22 December 2015

Appointment of new Managing Director & CEO

The Board of Geodynamics wishes to advise that a succession plan for the role of CEO and Managing Director has been implemented.

Following an internal and external candidate review process, the Board is delighted to announce that Mr. Christopher Murray has been appointed Managing Director & Chief Executive Officer of Geodynamics. Mr Murray will commence his role from 11 January 2016.

Mr Murray is an experienced executive and business leader in the area of renewable energy having previously been Chief Executive Officer, Solar Systems Pty Ltd and Executive General Manager, Australia for Energy Developments Limited. Qualified as a Bachelor of Engineering (Mechanical) (Honours) from UNSW and the Harvard Business School, Advanced Management Program, he brings over 25 years experience in the power industry and development of small and medium scale renewable and remote power projects.

Under this succession plan, current Managing Director and CEO, Mr Geoff Ward, will leave Geodynamics on 31 January 2016 following a handover period to the new CEO.

The Board wishes to express its appreciation to Mr Ward for his contribution to the Company over the past 5 years. Mr Keith Spence, the Chairman of Geodynamics, said "Under Geoff's leadership Geodynamics has successfully completed Hananero-4, its most productive geothermal well, in the Cooper Basin project, as well as commissioning and operating the 1 MWe Habanero Pilot Plant, a world leading example of Enhanced Geothermal System power. After our strategic review identifying the need to diversify away from geothermal, Geoff has successfully transformed Geodynamics into a diversified clean-tech company, with a portfolio of projects in the biogas sector through

the acquisition of Quantum Power Limited, while maintaining a strong balance sheet and building a very capable organisation."

"The Board is pleased to welcome Chris Murray to Geodynamics. It is a very exciting time in the evolution of the company. We have an attractive portfolio of opportunities in front of us and a positive outlook for our sector. Under Chris' leadership, Geodynamics is well positioned to take advantage of these conditions with a strong team and sound finances. We are delighted that an executive of Chris' calibre and capability is keen to lead Geodynamics."

For further information, please check our website (www.geodynamics.com.au) or contact Mr Geoff Ward on + 61 7 3721 7500. Media and investor inquiries may also be directed to Friederike Graser, on +61 7 3721 7588.

Geoff Ward Managing Director and Chief Executive Officer

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Geodynamics Limited issued this content on 2015-12-22 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-22 01:26:15 UTC

Original Document: http://www.geodynamics.com.au/getattachment/59ecb360-105d-4d6b-8fd9-eb23ea2bf41a/Appointment-of-new-Managing-Director-CEO.aspx