IMPEDIMED LIMITED — Director's Dealing 2009

Nov 4, 2009

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	IMPEDIMED LIMITED
ABN	65 089 705 144

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Dr Michael Panaccio
Date of last notice	28/08/2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Indirect - Masto Pty Ltd (a company controlled by Dr Michael Panaccio): Indirect - Starfish Technology Fund 1, LP (an entity controlled by Dr Michael Panaccio): Indirect - Various holders (deemed relevant interest under section 608(3)(b) of the Corporations Act in shares which are subject to voluntary and mandatory escrow agreements with the entity:
Date of change	24/10/09 Change in deemed interest (not a transaction); ASX quotation effective 28/10/09

• See chapter for defined terms.

11/3/2002

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Masto Pty Ltd (a company controlled by Dr Michael Panaccio): • 254,445 ordinary shares • 114,500 options to subscribe for ordinary shares at an exercise price of $0.72 per share Starfish Technology Fund 1, LP (an entity controlled by Dr Michael Panaccio): • 24,285,465 ordinary shares • 2,763,200 options to subscribe for ordinary shares at an exercise price of $0.72 per share Various holders (deemed relevant interest under section 608(3)(b) of the Corporations Act in shares which are subject to voluntary and mandatory escrow agreements with the entity: • 7,814,474 ordinary shares
Class	Ordinary shares
Number acquired	Nil
Number disposed	Nil, but 7,510,126 shares belonging to another holder, unrelated to Dr Panaccio but deemed by the Corporations Law to be a relevant interest through Dr Panaccio being a director holding greater than 20% of the voting power were released from escrow on 24 October 2009 and reduce Dr Panaccio’s relevant interest.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil – Not applicable

• See chapter for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Masto Pty Ltd (a company controlled by Dr Michael Panaccio): • 254,445 ordinary shares • 114,500 options to subscribe for ordinary shares at an exercise price of $0.72 per share Starfish Technology Fund 1, LP (an entity controlled by Dr Michael Panaccio): • 24,285,465 ordinary shares • 2,763,200 options to subscribe for ordinary shares at an exercise price of $0.72 per share
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Release of shares under escrow not controlled by Dr Panaccio, but deemed as a relevant interest

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A

• See chapter for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter for defined terms.

Appendix 3Y Page 4

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