Ann: Chairman's Address to Shareholders , page-7

Thanks GoNuke
I was a holder then and I recall my shares being made worthless.

I have acquired many more over the last 12 months or so based on the Chairman's statements and the strength of the existing Board.

This Board did not put IMI and its shareholders in the financial position it has found itself in. I'd look to the previous Board for that.

But I think IMI will be trading into the future, under a new name, new Board, new restructure and new funding. This time I hope they make shareholders a small fortune.

IMI is like many stocks on the ASX - many are lucky to be alive but I admire their efforts to stay afloat in an economic climate that remains unlike not many others.

I have rebuilt a decent investment in the company so, unlike yourself, I want them to remain alive and prosperous into the future.

I expect the Chairman to report the company's new direction to the market shortly (although he's promised that before and not delivered) and that I believe will fire the stock price many times over. Hope you're in for the ride.