Ten Sixty Four (ASX:X64) - Outgoing Managing Director, Paul Ryan Welker
Outgoing Managing Director, Paul Ryan Welker
Source: Ryan Welker/LinkedIn
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Ten Sixty Four (X64) terminates the executive services agreement of former Managing Director Paul Ryan Welker, effective immediately
  • It was noted that Mr Welker did not disclose in writing that he had a direct financial interest in another company that entered a commercial contract with an entity within X64
  • It was also noted he did not obtain written approval from the board to have or keep his interest in that company
  • Mr Welker handed in his six months’ notice of his resignation on June 30 following his appointment to CEO in early March
  • X64 ends the day 3.08 per cent in the red with shares trading at 63 cents

Ten Sixty Four (X64) has terminated the executive services agreement of former Managing Director Paul Ryan Welker, effective immediately.

It was noted that Mr Welker did not disclose in writing that he had a direct financial interest in another company that entered an important commercial contract with an entity within X64.

It was also noted he did not obtain written approval from the board to have or keep his interest in that company.

Until a replacement managing director has been appointed, Executive Chairman Jeffery McGlinn will continue to lead the company.

On June 30, it was announced Mr Welker had given X64 six months’ notice of his resignation, however as per the terminated agreement, Mr Welker will leave the company immediately.

Mr Welker was appointed CEO in early March, back when the company was known as Medusa Mining.

Prior to joining the company, Mr Welker worked for EAS Advisors in New York and held positions at Rio Tinto (RIO), Standard Bank and Hancock Prospecting.

He was appointed as a Non-Executive Director on March 3 following Medusa’s acquisition of Ten Sixty Four.

Mr Welker took over from Andrew Teo, however, no details were given as to why Mr Teo’s contract was terminated.

X64 has ended the day 3.08 per cent in the red with shares trading at 63 cents.

X64 by the numbers
More From The Market Online
The Market Online Video

HotCopper Highlights for Week 14 – Mesoblast, Cettire, Neurizon & more!

Good Afternoon and welcome to this edition of HotCopper Highlights, I’m Jonathon Davidson. Let's get into…
Flag of Spain

Elementos publishes robust DFS for Oropesa tin project

Elementos Ltd has seen its shares rise more than 2% following its release of a definitive…
The Market Online Video

Friday’s HotCopper Trends: Mesoblast dodges tariffs, Orthocell’s FDA tick | April 4, 2025

The ASX has been down 1.5% at 7,739 points this morning.
A logo page that reads Hotcopper Podcast on a stylised market background.

Listen: HotCopper Podcast 001 – HotCopper joins the podcasting game

Welcome to the first HotCopper market-watch podcast! Each week, HotCopper takes you through all the week's…