Market Announcements

IMB Ltd advises that the Deemed Market Value for the Off-Market Buyback of IMB Shares is $4.91. The final Buyback Price will be determined by applying the Buyback Discount of between 0% and 14% (at increments of 2%) to the Deemed Market Value.

Following an extensive review of potential head office locations and available properties, IMB Bank is pleased to confirm that it has entered into arrangements for the purchase and development of the site at 47 Burelli Street, Wollongong, in the heart of Wollongong’s CBD.

IMB Bank held its Annual General Meeting today 31 October 2017.

IMB’s Board is pleased to announce details of an Off-Market Share Buyback under which it intends to buy back up to $13 million worth of its ordinary shares on issue through an off-market tender (“Buyback”).

Members are advised that the 2017 Annual General Meeting is to be held on Tuesday, 31 October 2017 at 10.00am (Sydney time), at the Hoskins Room, Novotel Northbeach Hotel, 2-14 Cliff Road, North Wollongong.

IMB is pleased to announce that Mr Peter Fitzgerald has joined the Board of IMB and its subsidiaries as a non-executive director, following a casual appointment made by Directors.

Over the 2016-2017 period, IMB Bank has grown and remains financially strong, relevant and well positioned for the future despite a challenging operating environment.

IMB announces that it has completed the issue of A$40,000,000 of 10 Non-Call 5, Tier 2 Subordinated Floating Rate Notes at the 3 month BBSW+300bps under its existing AUD $2,000,000,000 Debt Issuance Program.

As part of a downgrade of 23 Australian financial institutions, IMB Ltd acknowledges Standard & Poor’s (S&P) decision to lower its long term credit rating from ‘BBB+’ to ‘BBB’. The outlook applied by S&P to this rating is ‘Stable’.