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SCIDEV LTD — Board/Management Information 2019
Apr 29, 2019
65761_rns_2019-04-29_13fe2eb6-d71e-4dad-83ba-e569f81c7f1d.pdf
Board/Management Information
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Unit 1 8 Turbo Road Kings Park NSW 2148 Australia ABN 25 001 150 849
Phone: +61 408 509 649 Email: [email protected] Website: www.scidev.com.au ASX code: SDV
Companies Announcements Office Australian Stock Exchange
30 April 2019
Lewis Utting appointed Managing Director and Chief Executive Officer of SciDev
SciDev Ltd (the Company) is pleased to announce that Lewis Utting has commenced as its Managing Director and Chief Executive Officer.
Mr Utting joined SciDev in March 2018 following more than 15 years in the sector, mostly with BASF. He has been integral to the creation of the new-look customer-facing team, as well as the company's North American activities, the successful Nuoer transaction announced in early 2019, and its recent $2.5 million capital raising project.
The new SciDev team will combine peerless technical capability with SciDev's Optiflox® technology and in-house chemistry, and will be supported by world-class manufacturing services offered by Nuoer. Mr Utting is confident that the team has the necessary ingredients and client focus to firmly secure SciDev's place at the forefront of the industry.
In accordance with ASX Listing Rules, details of Mr Utting's remuneration arrangements are set out in Schedule 1. Mr Utting is already an Executive Director of the Company and, accordingly, no Appendix 3X Notice is required.
On behalf of SciDev Ltd
Heath Roberts Company Secretary
| Name | Lewis Utting |
|---|---|
| Role | Managing Director and CEO |
| Role description | Standard for a senior role of this nature |
| Salary | Base salary – $280,000 per annum |
| Superannuation – Statutory | |
| Annual leave – Statutory | |
| Sick leave – Statutory | |
| Allowance(s) | Car allowance equivalent to $30,000 per annum |
| Performance bonus | Subject to milestones, a bonus of $100,000 and 2,500,000options* with $0.10 exercise price and three (3) year term*subject to shareholder approval |
| Review | Salary, allowance(s) and performance bonus to be reviewedannually |
| Termination | 6 months' notice on either side. 6 months payout in the event oftermination by the Company without cause. |
| Confidentiality | Standard |
| Restraint | Standard restraints apply |