BRISBANE, AUSTRALIA, 01 May 2023: AnteoTech Ltd (ASX: ADO) (AnteoTech or the Company) a revenue stage company, providing solutions for the clean energy and life sciences markets using proprietary particle surface chemistry, announces changes to the Company’s leadership team.
Tim Pritchard has resigned as Company Secretary and Chief Financial Officer to pursue opportunities outside of the Company, effective 27 May 2023. The Company has commenced an executive search for a new Chief Financial Officer with experience leading the finance function of a rapidly expanding, revenue stage technology business in international markets.
In the interim, the Company is pleased to announce the appointment of Mr Tom Milicevic as acting Chief Financial Officer and Company Secretary. Mr Milicevic GAICD is a Fellow CPA and has over 20 years’ experience acting in a number of senior financial roles within technology and life sciences companies including several listed on the ASX. Mr Milicevic has been engaged on a contract basis from 1 May 2023 to ensure an orderly transition until an appointment of CFO has been made.
Dr Charlie Huang, has resigned to pursue alternative opportunities, effective 01 May 2023. Dr Huang, the Company’s Chief Innovation Officer, has been a member of the AnteoTech leadership team for the last ten years,
As the Company is transitioning from an R&D led business to one focused upon development of customer driven solutions, the role of Chief Innovation Officer has been absorbed into the Life Science and Clean Energy Technology divisions. The functions of new product identification will continue to be the responsibility for Ms Friederike Graser. Further changes have been undertaken to focus the Company’s resources on the rapidly developing business opportunities within the Clean Energy Technology team. These changes will result in excess of $0.5 million of savings that can be allocated to opportunities that drive shareholder value in the short term.
David Radford, Managing Director of AnteoTech commented “as advised in the Strategic update in February, the Company is moving to a commercially focused entity, and these changes in personnel will enable the Company to bring in additional skills that are aligned to this vision of profitable international growth”.
The Company thanks Mr Pritchard and Dr Huang for their support and contribution to the Company and wishes them continued success for their future careers.
This announcement has been authorised for release by David Radford, Managing Director & Chief Executive Officer.
- ENDS –
Media and investor inquiries: Friederike Graser, on +61 7 3219 0085 or [email protected] Company and Partnering enquiries: David Radford, CEO, on + 61 7 3219 0085
For further information, please check our website www.anteotech.com
AnteoTech Ltd, ABN 75 070 028 625 Unit 4, 26 Brandl St, Eight Mile Plains, QLD 4113 Australia Page 1 of 2
About AnteoTech - AnteoTech Ltd (ASX:ADO)
AnteoTech is a revenue stage particle surface chemistry company leveraging our proprietary nano polymer technology to solve global industry problems for our customers in the clean energy and life sciences sectors.
In the rapidly growing clean energy market, our lead product AnteoX, has been proven to provide significant improvement in anode performance and the Company has partnered with global suppliers to the lithium-ion battery manufacturing, with first revenues targeted for late 2023 from our Brisbane based commercial plant. The portfolio includes a proprietary micro silicon anode in late-stage development, made with unrefined silicon which offers advantages of size, weight and cost.
The life sciences division services the point of care and diagnostics markets from global diagnostics companies to technology developers. The unique characteristics of AnteoBindTM provides strong advantages in bioconjugation to rapidly speed up testing procedures and improve accuracy.
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Forward Looking Statements
This Announcement may contain forward-looking statements, including estimates, projections and other forward-looking information (Estimates and Projections). Forward-looking statements can generally be identified by the use of forward-looking words such as “expect”, “anticipate”, “likely”, “intend”, “should”, “could”, “may”, “predict”, “plan”, “propose”, “will”, “believe”, “forecast”, “estimate”, “target”, “outlook”, “guidance” and other similar expressions within the meaning of securities laws of applicable jurisdictions and include, but are not limited to, indications of, or guidance or outlook on, future earnings or financial position or performance of AnteoTech. The Estimates and Projections are based on information available to AnteoTech as at the date of the Announcement, are based upon management’s current expectations, estimates, projections, assumptions and beliefs in regards to future events in respect to AnteoTech’ business and the industry in which it operates which may in time prove to be false, inaccurate or incorrect. The Estimates and Projections are provided as a general guide and should not be relied upon as an indication or guarantee of future performance. The bases for these statements are subject to risk and uncertainties that might be out of control of AnteoTech and may cause actual results to differ from the Announcement. No representation, warranty, or guarantee, whether express or implied, is made or given by AnteoTech in relation to any Estimates and Projections, the accuracy, reliability, or reasonableness of the assumptions on which the Estimates and Projections are based, or the process of formulating any Estimates and Projections, including that any Estimates and Projections contained in this Announcement will be achieved. AnteoTech
ADO Price at posting:
3.3¢ Sentiment: Hold Disclosure: Not Held
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