how can you quote that metaswitch or oracle are "involved"
Last Asx Announcement
please confirm the identity of the two significant telco vendors referred to in the December and March Quarterly Reports (“Vendors”).
Oracle Corporation and Metaswitch Networks. 2.1 The status of NOR’s proposed partnerships with the Vendors and why these partnerships have not yet been formalised;
The proposed partnerships remain subject to ongoing discussion and negotiation.
No specific event (positive or negative) during the ongoing discussions has led Norwood to consider that the status of discussions has changed (i.e. they are still on foot but remain incomplete).
There is NO specific event or issue that has prevented formalisation of the discussions, other than the general complex commercial nature of dealing with large counterparties particularly on new or novel products and solutions.
Why the market has not been updated with respect to the status of these partnerships (in the March Quarterly Report it states that discussions have been “complex and time consuming”, please clarify in your response why this is the case)
; No specific event (positive or negative) during the ongoing discussions has led Norwood to consider that the status of discussions has changed (i.e. they are still on foot but remain incomplete).
The discussions are complex and time consuming as they involve significant telco vendors with multilayered decision-making structures, and the commercial and technical interoperability discussions that may lead to a contract are not yet finalised. As such, Norwood did not consider it necessary to specifically update the market on the unchanged status of these ongoing discussions.
Norwood intends to provide a general status update alongside the upcoming Appendix 4C release in respect of the June quarter. 2.3 If, and when, NOR EXPECTS to FORMALISE these PARTNERSHIPS(if these partnerships are no longer likely, please state this);
Norwood considers that, based upon the current status of discussions and the reasonable expectations of management, it is LIKELY that these partnerships will be FORMALISED in the future.
BASED on the current status of discussions, Norwood anticipates that formalisation of one partnership is likely to occur in the current (September 2019) quarter and formalisation of the second partnership is likely to occur within the following quarter.
However, IF there is a change to the negotiations such that Norwood no longer considers that these partnerships will be formalised, Norwood will immediately update the market. 2.4
The significance of these partnerships to NOR; Norwood’s current focus is on further commercialising the World Voicemail product and both of the potential partnerships offer a VERY significant opportunity to advance that objective.
BOTH of the Vendors have HUNDREDS of TELCO customer relationships, and the partnerships have the potential to RAPIDLY advance sales of the World Voicemail product that Norwood would have great difficulty achieving by going to market with the product alone. 2.5
On what basis NOR stated, in the December Quarterly Report, that the partnerships were expected to be formalised during that quarter?
Norwood made the statements in the December Quarterly Report based on the reasonable expectations of management as to the status of discussions at the time of the report, including POSITIVE discussions advanced during January 2019. 3.
Please confirm that NOR is complying with the Listing Rules and, in particular, Listing Rule 3.1
Norwood confirms that it IS complying with the Listing Rules, and in particular, Listing Rule 3.1 4.
Please confirm that NOR’s responses to the questions above have been authorised and approved in accordance with its published continuous disclosure policy or otherwise by its board or an officer of NOR with delegated authority from the board to respond to ASX on disclosure matters.
Yes.
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