ASX Announcements

The Board of Living Cell Technologies Limited has appointed Chair Professor Bernie Tuch as Interim CEO on terms to be finalised. He will assume the additional role following the retirement of Dr Ken Taylor on Friday 16 July 2021.

Dr Taylor’s retirement means he will also retire from the Board of LCT. He joined LCT as CEO in February 2014 and was appointed to the Board in August 2018, after a prestigious international career in both business and academia.

Professor Tuch says Dr Taylor’s scientific rigour and commercial expertise have been invaluable during his seven years with the company.

“The Board is extremely grateful for Ken’s contribution and leadership during his time with the company. LCT has benefited greatly from his experience and international connections,” says Professor Tuch. “Ken taught fellow Board members the importance of ensuring the projects the company supported were both understandable to shareholders and capable of making a contribution to the welfare of patients.”

The company continues to explore opportunities for new projects and partnerships via a range of confidential discussions. It will make further announcements as soon as it is able, in compliance with the ASX listing rules.

Living Cell Technologies Limited (LCT or the Company) refers to ASX’s price query received earlier today and responds to each question in order, as follows:

1. LCT continues to discuss possible projects that LCT might engage in with several parties. However, no discussions are at a stage where if they had been announced to the market this would explain the recent trading in LCT securities.

2. Not applicable.

3. No, LCT cannot explain the recent trading in its securities.

4. LCT continues to be in compliance with ASX Listing Rules and, in particular Listing Rule 3.1.

5. LCT’s response to the questions above has been authorised and approved under LCT’s continuous disclosure policy.

The board of Living Cell Technologies Limited is working to identify opportunities to reinvigorate the business, evaluating prospects that align with its business strategy.

Through academic, commercial and investment contacts, board members and executives have had a range of confidential discussions about potential new projects and partnerships. The company is not in a position to disclose any further details at present.