Ann: 2024 EGM Notice of Meeting, page-72

Your comments on the automation improvements and the importance of securing the right CEO resonate well. Some thought bubbles/things to further consider:

Re CEO

I agree that the choice of CEO is pivotal, and I'm curious if the Board has appointed an independent committee for this critical task. Given the need for global experience, are the qualifications and networks of the current Board adequate to make such an appointment? It seems overdue to recognize the necessity of a CEO, so why has it taken this long to initiate the process? It does feel a bit reactionary when OB was appointed in Dec 2021 on a ST basis. Perhaps they'd have a good candidate by now had they started the process much, much earlier.


Re IVDR

Was there a reason why a parallel commercialization strategy for IVDR wasn't already in place? Again, the go-forward and "strategic review" make it feel very reactionary. Consider when IVDR was initially floated in the overseas, it's not really a new European standard. it was first proposed in 2017 and came into effect as of 26 May 2022. We are in 2024.


Re diminishing the share sale as a mere 17%.

While 17% may not be deemed "substantial," it represents over $6 million – a considerable amount relative to the cost base. Was this intentionally capped at 17%, or was it constrained by the buyer's appetite at that specific off-market price? At any rate, it's more around the timing of the TGA request for information relative to the sale, from an executive judgment perspective, isn't it?