Misleading and deceptive conduct of AFR, page-28

Shameful reporting. GSW's update in December on CBA is the result of CBA and GSW agreeing to delay rollout for an update on the Albert POS platform. GSW's release basically said the system was in pilot. It's not up to CBA to approve market releases by GSW. GSW was providing timely and factual release as part of continuous disclosure to the market. Exactly the thing Boyd accuses GSW of not doing.

Here is the release.

CBA and GetSwift Update GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), the SaaS solution company that optimises delivery logistics world-wide, is pleased to provide an update on the exclusive multi year partnership it has signed with Australia’s leading financial institution Commonwealth Bank of Australia. As previously noted Commonwealth Bank of Australia has partnered with GetSwift to offer retail merchants the ability to compete with their global counterparts when it comes to deliveries and logistics. The exclusive partnership will allow CBA’s retail merchants to access an affordable best in class logistics platform to continue to improve their customer experience in distributing their goods. Initially, it will benefit merchants and consumers in two ways: 1) It will turn every Albert POS vendor into a delivery-ready store- automatically queueing, batching, routing and dispatching the delivery of any goods purchased using an Albert POS. This process will be seamlessly managed by the terminal, and the delivery will be outsourced to either existing logistics companies on the GetSwift network, or the merchant’s inhouse delivery team. 2) By arming delivery drivers on GetSwift’s network with an Albert platform POS terminal and associated devices, it will now allow for consumers to pay for goods on arrival as opposed to paying for them ahead of time, incentivising better delivery processes and reduced wait time. As our customers continue to use emerging online retail services, we believe we also have a role to play in enhancing that experience. Both the Company and CBA are pleased with the progress of the program. Extensive testing, security reviews, stability metrics, and validation of the platform has been conducted in 2017. Some key highlights: ● The Driver application has been jointly tested and is fully functional/ready for use. ● The payment component has been jointly tested and is being validated live in select markets. ● The Store application has been jointly tested and is fully functional/ready for use. ● CBA will begin deploying the GetSwift platform as part of the new Albert operating 2 system rollout. Although a deployment under the old CBA Albert operating system was considered to speed up market deployment by a few months, strategically the bundling of the GetSwift service with the new Albert operating system was the preferred choice and agreed by both organisations. ● Approximately 90,000 merchants will receive the new operating system with the GetSwift platform with go to market live rollouts planned from Feb 2018 onwards. ● The company expects to see revenues from the market utilization to start manifesting in mid-2018. ● CBA and GetSwift will jointly address and market the new product from Feb 2018 onwards. --- ENDS ---