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    SHAPE Australia Corporation (ASX:SHA) announces a board change

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    SHAPE Australia Corporation (ASX:SHA) has just announced a change to its board.

    SHAPE Australia Corporation today announces the resignation of Mr Gerard McMahon with effect from 30 September 2022.

    Mr McMahon is resigning following the Company's commitment to refresh and reduce the size of the Board as disclosed in the Company's Prospectus.

    The Company thanks Mr McMahon for his contribution to the Company, including the transition of SHAPE from a private company to its listing on the ASX in December 2021 and his commitment and work in developing our highly constructive organisational culture which has led to SHAPE's outstanding customer service reputation.

    Shares of SHAPE Australia Corporation have stable following the announcement.

    Any change in the make-up of a company?s board can have an impact on a company?s stock price.

    Generally, age-related turnovers and voluntary resignations have a marginal impact on the share price.

    However, when either the Chairman or another board member is ousted, this can have a significant impact on the stock price.

    As the role of the board is to endorse the strategy of the business, changes to the board can have an impact on the strategic direction of the company and therefore it?s future profitability.

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