Snakk Media FY18 Interim Report

Interim Report
For the six months ended 30 September 2017

Snakk Media Limited

Snakk Media Limited
Unaudited Interim Report
For the six months ended 30 September 2017

Snakk Media Limited Page 2 of 16

Contents

Contents 2
Chief Executive Commentary 3
Condensed Consolidated Statement of Comprehensive Income 4
Condensed Consolidated Statement of Changes in Equity 5
Condensed Consolidated Statement of Financial Position 6
Condensed Consolidated Statement of Cash Flows 7
Notes to the Interim Financial Statements 8
Company Directory 16

Snakk Media Limited
Unaudited Interim Report
For the six months ended 30 September 2017

Snakk Media Limited Page 3 of 16
Chief Executive Commentary

Provided below is commentary on the six months results for the period ending 30 September 2017.

Revenue was $5,330,677, representing year-on-year growth of 13.27%. Cash in bank at the end of September 2017
was $0.5m.

Year-on-year the net loss after tax for the six months ended 30 September 2017 decreased from -$1.87m to -$0.6m.

The increase in revenue is primarily as a result of the self-service product that was introduced October 2016. Self-
service accounted for $935k of revenue in the six months to 30 September 2017. Australia and New Zealand managed
services revenue was approximately the same whilst Southeast Asia managed services revenue was lower. Snakk is
currently concentrating only on the Australian and New Zealand markets for managed services and all markets with
self-service.

Expenses have been reduced by approximately $1.2m (24.5%) as a result of successfully implementing a re-structure
in Q1 the full benefits of which started to be realized from June 2017. Operating expenses continue to be tightly
managed whilst ensuring our customer facing and service delivery capabilities are maintained.

Snakk’s core business is the provision of highly targeted geo and audience based managed service in-app advertising
supported by mobile creative on the Snakk Media Audience and other platforms. The data analytics capability that
Snakk has developed supports the managed services product range. Snakk also provides a programmatic geo mobile
self-service platform for customers who wish to manage their own advertising campaigns on UberMedia via Snakk. This
self-service offering complements Snakk’s managed service offering.

The mobile advertising market is highly competitive and volatile. Increasingly shorter sales cycles lead to revenue
fluctuations and uncertainty. The supply side is dominated by a handful of major global companies and is subject to
structural change. Snakk competes against the major global companies by focusing on differentiated niche products
and services - although there are competitors offering similar products and services – and by expanding its distribution
channels.

As announced on 30 June 2017 Snakk appointed an advisory firm to help identify and consider strategic capital options.
Snakk continues to explore capital and structural options with the assistance of the advisor.

Snakk’s level of working capital remains relatively low. Snakk’s management and board closely monitor and manage its
working capital and associated cash flow.

Snakk’s primary technology partner is UberMedia. The UberMedia platform that powers the majority of Snakk’s revenue
is a leading edge advertising technology and positions Snakk well to continue providing differentiated in-app products
and services. One of the most trusted mobile authorities, UberMedia continues to work closely with Snakk as
UberMedia’s supplier in the region.


Thank you




Joel Williams

Snakk Media Limited
Condensed Consolidated Statement of Comprehensive Income
For the six months ended 30 September 2017

Snakk Media Limited Page 4 of 16

Unaudited Unaudited Audited


6 months
ended
6 months
ended 12 months ended

30 September 30 September 31 March

2017 2016 2017

Note $ $ $

Advertising fee revenue 5,330,677 4,706,095 10,625,915
Direct media costs (2,205,699) (1,712,626) (4,277,592)
3,124,978 2,993,469 6,348,323
Other income 3,539

35,973 113,053

Finance income 2,107 5,757 10,764
Finance costs (67,563) (34,671) (92,398)
Net finance income (65,456) (28,914) (81,634)

Expenses
Depreciation (15,947) (18,346) (44,953)
Employee benefits (2,333,639) (2,759,708) (5,810,717)
Marketing and advertising (11,336) (140,810) (154,326)
Other expenses (1,318,937) (1,954,160) (3,544,172)
Total expenses (3,679,859) (4,873,024) (9,554,168)
Loss before taxation (616,798) (1,872,496) (3,174,426)
Income tax expense

-

-

-
Loss after taxation attributable to the shareholders (616,798) (1,872,496) (3,174,426)

Other comprehensive income
Items that may be subsequently reclassified to profit
or loss:
Change in foreign currency translation reserve (9,738) (17,287) (44,922)
Other comprehensive income after tax (9,738) (17,287) (44,922)
Total comprehensive income for the year attributable
to the shareholders (626,536) (1,889,783) (3,219,348)

Loss per share:
Basic loss per share (New Zealand Dollars): 4 (3.82) (11.92) (20.20)
Diluted loss per share (New Zealand Dollars): 4 (3.82) (11.92) (20.20)













The notes on the attached pages form part of and are to be read in conjunction with these financial statements.

Snakk Media Limited
Condensed Consolidated Statement of Changes in Equity
For the six months ended 30 September 2017

Snakk Media Limited Page 5 of 16

Share
Capital
Share options
reserve
Foreign
currency
translation
reserve
Accumulated
Losses Total Equity
Note $ $ $ $ $
Balance at 31 March 2016 12.419,643 927,691 (21,548) (9,529,680) 3,796,106
Comprehensive loss for the period
Loss for the period

-

-

- (1,872,496) (1,872,496)
Other comprehensive income
Items that may be subsequently reclassified to profit
or loss
Change in foreign currency translation reserve

-

- (17,287)

- (17,287)
Total comprehensive loss for the period

-

- (17,287) (1,872,496) (1,889,783)
Transactions with owners of the Company
Share-based payment transactions 3

- 149,710

-

- 149,710
Total transactions with owners of the Company

- 149,710

- - 149,710
Balance as at 30 September 2016 (unaudited) 12,419,643 1,077,401 (38,835) (11,402,176) 2,056,033
Balance at 31 March 2016 12,419,643 927,691 (21,548) (9,529,680) 3,796,106
Comprehensive loss for the year
Loss for the year

-

-

- (3,174,426) (3,174,426)
Other comprehensive income
Items that may be subsequently reclassified to profit
or loss
Change in foreign currency translation reserve - - (44,922) - (44,922)
Total comprehensive loss for the year

-

- (44,922) (3,174,426) (3,219,348)
Transactions with owners of the Company
Options forfeited 3

- (510,723)

-

510,723

-
Share-based payment transactions 3

- 227,113

-

-

227,113
Total transactions with owners of the Company - (283,610)

-

510,723 227,113
Balance at 31 March 2017 12,419,643 644,081 (66,470) (12,193,383) 803,871
Comprehensive loss for the period
Loss for the period

-

-

- (616,798) (616,798)
Other comprehensive income
Items that may be subsequently reclassified to profit
or loss
Change in foreign currency translation reserve

-

- (9,738)

- (9,738)
Total comprehensive loss for the period

-

- (9,738) (616,798) (626,536)
Transactions with owners of the Company
Shares issued 3 110,000 - - - 110,000
Share issue expense 3 (1,536) - - - (1,536)
Options forfeited 3 - (94,599) - 94,599 -
Share-based payment transactions 3 - 62,147 - -

62,147
Total transactions with owners of the Company

108,464 (32,452)

-

94,599

170,611
Balance as at 30 September 2017 (unaudited) 12,528,107 611,629 (76,208) (12,715,582) 347,946

The notes on the attached pages form part of and are to be read in conjunction with these financial statements.

Snakk Media Limited
Condensed Consolidated Statement of Financial Position
As at 30 September 2017

Snakk Media Limited Page 6 of 16


Unaudited Unaudited Audited

6 months ended 6 months ended 12 months ended

30 September 30 September 31 March

2017 2016 2017

Note $ $ $
Equity
Share capital 3 12,528,107 12,419,643 12,419,643
Share option reserve 3 611,629 1,077,401 644,081
Accumulated losses (12,715,582) (11,402,176) (12,193,383)
Foreign currency translation reserve (76,208) (38,835) (66,470)
Total equity 347,946 2,056,033 803,871


Current liabilities
Trade and other payables 2,696,746 3,100,656 3,008,618
Total current liabilities 2,696,746 3,100,656 3,008,618
Total liabilities 2,696,746 3,100,656 3,008,618
Total equity and liabilities 3,044,692 5,156,689 3,812,489


Assets
Current assets
Cash and cash equivalents 512,433 1,577,491 566,287
Trade and other receivables 2,447,527 3,346,008 3,130,637
Taxation receivable 123 108,226 14,783
Total current assets 2,960,083 5,031,725 3,711,707

Non-current assets
Property, plant and equipment 54,571 94,926 70,744
Financial assets at fair value through profit or loss 7 30,038 30,038 30,038
Total non-current assets 84,609 124,964 100,782

Total assets 3,044,692 5,156,689 3,812,489


For and on behalf of the Board:



Peter James
Director Director
30 November 2017 30 November 2017




The notes on the attached pages form part of and are to be read in conjunction with these financial statements.

Snakk Media Limited
Condensed Consolidated Statement of Cash Flows
For the six months ended 30 September 2017

Snakk Media Limited Page 7 of 16


Unaudited Unaudited Audited


6 months ended 6 months ended 12 months ended

30 September 30 September 31 March

2017 2016 2017

Note $ $ $


Operating activities


Cash was provided from:
Receipts from customers

6,531,136

5,866,313

12,167,240
Cash was applied to:
Payments to suppliers & employees (6,628,016) (7,256,407) (14,478,723)
Interest paid (67,563) - (92,398)
Net cash applied to operating activities 5 (164,443) (1,390,094) (2,403,881)


Investing activities

Cash was provided from:
Finance income 2,107 5,757 10,764
Cash was applied to:
Purchase of property, plant and equipment - (55,447) (75,547)
Disposals of property, plant and equipment - - 17,676
Net cash from/(applied) to investing activities 2,107 (49,690) (47,107)

Financing activities
Cash was provided from:
Net proceeds from share issue 108,482 - -
Net cash provided from financing activities 108,482 - -

Net increase/(decrease) in cash and cash equivalents
held (53,854) (1,439,784) (2,450,988)
Cash & cash equivalents at beginning of the year 566,287 3,017,275 3,017,275
Cash & cash equivalents at end of the period/year 512,433 1,577,491 566,287


Composition of cash and cash equivalents:
Bank balances 512,433 1,577,491 566,287












The notes on the attached pages form part of and are to be read in conjunction with these financial statements.

Snakk Media Limited
Notes to the Unaudited Condensed Financial Statements
For the six months ended 30 September 2017

Snakk Media Limited Page 8 of 16
1) Corporate information
Snakk Media Limited is a limited liability Company (the “Company”) domiciled and incorporated in New Zealand and
registered under the New Zealand Companies Act 1993. The company is designated as profit-oriented entity and is an
FMC Reporting Entity under the Financial Markets Conduct Act 2013. The Company is listed on the NXT which is a
licensed market operated by the New Zealand Stock Exchange.

These statements were approved by the Board of Directors on 30 November 2017.

2) Basis of presentation and accounting policies
The unaudited consolidated condensed interim financial statements presented are for Snakk Media Limited and its
subsidiaries (together “the Group”) for the six months ended 30 September 2017. The financial statements are
presented in New Zealand dollars.

The interim financial statements for the six months ended 30 September 2017 have been prepared in accordance with
Generally Accepted Accounting Practice in New Zealand and NZ IAS 34 Interim Financial Reporting. In complying with
NZ IAS 34, these interim financial statements also comply with IAS 34 Interim Financial Reporting.

These interim financial statements do not include all the notes of the type normally included in an annual financial
report. Accordingly, this report should be read in conjunction with the audited financial statements of Snakk Media
Limited and its Subsidiaries for the year ended 31 March 2017 which have been prepared in accordance with the New
Zealand equivalents to International Financial Reporting Standards (NZ IFRS) and International Financial Reporting
Standards (IFRS).

All significant accounting policies and methods of computation have been applied on a basis consistent with those used
in the audited financial statements of Snakk Media Limited and its Subsidiaries for the year ended 31 March 2017. The
Group is not subject to significant seasonality. The carrying value of all financial assets and liabilities is a reasonable
approximation of their fair value.

To ensure consistency with audited figures, 30 September 2016 comparatives have been regrouped where appropriate.

Going concern

The Group reported a loss of $616,798 (2016: loss of $1,872,496) and operating cash outflows of $164,443 (2016:
loss of $1,390,094) for the six months ended 30 September 2017. As at 30 September 2017 the Group has reported
total assets of $3,044,692 and total liabilities of $2,696,746.

These financial statements have been prepared using the going concern assumption.

The considered view of the Board of Directors of the Company is that, after making enquiries, we have a reasonable
expectation that Snakk Media Limited (the Company) and Group has access to adequate resources to continue
operations for the foreseeable future. For this reason, the Board of Directors considers the adoption of the going
concern assumption in preparing the financial statements for the half-year ended 30 September 2017 to be
appropriate.

The Board of Directors has reached this conclusion having regard to circumstances which it considers likely to affect
the Group during the period of at least one year from November 2017, and to circumstances which it considers will
occur after that date which will affect the validity of the going concern assumption. The key considerations are set
out below:

• Achieving the planned managed-service revenue growth:
o in the Victorian and Queensland markets where Snakk was under represented and;
o with incremental growth in the more established NSW and New Zealand markets.

Snakk Media Limited
Notes to the Unaudited Condensed Financial Statements
For the six months ended 30 September 2017

Snakk Media Limited Page 9 of 16
• Achieving continued growth of the self-service business introduced in October 2016 including expanding the
self-service customer base in all markets;
• Maintaining an acceptable gross profit margin through sales pricing and inventory purchasing, and;
• Achieving the anticipated cost saving benefits of the Group’s recent restructure.
The Board of Directors has reviewed the operating and cash flow forecasts prepared by management that covers a
period of at least one year from November 2017. The directors have obtained sufficient satisfaction to believe that
during this period there will be adequate cash flows generated from operating activities available to meet the cash
flow requirements of the Company and Group. The key assumptions made in preparing these forecasts are as
follows:
• The forecasts for managed-services and self-service are realised;
• Gross profit margins will remain stable except as a result of the planned change in product service mix to an
increased proportion of self-service compared to managed-services or as part of securing longer term
revenue agreements with acceptable returns. Self-service has a lower gross profit margin than managed-
services but lower operating costs to fulfil;
• The retention of key management;
• The exclusive distribution agreement with the key supplier is retained;
• Key customers are retained;
• The agreed favorable trading terms with key suppliers and creditors is maintained.
• The Group will continue to collect trade debts in a timely manner;
• Economic conditions in one or more regions do not change in a manner which impact advertising revenues;
• The competitive landscape of the advertising industry does not materially change;
• There are no structural changes in the advertising industry impacting the Group’s existing relationships and
service offering, and;
• There are no changes in technology which impact on advertiser behavior reducing the level of advertising
spend directed to managed or self-services in-app advertising.

The financial statements do not include any adjustments that would result if the Company and Group was unable to
continue as a going concern.

Snakk Media Limited
Notes to the Unaudited Condensed Financial Statements
For the six months ended 30 September 2017

Snakk Media Limited Page 10 of 16
3) Share Capital and Other Equity Instruments
Issued and Paid Up Capital
All shares issued are ordinary shares with no par value and rank equally with one vote attached to each fully paid
share.


Unaudited Unaudited Audited


6 months
ended
6 months
ended
12 months
ended


30 September 30 September 31 March


2017 2016 2017


$ $ $
Issued and paid up capital:


Balance at the start of the year

12,419,643 12,419,643 12,419,643
Ordinary shares issued during the period/year

110,000 - -
Share issues expenses

(1,536) - -
Balance at end of period

12,528,107 12,419,643 12,419,643







Movement in ordinary shares

No. of Shares



Company





Balance 1 April 2016 and 30 September 2016

15,712,242

Balance 31 March 2017

15,712,242

Movements during the period

550,000 shares issued at $0.20 each on 5 May 2017

550,000
Balance at 30 September 2017


16,262,242

Share Option Reserve
The share option reserve is used to record the accumulated value of unexercised share options and unvested shares
rights which have been recognised in the Statement of Comprehensive Income. As at 30 September 2017, executives
and directors have options over 742,925 shares (31 March 2017: 791,162; 30 September 2016: 1,254,685 shares).



Unaudited Unaudited Audited


6 months
ended
6 months
ended
12 months
ended


30 September 30 September 31 March


2017 2016 2017


$ $ $



Balance at the start of the period/year

644,081 927,691 927,691
Share based payment

62,147 149,710 227,113
Options forfeited

(94,599) -
(510,723)
Balance at end of period/year

611,629 1,077,401 644,081


Dividends
No dividends were declared or paid during the period ended 30 September 2017 (period ended 30 September 2016:
Nil; year ended 31 March 2017: Nil).
4) Loss per Share
The loss of $616,798 (30 September 2016: $1,872,496; 31 March 2017: $3,174,426) for the period represented a loss
per share shown below based on the weighted average number of ordinary shares on issue during the period. As share
options would have an anti-dilutive impact on the loss per share the basic and diluted loss per share are the same.

Snakk Media Limited
Notes to the Unaudited Condensed Financial Statements
For the six months ended 30 September 2017

Snakk Media Limited Page 11 of 16



Unaudited Unaudited Audited


6 months ended 6 months ended 12 months ended


30 September 30 September 31 March



2017 2016 2017


$ $ $



Loss after taxation attributable to the
shareholders

(616,798) (1,872,496) (3,174,426)
Weighted average ordinary shares issued

16,157,051 15,712,242 15,712,242
Weighted average dilutive options issued

- - -



Basic loss per share (cents)

(3.82) (11.92)
(20.20)
Diluted loss per share (cents)

(3.82) (11.92)
(20.20)




5) Reconciliation of Operating Cash Flows


Unaudited Unaudited Audited

6 months ended 6 months ended 12 months ended

30 September 30 September 31 March

2017 2016 2017

$ $ $



Loss after tax
(616,798) (1,872,496) (3,174,426)


Items classified as investing/financing
Interest received (2,107) (5,757) (10,764)
Add non-cash items:
Depreciation 15,947 18,346 44,953
Share based payment expense 62,147 149,710 227,113
Impairment of trade receivables (80) - (17,129)
Foreign currency reserve movement (9,738) - (44,922)
Add/(Less) movements in working capital:
Trade and other receivables 714,551 1,124,259 1,356,758
Trade and other payables (343,025) (804,142) (878,893)
Taxation receivable 14,660 (14) 93,429
Net cash flow applied to operating activities (164,443) (1,390,094) (2,403,881)

Snakk Media Limited
Notes to the Unaudited Condensed Financial Statements
For the six months ended 30 September 2017

Snakk Media Limited Page 12 of 16
6) Segment Information

(A) Operating Segment

The Group is organised into one operating segment, that being the provision of mobile phone enabled promotions
and marketing services. The Group primarily provides only information on operating segment revenue to Directors
on a regular basis. The Group’s operating revenue allocation by region is based on the geographical location of
the external customer. The Group operates principally in Australia.


(B) Geographic Segments

Unaudited 6 months ended

30 September 2017
Australia New Zealand Singapore Total
$ $ $ $

Operating revenue
4,423,328 732,519 174,830 5,330,677



Unaudited 6 months ended

30 September 2016
Australia New Zealand Singapore Total
$ $ $ $

Operating revenue
3,551,681 618,821 535,593 4,706,095



Audited 12 months ended

31 March 2017
Australia New Zealand Singapore Total
$ $ $ $

Operating revenue
7,984,312 1,436,624 1,204,979 10,625,915

Snakk Media Limited
Notes to the Unaudited Condensed Financial Statements
For the six months ended 30 September 2017

Snakk Media Limited Page 13 of 16
7) Financial Assets at Fair Value through Profit or Loss
All unlisted securities are classified as level 3 of the fair value hierarchy.


Unaudited Unaudited Audited

6 months
ended
6 months
ended
12 months
ended

30 September 30 September 31 March

2017 2016 2017

$ $ $
Unlisted securities
Moasis Global LLC Convertible Units – US
30,038 30,038 30,038

30,038 30,038 30,038
Moasis Global LLC ("Moasis") is a limited liability company registered in Delaware, United States of America. Moasis
has developed a digital system that delivers advertisements on smart phones and other mobile devices to consumers
within a defined geographic area selected by the advertiser. The Company subscribed for 65,500 Class A
Membership units at USD$1.53 per unit in February 2014. The fair value of this investment may be affected by
future movements in the pricing of units offered by Moasis Global LLC in addition to any foreign exchange
movements between the US dollar and NZ dollar. At 30 March 2016, the fair value of the units was based on
discounted enterprise value to annual revenue multiple. At 31 March 2017 and 30 September 2017, fair value of
this investment has been carried forward from prior year as we have been unable to obtain further information
about the investments.
Under the terms of the Class A membership units the Company is not entitled to any interest but are entitled to a
“priority return” equal to 8% of the unit holding issued in cash or equity, and a pro rata share on a pari passu basis
in distributions made to Class B Members. No priority return or distribution was received in the period ended 30
September 2017 (period ended 30 September 2016: nil; year ended 31 March 2017: nil).


8) Net Tangible Assets per Share


Unaudited Unaudited Audited


6 months
ended
6 months
ended
12 months
ended


30 September 30 September 31 March


2017 2016 2017


$ $ $



No. of ordinary shares issued

16,262,242 15,712,242 15,712,242
Total assets

3,044,692 5,156,689 3,812,489
Total Liabilities

2,696,746 3,100,656 3,008,618
Net tangible assets
347,946 2,056,033 803,871
Net tangible assets per share (Cents)

2.14

13.09

5.12

Snakk Media Limited
Notes to the Unaudited Condensed Financial Statements
For the six months ended 30 September 2017

Snakk Media Limited Page 14 of 16

9) Related Party Transactions
Derek Handley is a director of Aera Limited. Derek provided executive services to the Company through Aera Limited.
Derek resigned as a Director on 31 October 2015.
Really Useful Crew Pty Ltd, has provided development services in the production of websites. Mark Ryan is a Director
of Really Useful Crew who stepped down as CEO of Snakk Media Pty Limited on 22 December 2016.
Malcolm Lindeque entered into a service agreement with the Company pursuant to which he agreed to provide certain
financial management and operational services to the Company and its subsidiaries at an agreed rate through Sharp
Acumen Limited. Malcolm Lindeque is a director of Sharp Acumen Limited. Malcolm Lindeque was appointed as a
Director of Snakk Media Limited on 8 May 2015 and resigned on 14 January 2016.
Martin Riegel is a Director of Broadfield Advisory Limited and Independent Director of Snakk Limited. Martin Riegel’s
director fees and expense reimbursements are invoiced by Broadfield Advisory Limited.


Unaudited Unaudited Audited

6 months ended 6 months ended 12 months ended

30 September 30 September 31 March

2017 2016 2017

$ $ $
Transactions with related parties
Aera Limited - - 46,690
Really Useful Crew Pty Ltd - 4,507 19,156
Sharp Acumen Limited (trading as The Virtual CFO) - 7,329 -
Broadfield Advisory Limited 35,000 40,346 79,874
35,000 52,182 145,720

Related party payables
Derek Handley - 4,480 4,713
Broadfield Advisory Limited 30,794 7,818 9,847

30,794
12,298
14,560




Director payments*





Salary &
fees
Share-
based
payments
Salary &
fees
Share-
based
payments
Salary &
fees
Share-
based
payments
R Antulov – appointed 14 January 2016 37,576
2,916 35,962
6,804 72,418 11,016
P James – appointed 1 September 2015 72,641
46,942 69,738
103,270 140,213 159,600
M Riegel – appointed 12 June 2015
35,000 8,448 40,346 19,352 70,091 29,556
145,217 58,306 146,046 129,426 282,722 200,172

* - The Directors elected to defer payment of a portion of their salary and fees of $96,855 for the six months ended 30 September 2017 to
assist in managing the cash flow of the company.
10) Commitments & Contingencies
On 17 May 2017, the Group received a capital contribution call from potential investee entity totalling USD105,000
pursuant to subscription agreement dated 18 July 2014. The directors do not believe that the Group is liable for the
capital call and are considering the Group’s response including options to avoid funding the call altogether.

There are no other material contingent liabilities at 30 September 2017 (30 September 2016: Nil; 31 March 2017: Nil).

Snakk Media Limited
Notes to the Unaudited Condensed Financial Statements
For the six months ended 30 September 2017

Snakk Media Limited Page 15 of 16
11) Subsequent Events
There have been no events subsequent to reporting date which have a material effect on these financial statements.

Snakk Media Limited
Company Directory


Snakk Media Limited Page 16 of 16
Registered Office Company Number

Level 6 3202682

57 Symonds Street

Grafton Incorporated

Auckland, 1010 24 November 2010



Postal Address

Shares Issued

Snakk Media Limited
P.O. Box 147206
Ponsonby, 1144
New Zealand
16,262,242 Ordinary shares










Share Registrar Solicitors

Computershare Investor Services
Limited
Chapman Tripp

Private Bag 92119, Auckland P.O. Box 2206, Auckland City

Phone: 09 488 8700 Auckland 1140





Auditor Bankers

Staples Rodway BNZ Bank Limited

Tower Centre, 45 Queen Street 80 Queen Street, Auckland, 1010

Auckland, 1010








Board of Directors

Independent Directors

M Riegel - Appointed 12 June 2015

Peter James

P James - Appointed 1 September 2015

Martin Riegel

R Antulov - Appointed 14 January 2016

Rob Antulov