Resignation of Michael Nark
22 January 2020
Sydney - BuildingIQ Inc. (ASX: BIQ), a tech-enabled services business, today announced its long-serving President & CEO, Mr. Michael Nark, has resigned, effective 21 February 2020. At this time, Michael will also step down from his Board commitments but will continue to assist the Company on transition items as schedules permit.
On behalf of the Board, Interim Chair, Will Deane, thanked Michael for his dedicated service to BuildingIQ since his appointment in September 2013. “We are very appreciative of Michael’s efforts and leadership as President & CEO and wish him well in his future endeavours.”
The Board has begun its search for a new CEO with the appropriate skills to continue to grow the overall business and in particular, the significant Greenfield projects opportunities. In the interim, newly appointed director, Mr. Greg Pynt, will take on an additional supervisory role working closely with the senior management team until a new CEO is appointed.
Authorisation: This announcement was authorised by the Board of BuildingIQ, Inc.
For further information contact:
Ph. +61 2 9360 0602
Ph.: +61 414 861 629
BuildingIQ (ASX: BIQ) helps building owners and operators worldwide lower energy use, increase building operations efficiency and enhance tenant comfort. The Company’s 5i cloud-based platform and Managed Services deliver on the promise of Internet of Things (IoT) for buildings. More than 125M square feet of building space is currently under management with BuildingIQ.www.buildingIQ.com
Foreign Ownership Restrictions
BuildingIQ’s CHESS Depositary Interests (CDIs) are issued in reliance on the exemption from registration contained in Regulation S of the US Securities Act of 1933 (Securities Act) for offers or sales which are made outside the US. Accordingly, the CDIs have not been, and will not be, registered under the Securities Act or the laws of any state or other jurisdiction in the US. The holders of BuildingIQ’s CDIs are unable to sell the CDIs into the US or to a US person unless the re-sale of the CDIs is registered under the Securities Act or an exemption is available. To enforce the above transfer restrictions, all CDIs issued bear a ‘FOR US’ designation on the ASX. This designation restricts any CDIs from being sold on ASX to US persons. In addition, hedging transactions with regard to the CDIs may only be conducted in accordance with the Securities Act.