Ann: Annual Report to Shareholders, page-32

Calimack,

Good to hear from you again. I was hoping you could have been more vocal over the years.

Yes, it was a given that SW set up a great offshoring office.

You seem to pose a question (why was the onboarding of clients so underwhelming), and suggested Intiger had the product quality but didn’t venture forth to conquer?

I often wonder if allocating 99% of resources towards securing a Tier 1 company was a good tactic. Evidently not, and Intiger possibly wasted 2 years flirting with CBA whilst competitors were growing more organically.

Hmm, there was also a certain arrogance in 2016-2017, with quotes such as ‘we don’t need to market this as the product speaks for itself’.

I’m not sure whether the 3 dudes in the office are to blame or whether management made a catalogue of errors that other managers wouldn’t have done. We tend to feed off scraps of information and communication and ‘read between the lines’; it often feels like we’re flying blind.

Calimack, I’d like you to stick around and give your opinions on the following;

- is it too late for Intiger? Has the horse bolted?
- the level of competition and where Intiger sits?

No obligation, of course. I’ll happily make you a cup of tea, and Fat will regale you with some exceptional gardening stories.

Thank you,

WB