REG - Wellnex Life Limited - Resignation of Joint CEO

Wellnex LifeAnnouncement

15/08/2025 08:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250815:nRSO5056Va&default-theme=true

RNS Number : 5056V  Wellnex Life Limited  15 August 2025

 

 

 

ASX/AIM
Announcement
15 August 2025

 

Wellnex Life Limited (ASX/AIM:WNX)

 

Resignation of Joint CEO

 

 

Wellnex Life Limited ("Wellnex" or the "Company") (ASX:WNX  AIM:WNX) advises
that the Company's joint Chief Executive Officer & Managing Director, Mr
George Karafotias has resigned from the Company as CEO and director of the
Company.

 

Mr Karafotias has a three-month notice period, and he has agreed to provide
appropriate handovers during that period to ensure a smooth transition but
will step down immediately as a director.

 

The Company's joint CEO & MD Mr Zack Bozinovski will remain and assume the
role of sole CEO & MD.  There are no changes to Mr Bozinovski's current
employment terms including remuneration.

 

Acting Non-Executive Chair Mr Andrew Vidler commented, "on behalf of the
Board, I would like to thank George for his contributions to the Company since
July 2021. George has provided valuable support and efforts on various
corporate transactions the Company has undertaken. We wish him the very best
for his future endeavors."

 

Pursuant to a loan agreement between the Company and George Karafotias, Mr
Karafotias provided a director loan of $705,000 to the Company and Wellnex has
agreed to repay George the full principal amount plus accrued interest within
90 days of his resignation.

 

This ASX/AIM announcement has been authorised by the Board of Wellnex Life
Limited (ASX/AIM:WNX).

 

For further information, please contact:

 

Wellnex Life Limited (ASX:WNX)
                                 Reach Markets

Zack
Bozinovski
                        T: 1300 805 795

Chief Executive Officer & Managing
Director                  E: IR@reachmarkets.com.au
(mailto:IR@reachmarkets.com.au)

P: +61 3 8399 9419

E: zack.b@wellnexlife.com.au (mailto:zack.b@wellnexlife.com.au)

 

UK Investors

 

Strand Hanson (Financial & Nominated Advisor)

James Harris / Richard Johnson / Robert Collins             Tel:
+44 (0) 20 7409 3494

 

Orana Corporate LLP (Joint
Broker)
swykeham@oranacorp.com (mailto:swykeham@oranacorp.com)

Sebastian Wykeham

 

S.P. Angel Corporate Finance LLP (Joint Broker)            Tel: +44
(0)20 3470 0470

David Hignell / Vadim Alexandre

 

About Wellnex Life

Wellnex Life Limited (ASX/AIM:WNX) is a consumer healthcare business with a
track record for developing, licensing, and marketing registered products and
brands to customers in the growing healthcare market segment. Since listing on
ASX in 2021, Wellnex Life has successfully launched a host of brands and
products now ranged in major retailers in the healthcare market space,
pharmacies and supermarkets. Its distribution arrangements have seen Wellnex
Life secure significant licensing arrangements with major pharmaceutical
companies in Australia and globally that have given the Company's registered
products a distribution channel with a steadily increasing global geographic
footprint.

In December 2023, Wellnex Life acquired leading Australian topical pain relief
brand Pain Away. Its addition to Wellnex Life's product offering both
compliments and accelerates the potential growth of the company's business
operations. This transformational acquisition gives added impetus to Wellnex
Life's financial growth and scale and reinforces its place as a major and
respected participant in the growing healthcare market, both in Australia and
overseas.

 

To learn more, please visit: www.Wellnex Lifelife.com.au/
(https://wellnexlife.com.au/)

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAFIFSRTTIELIE