Ann: Notice of General Meeting/Proxy Form, page-9

Just adding a bit of detail/analysis to throw into the firing range...

"The actual number of ADSs (and underlying ordinary shares) and the issue price payable per ADS applied for under the IPO will be determined by the Company in conjunction with the underwriter of the IPO (Underwriter) at the conclusion of the roadshow for the IPO."

Our take: it's good to see we're heading into an extensive roadshow, likely across the US. That should drive interest into the company at the very least, potentially amplifying its position in the market. We don't recall the company doing a roadshow in the past couple of years from memory, probably because of COVID-19 travel restrictions, the fact that the company hasn't needed to raise much money/awareness, and because management have been setting the company up/positioning themselves for back-to-back drug development programs and the NASDAQ listing. So it's really good to see that we're finally marketing the company to outside investors who may not even know that IHL exists and the massive potential it offers - especially in the US.

"Although the amount to be raised and the number of Shares and ADSs to be issued in connection with the IPO are yet to be determined, the Company has resolved that the issue price of Shares will be not less than 80% of the volume weighted average price for Shares traded on ASX calculated over the 5 days on which sales in the Shares are recorded before the date on which the issue is made."

Our take:@rhino78 said it best above: "Keep in mind Joel, Troy, Alistair and Sud hold a huge number of shares, so they are not going to shoot themselves in the foot with a low ball price here.". That's spot on. The sheer fact that management own a sheeeett load of stock in this company speaks volumes and means that their actions will serve in the best interests of shareholders. It's good to see that the issue price will be no less than 80% of VWAP...so lets say a 20% discount to the 5-day VWAP. That raises another point. Given we don't know (and management doesn't know either) how many shares will be issued and at what price, we think this is the start to a potentially massive share price run...and the days of 30c and lower are over. Hopefully that's the case. But if logic serves us right, and don't hold us to it, it looks like we're heading to 40-50c before 17 September 2021 to get that 5-day VWAP up as high as possible. Then, when the NASDAQ listing comes and the company hits the world map, it's blue skies ahead!

To your first million,
-Trading For Millions