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GetSwift Appoints Terrance White to Board as Non-Executive Director

May 2, 2019

NEW YORK--(BUSINESS WIRE)--May 2, 2019--GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), a leading provider of SaaS logistics technology, today announced the appointment of Terrance White to the GetSwift Board of Directors. Mr. White brings over 40 years of experience directing, advising and investing in private and public companies from early-stage tech start-ups to the Fortune 250, with extensive experience in international business development, sales management, and marketing.

“I am excited to join GetSwift’s Board of Directors at this time of significant growth and expansion for the Company. GetSwift has built a world class senior executive team that from a leadership, strategy, product, technology, and operations standpoint that is second to none. Their recent acquisition of two complimentary SaaS platforms and their integration to meet customer needs in the last mile and workforce management demonstrates a unique ability to execute rapidly the lessons their business intelligence data is giving them,” Mr. White said. “I look forward to drawing on my experiences scaling organizations - particularly revenue teams - to help GetSwift scale while growing the top line.”

Bane Hunter, Chief Executive Officer and Executive Director said, “Terry is an outstanding global executive with a wealth of experience particularly in the North American markets. His insight, advice, networks and experience will be most welcome. We are delighted to add such an accomplished director to the Board and to the Company. We look forward to working with him in the boardroom to create long-term shareholder value.”

Mr. White previously served for 30 years in successful leadership roles for NYSE publicly listed Genuine Parts Company (GPC). His last 11 years at Genuine Parts were as President of its Rayloc Division. He was previously GPC’s Vice President of Sales and Executive Vice President of NAPA, one of the world’s best-known brands. Over his career, he has been involved as an advisor, investor and/or board member for several technology firms including NanoLumens, Interpoint Partners, DIS, and Gauge Insights. Engaged in the Atlanta community through numerous memberships and affiliations, he serves on the Board of Trustees of Oglethorpe University and the Children’s Healthcare Research Trust and is an active member of the Atlanta Rotary Club.

Consistent with the Company’s focus on revenues and scaling the business to meet global demand, the Company intends to shortly appoint a new Independent Non-Executive Chair with strong growth and governance experience. Importantly, once all appointments take effect, the Board will continue to have a majority of independent directors.

Annexure: Proposed equity grant

Subject to receiving shareholder approval, GetSwift proposes to issue an aggregate 300,000 options to subscribe for one fully paid ordinary share each in the capital of the Company ( Options ).

These Options are intended to be offered to Mr. White or his associates, consistent with US market practice for emerging growth companies and consistent with the previous options awards made to Non-Executive Directors.

In accordance with commentary in the ASX Corporate Governance Council Principles and Recommendations, these securities issued to non-executive directors will not have performance hurdles. Further, they will not vest if the recipient ceases to be a director of the Company.

The Options will be granted no later than 1 month following shareholder approval, with an exercise price for each Option being the 30-day VWAP for shares in the Company immediately prior to the grant date.

Over 3 years, the Options will vest in equal quarterly installments, but they may only vest if at the time of the applicable vesting the recipient is still a director of the Company. The Options expire 10 years after their issue date.

Adjustments to numbers of options and exercise price are only as permitted under ASX Listing Rules. If the shares resulting from the exercise of the options are issued and not transferred, the Company will immediately apply for quotation of the shares. The Option terms will include acceleration of vesting for change of control or liquidity events. Options are not transferable prior to vesting, other than to estate planning vehicles. At the request of the Option holder and subject to all applicable law, options may be net exercised.

About GetSwift Limited
Technology to Optimise Global Delivery Logistics

GetSwift is a worldwide leader in delivery management automation. From enterprise to hyper-local, businesses across dozens of industries around the globe depend on our SaaS platform to bring visibility, accountability, efficiency and savings to their supply chain and “Last Mile” operations. GetSwift is headquartered in New York City and is listed on the Australian Securities Exchange (ASX:GSW). For further background, please visit GetSwift.co.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190502005982/en/

CONTACT: Media enquiries: John Jannarone:jjannarone@getswift.co

Investor enquiries:investors@getswift.co

Company Secretary: Sophie Karzis:skarzis@getswift.co+61 3 8622 3351

KEYWORD: AUSTRALIA UNITED STATES NORTH AMERICA AUSTRALIA/OCEANIA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY SUPPLY CHAIN MANAGEMENT NETWORKS SOFTWARE TRANSPORT OTHER TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT RETAIL

SOURCE: GetSwift Limited

Copyright Business Wire 2019.

PUB: 05/02/2019 06:50 PM/DISC: 05/02/2019 06:50 PM

http://www.businesswire.com/news/home/20190502005982/en