Universal Biosensors Inc. announced that Mr. Paul Wright decision to retire as Chief Executive Officer of the company and to resign from the company's Board of Directors, with effect from March 10, 2016. The Chairman, Mr. Andrew Denver, will assume the role of Executive Chairman and interim Chief Executive Officer. Mr. Denver's employment will commence on 11 March 2016 and there is no fixed term of employment.

Mr. Denver's employment may be terminated by either Mr. Denver or the Company with one months' written notice. The Company may terminate Mr. Denver's employment immediately for cause.