Echo Resources Limited refers to the off-market takeover bid by Northern Star Resources Limited for all shares in the Company. In accordance with the provisions of the Bid Implementation Agreement dated 26 August 2019 between Echo and Northern Star (BIA), the Independent Non-Executive Directors have tendered their resignation. The departing Non-Executive Directors include Chairman Alistair Cowden and Non-Executive Directors Mark Hanlon and Anthony McIntosh. Nominees of Northern Star, being Ryan Gurner (Northern Star's Chief Financial Officer) and Sarah Curnow (Northern Star's Legal Counsel and Assistant Company Secretary), have been appointed to the Board of Echo. Northern Star's incumbent nominee Non-Executive Director Alan Thom will remain on the board. Further, as provided for in the BIA, the employment of the Managing Director of Echo, Mr. Victor Rajasooriar and Chief Financial Officer, Richard Hill, has been terminated, as has the employment of certain other head
office personnel. Kate Stoney has been made redundant as General Manager Finance and Administration but remains as Echo Company Secretary on an interim basis. Mr. John Zimmerman, Echo's Registered Manager, has been appointed as interim Chief Executive Officer.