Ann: PLACEMENT, RELAXATION OF DEBT COVENANTS & SPP, page-6

Half-yearly wages were $7.5M+, JobKeeper covered $4M. Granted, we do have 2 weeks of school holidays in the first 2 weeks of April, so there should be an uptick in turnover in both Oliver's bricks-and-mortar stores and EG.

Not 100% sure how JobKeeper works, but I was under the impression that the employer pays wages and then claims JobKeeper later - so even though JobKeeper ends on 28th March, they may be able to get one or two weeks of wage subsidy after that - which would mean the last dregs from JobKeeper will come in during the school holidays, which will mean the post-holiday income reduction will be a double-whamy. After that, they enter into a 10-week lull in trading at their bricks-and-mortar stores and will be heavily reliant on people grabbing a sandwich at the EG outlets.

Maybe most stores will remain open through the school holidays, but if the numbers aren't SPECTACULAR, expect them to close shortly thereafter.

Ether way, Oliver's will need to PROVE to ASX that they can trade as a going concern before the suspension is lifted.

Expect more tangible plan announcements over the next 2 weeks.