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SWIFT TV LTD — Capital/Financing Update 2018
Dec 3, 2018
65874_rns_2018-12-03_3092450c-56fe-41d2-89f3-58f3c86e1c2a.pdf
Capital/Financing Update
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ASX RELEASE 4[TH] DECEMBER 2018 ASX: SW1
NETWORKS
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SWIFT EXPANDS WITH INFINITE CARE
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HIGHLIGHTS:
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Swift expands in the aged care sector, rolling out its entertainment and connectivity services at three new sites for leading provider, Infinite Care.
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The agreement initially covers approximately 350 rooms in Queensland, with expansion in line with Infinite Care’s growth over a three-year initial term.
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As Infinite Care’s preferred provider, feasibility plans are underway to expand the services to an additional 2,500 rooms across Infinite Care’s existing facilities in South Australia, and future facilities across NSW, VIC and WA.
Leading communications, content and advertising solutions provider Swift Networks Group Limited (ASX: SW1, “Swift” or “the Company”) is pleased to announce it has signed a contract with leading aged care provider, Infinite Care, to provide its services to the group’s newest facilities in Queensland. The initial three-year contract will see Swift provide its aged care-specific package to approximately 350 rooms in early 2019 across sites including Infinite Care’s state of the art facility in Mt Lofty, Toowoomba, which opens to residents next month, and its facility at Cornubia, south-east of Brisbane, which is due to open in early 2019.
EYEING EXPANSION: In addition to these Queensland sites, Infinite Care operates five existing facilities in South Australia, totalling 400 rooms. The group aims to grow to 2,500 rooms by 2021 through greenfield development, expansion of existing facilities and targeted acquisitions in South Australia, New South Wales, Victoria and Western Australia. As its preferred partner, Swift is currently working alongside Infinite Care to assess the feasibility of providing its services across these venues.
BLUE-CHIP BACKING: Infinite Care is jointly owned by its founding Managing Directors and Moelis Australia, an ASX-listed financial services group with more than $3 billion of assets under management. Moelis Australia provides Infinite Care with the financial strength to deliver on its strategy to become a major provider of residential aged care in Australia. Swift would like to take this opportunity to thank the corporate advisory team at Moelis Australia for the introduction to Infinite Care.
Swift Networks Group Limited | ABN 54 006 222 395 | 1 Watts Place, Bentley WA 6069 | E: [email protected] | P: +61 (8) 6103 7595 | www.swiftnetworks.com.au
ASX RELEASE 4TH DECEMBER 2018 ASX: SW1
NETWORKS
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SWIFT CHIEF EXECUTIVE OFFICER XAVIER KRIS SAID:
“Aged care is a rapidly growing and in-demand market, and Swift is delighted to form a partnership with Infinite Care at a time when Infinite and Swift are both accelerating expansion plans. Having Swift’s package included as part of Infinite Care’s new facilities at Toowoomba and Cornubia will add to the quality of life of new residents and we look forward to rolling out our services to more Infinite Care sites in lock step with their growth strategy.”
INFINITE’S MANAGING DIRECTOR, CHRIS STRIDE, SAID:
“We’re excited at being able to offer extensive in-room entertainment options to our residents. We perceive Swift’s ability to provide increased connectedness for residents, to their family and the wider extended community as a key driver in our decision to select them for our new greenfield sites.”
SWIFT AGED CARE: aims to enhance the lives of residents in aged care facilities and lifestyle villages by providing a range of engaging services, including on-demand movies and television programming, health and lifestyle content, applications to keep residents connected to family and community, access to audio books, podcasts and local and international radio programming.
ABOUT SWIFT NETWORKS GROUP LIMITED
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Swift Networks Group Limited (ASX: SW1) is a diversified telecommunications, content and advertising solutions provider. Swift empowers guests to watch, play, connect and interact and provides accommodation providers with meaningful insights and opportunities to drive new business. Swift delivers customised content, communications and targeted advertising across secure closed networks. Swift’s services include free-to-air television, pay television, telecommunications, video on demand with content from some of Hollywood’s largest studios, integrated advertising and analytics. Running in more than 330 sites (approximately 65,000 rooms) across the mining, oil, gas, aged care, retirement village and hospitality sectors, Swift’s fully integrated platform is deployed in some of the world’s harshest regions, where reliability, flexibility and scalability are critical success factors.
FOR MORE INFORMATION, PLEASE CONTACT:
Xavier Kris Tim Dohrmann Investor and Media Relations Chief Executive Officer +61 8 6103 7595 +61 468 420 846 [email protected] [email protected]
Swift Networks Group Limited | ABN 54 006 222 395 | 1 Watts Place, Bentley WA 6069 | E: [email protected] | P: +61 (8) 6103 7595 | www.swiftnetworks.com.au