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Powerhouse completes important pre IPO step

Fuseworks Media
Fuseworks Media

Powerhouse Ventures Limited - the leading IP commercialisation company - has completed an important step in the preparation for its ASX IPO with the appointment of an Australian resident director Paul Viney to the Board as Executive Director. Mr Viney is currently Powerhouse’s Chief Financial Officer and Company Secretary.

Kerry McDonald, Chairman Powerhouse Ventures, said: "Mr Viney is a career finance and governance professional, with more than 25 years’ experience working in Australian industrial and financial services organisations. He specialises in financial and management accounting, value creation, mergers and acquisitions and corporate governance. He has been with Powerhouse for two years and in that time has been instrumental in readying the company for its planned listing."

Before joining Powerhouse Ventures, Mr Viney was Chief Financial Officer / Company Secretary at diversified ASX listed banking group MyState Limited, which had a market capitalisation of AUD400 million and an asset footprint of around AUD5.3 billion.

"His appointment strengthens the Board and complies with the ASX requirement for an Australian resident director. We are pleased to welcome Paul to the Board.

"Powerhouse is preparing to list on the ASX later this year. His experience will greatly benefit the Company as we approach the IPO and beyond as we execute our growth strategy as a listed company and develop brilliant research from Australasia’s universities into world changing business," said Mr McDonald.

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