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Amaysim Australia Releases 2019 Annual General Meeting - Chief Executive Officer's Address

24 Oct 2019  |  15:49:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: AGM - CEO Address

Amaysim Australia released 2019 AGM address stating that the mobile market continued to be highly competitive. The network operator's 'growth-at-any-cost' mentality had a negative impact on ARPU across the entire market. However, the three network operators are turning their attention to the investment required to roll-out 5G while maintaining their 3G and 4G networks. In March, the Company completed a $50.6m capital raise providing the capital required to restructure debt, ramp up marketing initiatives in mobile, build and launch disruptive subscription energy plans and invest in technology stack. Market research shows that more than 70% of mobile handsets are BYO and the MVNO market is forecast to grow by 44% over five years to June 2022.

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