one platform.

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