Ann: Notice received under section 249D of the Corporations Act, page-49

I reckon they have the credibility to at least get a hearing from major shareholders. I'd imagine quite a bit of DD could be done on these new director candidates. It is all positive, as if these guys are no good, for whatever reason - they will not get in. But if they are deemed to be superior candidates then they will be supported. The downside appears to be very limited to me. There is only upside. I find it funny (not unexpected through experience) how the market gets fearful of change, when change is the norm anyway.

On the surface they look great to me as a group. I think they will attract some new institutional investors. Some of these candidates have really superb experience in the right places. I suspect the ex NAN CFO would have to be a "take no shit" kind of guy, after 12 years experience.

I think we will see if they market thinks these new candidates are better through the SP. The market will start calculating odds of a board change, and whether it will lead to a better or more attractive business or not. It may even be that some bigger holders have tapped them on the shoulder.

Now I want to give my thoughts on why a successful exec like M Grant wants to join the board of IPD. I'd imagine that he doesn't need the money - I saw he has over $3m worth of NAN stock, and was getting $600k incl incentives in his previous role. He wouldn't be looking at IPD if he thought anything will go wrong. I think it is significant validation of the outlook for IPD that such an experienced exec in the industry has targeted this company. He knows his reputation is on the line as well. So as a sharetrader I am bullish on this as validation of Impedimed's outlook.