The Board of professional technical and trade services workforce management firm,
Tandem Corp, today confirmed that it is not seeking to list the company on the ASX at
this time.

Tandem CEO Jonathan Field said despite an approach by Morgans to cornerstone an
IPO backed by strong institutional support, the Tandem board and executive decided not
to pursue a listing on the ASX at this time but rather focus on delivering the strong
pipeline of opportunities for the business and to further progress potential for strategic
investor interest.

“We are focused on continuing to grow the business and pursuing a number of exciting
opportunities to expand into new sectors.

“There are imminent growth opportunities in our existing client base and in new sectors,
such as insurance, utilities and retail, which face similar challenges around service
delivery on a mass scale.

“Later this month we commence work in the insurance sector with one of Australia’s
largest insurers. We are piloting Tandem’s innovative outsourced field workforce model
to see how it can improve the way insurance claim management is delivered,” Jonathan
Tandem (formerly ISGM) was established in 2010 and has grown steadily building a
reputation as Australia’s leading workforce management firm.

“With annual revenues around $650m, we currently manage over 2,900 subcontracting
companies who employ in excess of 5,200 workers across a number of industries
representing in excess of 4 million customer interactions per year,” Jonathan said.