Key points
- Mr. Bruce has left as Managing Director effective 4 September 2026
- The Board believes this change is in the Company's best interest
- Mr. Bruce will receive his accrued entitlements and unvested performance rights will lapse
Full summary
Black Cat Syndicate Limited ('Black Cat' or the 'Company') has announced the departure of Mr. Bruce as Managing Director, effective as of 4 September 2026. The Board considers this change in leadership to be in the best interests of the Company at this time. Mr. Bruce will receive his accrued entitlements and payment in lieu of his 6-month notice period in accordance with his employment contract. Additionally, Mr. Bruce will retain 51,724 Performance Rights issued to his nominee, which have vested and remain exercisable. Unvested performance rights will lapse. The current executive team continues to manage operations, and further Board changes will be announced separately.
Outlook
The Company expects the current executive team to continue managing operations effectively.