Ann: Swift FY22 Growth Roadmap, page-11

I believe the ASX removed information from the update. The ASX are trying to make sure only facts are delivered. It's difficult for management to update shareholders on strategy direction, changes or opportunities and so we get a bland update or as some put it a nothing burger.

The product update should be a good thing as the market has dramatically changed. Once upon a time, Foxtel was the only player in payTV area, however with a range of different streaming providers, people can have a wider range of choice and are expecting it. Therefore Swift needs to adapt with this change (especially in the mining sector) as the entertainment package is an important part of the employment for fly in and out workers.

In relation to problems. Pippa is still fixing up the issues left from Xavier - MM, DXC, Aged Care product not to standard, high cost base, too many products (students, hotels, Vietnam, gaming, ships, etc).

Looking back, Xavier was building screens or room numbers with a view that he needed to get to 120k to 150k and then look for someone to takeover the business. Turnover was more important than profit margin.

Pippa has been fixing the holes and rebuilding a product and sales team.