Here are my supplementary questions for the 8 October...

Here are my supplementary questions for the 8 October webinar.
I've already submitted them by email.

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Dr Paul MacLeman
Executive Chairman
Island Pharmaceuticals Ltd
[email protected]

Copy: Jane Lowe
IR Department
[email protected]

Dear Paul

I have some additional questions about corporate governance.

1. It has been mentioned today on social media that the self-selected external participants in the placement made it a condition of their offer that there be no share purchase plan (SPP) offered to retail investors. Could you please confirm or deny whether this happened.
If it did happen, why was this fact not disclosed in the placement announcement, and why did the Board agree to this condition? In what sense was it in the best interest of all shareholders?

2. Did the Board consider any of the following options:

* a SPP underwritten by the self-selected external participants, either for an underwriting fee or for no fee

* a non-underwritten SPP, with the Board retaining flexibility to place any shortfall at their discretion?

If the Board considered those options, why did it reject them?
If the Board didn't consider those options, why not?

3. Why does the Board consider it appropriate that any Director participate in an offer from which all investors other than a self-selected small minority have been excluded?

4. Will any Directors who have announced their participation be reconsidering their proposed actions?


Yours sincerely

IndexInvestor
Retail shareholder