Imagion Biosystems Limited announced that Robert Proulx is transitioning from his roles as President and CEO, and will be staying on as Non-Executive Chairman of the Board. This completes the leadership restructuring plan announced on 28 April 2023, which initiated the process to separate the role of the Chair from the role of CEO. To effect his transition to Non-Executive Chairman, the Company and Mr. Proulx by way of mutual consent ceased Mr. Proulx's employment under his previous roles, effective 20 June 2023.

Mr. Proulx is assisting the incoming CEO, Dr Isaac Bright, from 20 June 2023 to 31 July 2023 to allow for a streamlined transition period for the Company. During this handover period (finishing on 31 July 2023), Mr. Proulx will receive a total payment commensurate to 60% of the base salary as specified in his most recent employment agreement (and as outlined in the annexure to this announcement). From 1 August 2023 Mr. Proulx will revert to a Chairman's fee of $63,000 per annum.

Mr. Proulx commenced as Non-Executive Chairman on 20 June 2023. The key terms of his From the period of 20 June 2023 to 31 July 2023, Mr. Proulx will be paid at a rate of 60% of his base annual salary as specified in his most recent employment agreement (which equates to an annualized salary of $192,000 being 60% of $320,000). Mr. Proulx's appointment as Non-Executive Chairman of the Board may be terminated at any me in accordance with the provisions of the Company Constitution or the provisions of any applicable law.

On any termination, no fee will be payable to Mr. Proulx in respect of any unexpired on of the term of his appointment.