Urbanise Senior Management Changes

Posted on January 31, 2017

Urbanise.com Limited (Urbanise) (ASX:UBN) today announces changes to its senior management team to support the Company’s next stage of growth.

Benjamin Churchill

Current CEO, Ben Churchill, will step down from his role as CEO, with immediate effect and will assume a new, part time, role as Chief Evangelist and Advisory Board member and will assist Urbanise to pursue strategic opportunities. Mr. Churchill will remain on the Board of Directors for a transitional period.

On behalf of the Board, Urbanise Chairman, Tony Scotton thanked Mr. Churchill for his tenure as the Company’s CEO and for leading the organisation though its successful IPO, early stage global commercialisation phase and for his commitment and tenacity during some challenging periods.

Anthony Scotton

Current chairman Tony Scotton will assume the role of Interim CEO. The terms of his remuneration are included in Appendix A.

The Board is in an active recruitment process to identify and recruit a replacement CEO and will inform shareholders once the terms of that appointment has been finalised.

Tony has extensive experience in the service, manufacturing and distribution industries and recently served as Executive Chairman of Onthehouse Holdings Limited, a real estate technology company that was recently taken over by a consortium led by Macquarie Bank.

Tony also Chairs the Board of Precise Air Group Pty Ltd, a privately held transnational services and installation business. From 2007 to 2014 he held the position of Chief Executive Officer and Executive Director of SAI Global Limited (ASX:SAI) and prior to this he served as the Managing Director and Chairman of the Construction Products Division of Pacifica Group.

Michael Waymark

Current Chief Operating Officer, Mike Waymark, will step down from his position with the Company effective 28 February 2017.

On behalf of the Board, Urbanise Chairman, Tony Scotton thanked Mr. Waymark for his tenure as the Company’s COO and for recently leading organisational and fiscal improvements, strengthening systems and processes and positioning Urbanise for growth.

About Urbanise

Urbanise is the creator of a cloud-based platform for delivering building services. Designed for service providers, the Urbanise Industry Cloud software-as-a-service platform is transforming the traditional engineering approach to building operations – improving customer service, removing operational costs and enabling new revenue streams. Urbanise technology is used in some of the tallest towers and most prestigious communities around the globe. www.urbanise.com

For more information, contact Tony Scotton +61 419 527 592

 

Appendix A

Summary of the Key Terms of the Service Agreement between Urbanise.com Limited and Mr Anthony Scotton

1. Commencement Date

URBANISE will employ Mr Scotton in the interim position of Chief Executive Officer.

Mr Scotton will remain a Director and Chairman of the Board of Directors of URBANISE and other URBANISE Group companies.

Mr Scotton’s employment as CEO will commence on 1 February 2017.

2. Term

Mr Scotton will be appointed for an ongoing term subject to termination by either party (see section 4 below).

3. Remuneration

  1. (a)  Fixed Remuneration: Mr Scotton will be entitled to a salary of $16,000 (exclusive of superannuation) per month. This remuneration is inclusive of his directors fees.
  2. (b)  Equity: Subject to any required approvals (including shareholder approval) that URBANISE believe necessary, Mr. Scotton will be offered 300,000 options under the Employee Benefits Plan. The options will be exercisable at any time within three years of the grant date and have an exercise price of $0.225 per share acquired. In the event that shareholders do not approve the issue of options the Board will consider alternative remuneration adjustments.

4. Termination

Urbanise may terminate Mr Scotton’s employment at any time on two weeks’ notice or payment in lieu of notice.

Mr Scotton may terminate his employment with Urbanise at any time two weeks’ notice or, at Urbanise’s election, payment in lieu of notice.

Mr Scotton’s employment may also be terminated by Urbanise in circumstances of his misconduct, illness or poor performance.