APN & oOhMedia! merging, page-11

NZ and Perth numbers don't stack up for XTD to consider targetting (with respect to commuter traffic), and the APN screens in Sydney, while sheet, are doing enough for APN so there's really no compelling reason to swap over.

They have an untapped credit line they can go to if they need to fund a roll out, and I think it's enough for about 40-odd screens. If they do get the go ahead for India, it's unlikely they'll install a heap at once but rather gradually roll it it so can be potentially funded from cash going forward. That is unless India is a big success, they win an SE Asian contract, and potentially UK, then a CR might be necessary. But I'd think they'd like to get the SP a bit higher before doing this.