ReadCloud Limited provided an update on changes to its senior leadership team. This follows a Board-led review of the Company's strategy and business focus to drive increased growth and profitability. Included in the review was the prioritization of capital and resource allocation, as well as the need for the strong execution of the current plan. With the recent acquisition of Southern Solutions Training Services Pty Ltd. providing potential
growth opportunities in the early childhood education & care sector, together with the increased staff and operational focus required, Mr. Lars Lindstrom has decided to step down from his current role as Chief Executive Officer of the Company effective 16 December 2022. Mr. Lindstrom has agreed a new remuneration package to reflect the change of role and new performance-based incentives. Executive Director and Chief Information Officer, Mr. Darren Hunter has been appointed interim CEO and will be supported by the non-executive directors. There is no change to Mr.
Hunter's remuneration.