BABYLON PUMP & POWER LIMITED — Capital/Financing Update 2011

Nov 22, 2011

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**ASX

Release 23 November 2011**

**IM

Medical Limited Timetable for In Specie Distribution**

IM Medical Limited (ASX: IMI) wishes to advise of an amendment in the timetable for the proposed in specie distribution of shares in Capitol Health Limited (ASX: CAJ). The proposed capital reduction and in specie distribution is conditional on shareholder approval at IMI’s AGM on 23 November 2011.

The timetable set out in the Explanatory Memorandum to the Notice of Annual General Meeting has been amended to allow sufficient time between the Annual General Meeting of IMI at which approval of the sale of IMI’s radiology business to CAJ will be considered by shareholders and the completion of the sale .

The amended timetable for the capital reduction and in specie distribution is as follows:

**Timetable

for Capital Reduction**

Timetable for Capital Reduction
Annual General Meeting to approve Sale of Radiology Businessand Capital Reduction	23 November 2011
Completion of sale of Radiology Business	30 November 2011
Ex date for Capital Reduction – the date on which Sharescommence trading without the entitlement to participate in theDistribution	2 December 2011
Record Date for Capital Reduction	8 December 2011
Despatch date	15 December 2011

The timetable is indicative only, and may be changed at the discretion of the Directors (subject to the Listing Rules) or as required by ASX.

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For further information, please contact the Company on (03) 9860-­‐0904. Richard Wadley Company Secretary

IM Medical Limited T 03 9860 0900 Level 1 117 Church Street F 03 9860 0999 Hawthorn. VIC 3122 Aust E info@immedical.com.au ACN 009 436 908 W immedical.com.au