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Northern New South Wales Gas Company to List On ACN 165 522 887 ASX CODE: IBY ASX ANNOUNCEMENT 13 August 2014 IBUY GROUP COO, KRIS MARSZALEK PROMOTED TO CEO August 13, 2014 – Leading Asian e-Commerce company, iBuy Group Ltd (ASX: IBY), today announced that Krzysztof Marszalek (“Kris”), has been promoted from the Company’s Chief Operating Officer to Chief Executive Officer. Kris will replace outgoing CEO, Patrick Linden, who will leave the company to pursue new opportunities. “As the business expands in complexity and enters a new phase of growth, Kris’s tremendous experience, entrepreneurial energy, passion and drive, make him the perfect candidate to lead iBuy through a period of transformation and consolidation. His contribution whilst COO of the Company made it abundantly clear to the Board that he is the best person to head up the business. We thank Patrick Linden for his excellent service and work in bringing the companies together. We look forward to the next phase of the business under Kris’s guidance and are excited he has chosen to take leadership of the company as it moves to the next level,” said Patrick Grove, Chairman of iBuy Group. Kris said, “The iBuy businesses have extraordinary potential and I am more than excited to be charged with driving the business now and in the future. Our markets offer a once in a lifetime possibility to create an incredible e-Commerce business and I am ready to lead this team to execute on all the opportunities ahead of us. " Prior to co-founding iBuy Group in 2013, Kris has had an outstanding record of achievement as an entrepreneur. He founded the Company’s Hong Kong business, For further information contact: iBuy Group Limited Level 3, 70 Pitt Street, Sydney NSW 2000 Nick Geddes, Company Secretary Tel: +61 29239 0277 Fax: +61 29235 2709 Email: [email protected] Beecrazy.com, and served as the Company’s COO, before which he founded and subsequently sold YiYi Hong Kong, a location based mobile application that was acquired by Motorola in 2010. Prior to YiYi, Kris founded Hong Kong and China based consumer electronics manufacturer, Starline. Kris’s expertise lies in the field of fast growing, entrepreneurial companies, with a strong focus on strategic execution of business plans targeting online consumers. #### Key terms of Chief Executive Officer’s Contract Commencement Date Effective as from 13 August 2014. Term Continuing, unless terminated by the company or Mr. Marszalek on 6 months’ notice or by the company for cause. Fixed Remuneration US$300,000 (inclusive of superannuation). Short Term Incentive (STI) In the first year, a STI of A$150,000 will be payable in cash if certain performance hurdles are achieved. The performance hurdles will include financial targets and personal goals as determined by the Board. Long Term Incentive (LTI) In each calendar year up to and including 2017, an LTI in the form of performance rights valued at A$150,000 will be granted pursuant to the Company’s Performance Rights Plan if certain performance hurdles are achieved. The performance hurdles will include financial targets and personal goals as determined by the Board. The performance rights will vest in March two years subsequent to the relevant calendar year, so long as the executive remains employed by the Company at the time of vesting. ---END— For more information please contact: Luke Elliott Nick Geddes Director Company Secretary iBuy Group Ltd iBuy Group Ltd Phone: +603 2297 0841 Phone: +612-92390277 Email : [email protected] Email: [email protected] About iBuy Group Limited (www.ibuy-group.com) Listed on the Australian Securities Exchange, iBuy Group Limited (ASX:IBY) owns and operates a network of leading e-commerce websites. Headquartered in Singapore with operations in Singapore, Malaysia, Hong Kong, Thailand, Philippines and Indonesia, iBuy Group sells discounted branded consumer products online and connects over 138 million consumers to retailers by providing ‘best price’ volume discounts on a wide variety of goods. iBuy Group’s vision is to create ASEAN’s leading e-commerce retailer. .
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