Image Resources NL : Update - Notification of buy-back - IMA

Notification of buy-back

Announcement Summary

For personal use only

Name of entity

IMAGE RESOURCES NL

Announcement type Update announcement

Type of update

Daily buy-back notification

Date of this announcement 29/3/2022

Reason for update

Daily buy-back notification

ASX Security code and description of the class of +securities the subject of the buy-back

IMA : ORDINARY FULLY PAID

The type of buy-back is:

Employee share scheme buy-back

Total number of +securities bought back before previous day 0

Total number of +securities bought back on previous day 1,731,333

Refer to next page for full details of the announcement

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Notification of buy-backPart 1 - Entity and announcement details

For personal use only

1.1 Name of entity IMAGE RESOURCES NL

We (the entity named above) provide the following information about our buy-back.

1.2 Registration number type ABN

1.3 ASX issuer code IMA

1.4 The announcement is

Update/amendment to previous announcement

• 1.4a Type of update

  Daily buy-back notification

• 1.4b Reason for update

Daily buy-back notification

Registration number 57063977579

1.4c Date of initial notification of buy-back 10/3/2022

1.4d Date of previous announcement to this update 10/3/2022

1.5 Date of this announcement 29/3/2022

1.6 ASX Security code and description of the class of +securities the subject of the buy-back IMA : ORDINARY FULLY PAID

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Part 2 - Type of buy-back

2.1 The type of buy-back is:Employee share scheme buy-back

For personal use only

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Notification of buy-backPart 3 - Buy-back details

For personal use only

Part 3A - Details of +securities, price and reason

3A.1 Total number of +securities on issue in the class of +securities to be bought back 1,010,935,677

3A.2 Total number of +securities proposed to be bought back 1,731,333

3A.9 Are the +securities being bought back for a cash consideration?

Yes

3A.9a Is the price to be paid for +securities bought back known?

Yes

3A.9a.1 In what currency will the buy-back consideration 3A.9a.2 Buy-back price per +security be paid?

AUD - Australian DollarPart 3B - Buy-back restrictions and conditions

3B.1 Does the buy-back require security holder approval?

No

3B.3 Are there any other conditions that need to be satisfied before the buy-back offer becomes unconditional?

No

0.17850000

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Part 3C - Key dates

Employee Share Scheme, Selective and Other Buy-Backs

For personal use only

3C.1 Anticipated date buy-back will occur 29/3/2022

Part 3D - Other Information

3D.1 Any other information the entity wishes to notify to ASX about the buy-back

The shares were issued to employees under the Company's Employee Share Plan (ESP) as part of the ESP grants in September 2019 and October 2021. Some of those employees have ceased employment with the Company and the loans made to the employees to fund the issue of the shares became repayable on the cessation of employment. In accordance with the terms of the ESP, the Board has determined that the Company will buy back and cancel the relevant shares, with the proceeds applied to offset the loans.

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