All SGH questions - put here (financials ONLY), page-372

Hi Grant

You've been a big advocate for aggressive cost cutting in SGH. You've expressed some confidence this may represent a pathway to survival if done early enough and to a sufficient extent.

The media has reported on a review by the company of its property portfolio. I understand Mr Grech is currently in the UK to consider which sites (in addition to the two mentioned already) may also be closed down

• Do you think this cost cutting is merely symbolic or evidence of a more serious commitment to right sizing operations?

• Do you think the cost cutting is occurring in response to instructions from the banking syndicate?

• If yes to the previous question - does this suggest the banking syndicate is satisfied to pursue cost cutting options at this state as a course of remedial action?