Ann: AGM Presentation, page-18

Another good sign that I gleaned from the presentation is that the new CEO seems to have gotten hold of the need to have focused resources to manage the growth of the business. The number of employees have dropped from 305 at FY17 presentation to 289 at the AGM presentation, which will reduce costs a bit. Catapult needs to know that now is 'WORK HARD' time and not 'PARTY' time. There should not be any 'PARTY' mode (except Christmas and New Year ) until the company is making huge profits - WORK HARD now and PLAY HARD later! The rationalisation of the workforce is extremely crucial as the skillset requirements will change as the business grows and duplicate functions should be consolidated.

If management is reading this, my message to you is: Cost control and Resource Utilisation is also of great importance to the success of Catapult. Don't go on a hiring spree without having full visibility of what value that person is going to add to the business, and please performance manage the personnel who are not achieving the necessary KPIs for success. Otherwise, the 2nd strike may happen next year..