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Outcomes of a Strategic Review

Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company’) is pleased to announce the following outcomes of the Strategic Review process (ASX: 28 February 2024).

Highlights:

Strategic Review reveals four primary objectives

1. Continue to divest non-core assets

2. Streamline business with focus on AI and Cyber Security

3. Target business development activity towards SME market in the defence industry supply chain

4. Optimise the Company Structure

Significant cost reduction initiatives to continueBoard and Management changesSandton Capital Advisory has been appointed to advise and assist the Board on the Strategic Review outcomes

Board and Management Update

Mr Justin Thomas has resigned from his executive role effective 9 July 2024. Mr Thomas will remain on the Board in a Non-Executive Director capacity and will receive an annual salary of $36,000 plus superannuation.

Mr Liam Gale has resigned from his position as Chief Information Officer effective 31 July 2024, with his current duties absorbed into the existing management team.

Mr Shane Wee said: “On behalf of the Board I would like to acknowledge both Justin and Liam’s significant contribution to the Company. The Board has greatly benefited from their experience and leadership. We extend our sincere thanks to Justin and Liam and wish them well in all their future endeavours.”

Mr Jesper Sentow was appointed interim Chief Financial Officer on 16 June 2023 and has since become an invaluable member of the team. Mr Sentow has agreed to become a permanent part- time Chief Financial Officer effective immediately. Mr Sentow is an experienced finance professional and member of CPA Australia holding an MBA from Macquarie University. With a proven history of building high-performance teams and engaging stakeholders, Mr Sentow brings expertise in commercial decision making, strategic planning, risk management, financial management, IT management and business acquisitions. Previous experience includes prominent finance roles at East Asiatic Company, HSE Mining and Cranecorp, spanning multiple industries.

The Board is further assessing the Board, Advisory Board and Management composition, with a focus on increasing AI experience, and will update the market in respect of any additional changes.

Click here for the full ASX Release

This post appeared first on investingnews.com
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