Shareholder Survey, page-21

Cash Converters loan book has started to grow again over the last few quarters. A large amount of the business profitability comes from this financing activity. To improve the returns to shareholders will mean optimising the balance sheet for the size of the business between the loan book, debt and equity.

The question for me is around business strategy and the business model. The current model is a mixed bag with the pawn shops and sale of second hand items, small unsecured loans, car loans and franchise income. It would be good to see the strategy for the future.

There are also several new tech disrupters in the finance space who are providing online loans through their digital platform and have minimal labour costs per loan. Some of these companies have grown rapidly as customers adapt to the new way of obtaining finance. Are these disrupters competitors and how does CCV compete.

A share buy back will improve the balance sheet and ROE. The payment of a sustainable dividend every 6 months will also help to lift the current share price.

I would like to see a little more vision around the future business model and strategy.