Ann: NEW 2022 Annual General Meeting Date, page-33

Well said. The writing is on the wall, these 3 Directors have to go if we are going to have any chance of getting the Company back on track.

Bernie has publicly stated that he didn’t want to be CEO and he’s looking to exit that position. He’s in his 70’s working one day a week for $170,000. He owns $635 of stock after drawing a salary for more than 10 years. That’s insulting for every shareholder and frankly I can’t understand anyone attempting to defend this type of leadership.

Let’s remember Bernie has been getting paid more than $14,000 a month and yet he didn’t put one single dollar into the placement at 0.5 cents. His $635 shareholding tells you that he does not believe in the long term viability of the Company or his ability to create a return for shareholders.

So let’s talk about the new guys, and importantly the group they represent.

I was fortunate enough to buy IHL around 1 cent when these guys first got involved in that company under very similar circumstances as LCT. This group raised all the capital during the last 5 years and importantly put their own capital at risk. They are all still significant shareholders in IHL.

This group has built a $500m biotech from a $5m mouth guard company that was on the verge of going bust. IHL is now dual listed on the NASDAQ and is in the ASX300. The clinical programs are best in class and the scientists are some of the best in Australia.

IMO this current board will never be capable of delivering a positive result, particularly when they are predominantly motivated by a salary and not equity.

Time to cut the dead wood.