Spacetalk limited announced that the Board has terminated the employment contract of Mark Fortunatow, Chief Executive Officer, with 12 months' notice. Mr. Fortunatow will be available to assist the company but will serve out his 12-month notice period out of the office. The Board will shortly commence executive search activity for a new Chief Executive Officer.

In the interim, Spacetalk Non-Executive Director, Mr. Saurabh Jain, has assumed the role of Acting Chief Executive Officer. In accordance with ASX Listing Rule 3.16.4 the terms of Mr. Jain's appointment are appended. Mr. Jain brings over 25 years of experience in technology-related roles both from a technical and commercialization perspective.

After more than 5 years in Sydney and New York as a solutions director for Converga, Mr. Jain joined Cushman and Wakefield in 2013 as the Chief Information Officer for Australia and New Zealand, and later as Global Technology Director for Strategic Solutions. More recently Mr. Jain was the CEO of Urbanise where he lead a turnaround with over 3X revenue growth and an almost 5X increase in market capitalization.