Are we just sitting on our hands?, page-4

should get a fair few releases before the quarterly is due. Such as:

Shipment of Poste Italiane Locker Banks was completed in December representing a major production milestone for the first commercial sales of the Company’s next generation and proprietary Locker System. The Poste Italiane deployments, earmarked for a major city in Italy, is scheduled for completion in March 2016.

o The next batch of Pos Malaysia Locker Banks are set for imminent delivery to Kuala Lumpur. So far, the performance of the system in Malaysia and customer receptiveness has been very positive. The new Lockers are anticipated to be deployed by March 2016 as locations are identified and secured.

The newly formed partnership with a leading Managed Services Provider should start to expand the breadth of engagement in the Americas, albeit the official national launch is not anticipated until April 2016. Given the size of the organization we are dealing with and their expansive corporate customer base, managing a launch of this type requires significant organisation and planning. In the interim, the Company is continuing to progress opportunities with their various sales operations.

The outlook for the second half of FY 2016 in the US remains positive and in line with plan performance, reinforced by the anticipated release of two new products including the complimentary TZ PushLock in Q3 (which will extend compatibility to almost 100% of the cabinets available on the market) and the much anticipated TZ Electronic SwingHandle in Q4.

To expand sales outside of the Day Locker segment, the TZI team has been working with specialist local mailroom provisioning companies to target Corporate Mail Rooms and also University Campuses following the lead of our US business. Both of these segments are looking towards Locker solutions to support logistics operations, as it is becoming increasingly difficult to make direct deliveries of parcels ordered via the internet to the recipient. Multiple opportunities have been identified and proposals have been submitted which are scheduled to be awarded shortly