Simavita Limited
TSX VENTURE : SV
ASX : SVA

Simavita Limited

September 12, 2014 12:26 ET

Simavita Limited: Resignation of Chairman

SYDNEY, AUSTRALIA--(Marketwired - Sept. 12, 2014) - Simavita Limited (ASX:SVA) (TSX VENTURE:SV) ("Simavita" or the "Company") announces the decision of the Company's Chairman, Mr. Peter Cook, to resign as a Director of Simavita, with immediate effect.

Mr. Cook was appointed as a Director of the Company on November 20, 2013 at the time of the acquisition of the Simavita business. He was subsequently appointed as the Company's Chairman on January 31, 2014.

The Board would like to thank Mr. Cook for his valuable contribution as Chairman through the important phase of the Company's transition to a public company.

The Board will be seeking to appoint a suitable replacement to fill the vacancy created by Mr. Cook's departure as part of a process of recruitment of additional non-executive directors to the Board. Until such time as this appointment/s has been made, Mr. Ari Bergman has agreed to act as acting Chairman of the Board.

An ASX Appendix 3Z in respect of Mr. Cook is attached to this announcement.

For further information, please visit our website (www.simavita.com).

About Simavita

Simavita is a medical device company that has developed an innovative, world first solution for the management of urinary incontinence, with a focus on the elderly. The first product is the SIM™ platform technology which is an instrumented incontinence assessment application that provides evidence-based incontinence management care plans to the residential aged care market.

About SIM

SIM™ is a wireless sensor technology that delivers evidence-based instrument incontinence data on individuals. SIM™ provides user friendly tools and software to assess the incontinence condition and to help plan better outcomes. SIM™ is used to detect, record and report incontinence events during a compulsory or recommended assessment period in residential aged care facilities to develop an evidence-based incontinence care plan.

Conducting assessments is mandatory in many countries and the incontinence assessment creates an influential element of care of each individual. For more information on Simavita or SIM™, please visit www.simavita.com.

The TSX Venture Exchange has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.

Forward-Looking Information

This document may contain "forward-looking information" within the meaning of Canadian securities laws ("forward- looking information"). This forward-looking information is given as of the date of this document.

Forward-looking information relates to future events or future performance and reflects Simavita management's expectations or beliefs regarding future events. Assumptions upon which such forward-looking information is based include that Simavita will be able to successfully execute on its business plans. Many of these assumptions are based on factors and events that are not within the control of Simavita and there is no assurance they will prove to be correct.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "potential", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or information that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Simavita to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to actual results of current business activities; changes in business plans and strategy as plans continue to be refined; other risks of the medical devices and technology industry; delays in obtaining governmental approvals or financing or in the completion of development activities; as well as those factors detailed from time to time in Simavita's interim and annual financial statements and management's discussion and analysis of those statements. Although Simavita has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Simavita provides no assurance that forward- looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

Appendix 3Z

Final Director's Interest Notice

Rule 3.19A.3

Appendix 3Z

Final Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity Simavita Limited
ARBN 165 831 309

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director Peter Chapman Cook
Date of last notice 1 August 2014
Date that director ceased to be director 12 September 2014

Part 1 - Director's relevant interests in securities of which the director is the registered holder
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Number & class of securities
None

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest Number & class of securities
Note: Provide details of the circumstances giving rise to the relevant interest
Controlling interest in Lloyds Wharf Pty. Ltd. 231,112

+ See chapter 19 for defined terms.

Part 3 - Director's interests in contracts

Detail of contract

Nature of interest

Name of registered holder(if issued securities)

No. and class of securities to which interest relates

Dated: 12 September 2014

+ See chapter 19 for defined terms.

Contact Information

  • Simavita Limited
    Philippa Lewis
    Chief Executive Officer
    +61 2 8405 6381

    Simavita Limited
    Tom Howitt
    CFO and Company Secretary
    +61 2 8405 6391
    www.simavita.com

    Buchan Consulting
    Jane Lowe
    Media and Investor Relations
    +61 2 9237 2800
    jlowe@buchanwe.com.au