Ann: Market Update, page-177

Unless it is seen as beneficial to potential clients. With outsourcing work to Asia there is always a lot of smoke and mirrors. I have a close friend whose wife worked in payroll for a mining service company and was recently let go as they outsourced the whole payroll and other back office admin tasks to the Philippines. They were notified one day out of the blue and told they will be commencing transitioning for 1 month and then will be paid out and be out of a job. The planning of this would have been going on for months. If my mates wife had of known this was happening she would have started looking for work elsewhere sooner. There would have been a mass exodus from the company by admin staff before the handover to the Philippines. That would have made the transition extremely difficult. If this back office company was listed on the ASX and an announcement was made detailing potential outsourcing with this mining service company (Monadelphous) then employees would have gotten wind of it and seen the writing on the wall.

The fact that IAM is offering confidentiality to clients for pilot programs and trials is very professional and to the benefit of the clients and also IAM itself been more appealing to potentially engage with. It sucks for shareholders to not know but it's for the benefit of locking in clients and keeping them happy which I put before my need to know who that client is.