
December 17, 2024
Artificial Intelligence software company RocketBoots Limited (ASX:ROC) (RocketBoots or the Company), is pleased to announce the appointment of Mr Roy McKelvie as Chairman, to guide the company through a period of material scaling. Mr McKelvie will invest $200k in RocketBoots, subject to shareholder approval, and cornerstone a raise for $500k at $0.085 per share (before costs) with other sophisticated investors (Placement).
Highlights
- RocketBoots appoints experienced investor and growth company specialist Roy McKelvie as Chairman
- New Chairman to invest in RocketBoots along with other sophisticated investors in a Placement to raise $500k
- Funds will primarily be used to execute on sales and customer initiatives that will deliver international expansion with a number of enterprise customers
- Further progress has been made with advanced stage customer discussions with several outcomes expected in early CY2025.
Transforming for Growth
Appointment of Mr Roy McKelvie
The Company is pleased to announce the appointment of Mr Roy McKelvie as Independent, Non-Executive Chairman effective today, who will replace Mr Hugh Bradlow. Mr McKelvie’s experience both investing in and leading growth phase businesses will be crucial to RocketBoots as it enters a major scaling phase with large customer contracting decisions approaching.
Mr McKelvie is well placed to provide corporate and public markets support during the Company’s next phase of international expansion, having over 25 years’ experience in private equity and financial markets in the US, UK, continental Europe, Asia and Australia. He has worked and consulted to companies across multiple sectors including financial services, resources, retail, business services and FMCG.
Mr McKelvie is currently Chairman at WageSafe, Pathify Holdings Inc, Infocus Wealth Management and Encompass Corporation. Prior to this, he was CEO of Transfield Holdings (previously ASX listed), MD and CEO of Gresham Private Equity, and MD and Asian Head of Deutsche Bank Capital Partners.
He has a BSc in Production Engineering from the University of Strathclyde and an MBA from the University of Edinburgh Business School.
RocketBoots Board of Directors would like to express their deep gratitude to Mr Bradlow for his services to the Company and as founding Chair. The Board thanks him for his substantial contribution taking RocketBoots to this point as we approach a material growth phase.
Mr McKelvie’s key employment terms are described in Appendix A.
CEO & Board Remuneration update
As a part of the transition for growth, the Company undertook a review of the remuneration package of the current Chief Executive Officer (CEO), Mr Joel Rappolt and the Board. The review focused on how best to align delivery of Company milestones with value to shareholders and reflects that no increases have occurred since IPO in 2021. As a result of the review, the Board confirms that the CEO’s total remuneration package has changed, effective as at 27 December 2024. Mr Rappolt’s new remuneration package is set out in Appendix B and the Board’s, which is subject to shareholder approval, set out in Appendix A.
Click here for the full ASX Release
This article includes content from Rocketboots Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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