IMB Ltd advises that the Deemed Market Value for the Off-Market Buyback of IMB Shares is $4.52. The final Buyback Price will be determined by applying the Buyback Discount of between 8% and 14% to the Deemed Market Value. On this basis, the tender discounts are equivalent to the following tender prices (rounded to the nearest cent):

Tender Discount	Tender Price
14%	$3.89
13%	$3.93
12%	$3.98
11%	$4.02
10%	$4.07
9%	$4.11
8%	$4.16

The Deemed Market Value has been calculated as the volume weighted average price (“VWAP”) of IMB Shares traded on the IMB Market over the 10 days on which Shares traded prior to the announcement of the Buyback on 08 October 2013 adjusted for the movement in the S&P/ASX Small Ordinaries index from the date of the announcement of the Buyback to the Closing Date, being today. The VWAP was $4.50 and the S&P/ASX Small Ordinaries index has increased by 0.5% from 2,164.0 on 8 October 2013 to 2,175.0 on 20 November 2013.

The results of the Buyback, including the actual Buyback Price and any scale back are expected to be announced on Thursday 28 November 2013.

 

Further Information

Further information about the Buyback can be found on IMB’s website at www.imb.com.au or in the Buyback Booklet which was mailed to shareholders. Shareholders may also call the IMB Buyback information line on 1300 585 271 from within Australia or 61 2 4298 0190 from outside Australia between 9:00am and 5:00 Monday to Friday (Sydney time).

 

Published: 20/11/13