For what it's worth, my take on the AGM was very positive...

For what it's worth, my take on the AGM was very positive and encouraging.

Firstly it was acknowledged that Sydney and Melbourne are cash burning. In Sydney's case, a new focus is in place since September, with it linking as a National and International connectivity Hub, seeking to attract mainstream Telcos.

With Melbourne, DXN is looking to renegotiate lease, possibly sublet or even sell site. We know it's a problem but DXN seems to be having a genuine attempt to 'fix' the problem. It is also in the process of restructuring its ANZ Debt facility, which given our now historically low interest rates, will provide more breathing space.

Matthew was, as he always is, guarded in what he puts out to the market, in his words 'report on the outcome, not on the pipeline.' He stated also that DXN finds itself in a very competitive market space and both listed and non listed companies are looking for that 'edge' so he prefers, for all concerned, especially the shareholders, to 'announce' only on those outcomes.

For those long time NSW GIG Regional Hub followers, he outlined that DXN had expressed interest in more than one area of the Tender and as late as early November, DXN's submissions had been 'very well received' and in fact 'DXN will be asked to participate.' Can't be much plainer. Can't do anything about speeding up Government process but DXN have ticked all the right boxes for the Right to Tender on NSW GIG.

Additionally as late at this past Friday, Fiji had its DXN Landing Station fitted and by all reports a massive success in quality and functionality of the product. Again, future work in this area, along the same Contract lines have been assured.

So in summary:
1. Acknowledged areas of concern and addressed what is being done, re Sales and cost management, in both Sydney and Melbourne.
2. Reiterated the success of Tasmania. Small Edge Data Centres are now a strong focus for DXN.
3. Assured of Strong, Positive feedback (last fortnight) from the NSW Government for DXN's involvement in the NSW GIG Project.
4. Acknowledged Strong Positive feed back for the Landing Station in Fiji, (last week) indicating further Contract work.
5. Assured he would do everything to protect DXN from any possible competitors, making strong, formal announcements when outcomes are in place and not before.

All in All, I feel DXN are in a very good position to begin 2021 'Running'.....just saying.