BRINGING THE GLOBAL COMMUNITY TOGETHER TO IGNITE INNOVATION AND ACCELERATE MARKET GROWTH

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BRINGING THE GLOBAL COMMUNITY TOGETHER TO IGNITE INNOVATION AND ACCELERATE MARKET GROWTH
17TH ANNUAL

      23 - 26 April 2018
      Madrid Marriott Auditorium Hotel
      & Conference Center I Madrid

      BRINGING THE GLOBAL
      COMMUNITY TOGETHER TO
      IGNITE INNOVATION AND
      ACCELERATE MARKET GROWTH

      Find out more at:
      tmt.knect365.com/mvnos-world-congress   @MVNOXchange #MVNOsWorld
BRINGING THE GLOBAL COMMUNITY TOGETHER TO IGNITE INNOVATION AND ACCELERATE MARKET GROWTH
DEAR MVNO COMMUNITY MEMBER
                              Welcome to the one and only global MVNOs meeting, where the innovators and disruptors in the telecoms
                              space come together to unite, expand and enable the MVNO sector.

                              The MVNO market continues to grow and so does the MVNOs World Congress! To reflect the changes in the
                              telco market and increasing convergence between different technologies and services, the event will now
                              consist of two MVNOs streams as well as dedicated tracks for MVNOs in Iot, eSIM and Wholesale.

                              Taking place over four days, the event is engineered to ignite innovation and accelerate growth in the MVNO
                              space through several formal and informal sessions focussed on ideas brainstorming, co-operation, problem
                              solving and networking. To name just a few new interactive sessions the meeting will now include Peche
                              Kucha presentations, fireside chats, user demos and many more.

                              It would not be the MVNOs World Congress without the many informal networking opportunities during the
                              VIP Parties, MVNOs Awards, drinks at the reception floor and the MVNO Run.

                              The opportunity to meet with the global MVNO community only happens once a year and you cannot afford
                              to miss it!

                              Looking forward to greeting you there,
                              The MVNOs Team

                                                                                EXPECTED GROWTH IN THE COMING YEARS
                                                                        100
                                                                         90

                                                                         80

                                                                         70
                              Source: Global Market Insights Feb 2016

                                                                         60

                                                                         50
“MVNO MARKET SIZE IS                                                     40

SET TO EXCEED USD 85                                                     30                                                                                      JUSTYNA TOPCZEWSKA
BILLION BY 2022”                                                         20

                                                                         10
                                                                                                                                                                 Event Producer
                                                                                                                                                                 Justyna.Topczewska@knect365.com
Global Market Insights 2017                                               0                                                                                      Tel: +44 (20) 701 75418
                                                                                2012   2013   2014    2015    2016   2017     2018   2019   2020   2021   2022
                                                                        $ bn
                                                                                 North America       Europe    Asia Pacific     Latin America      MEA

                                                                               2018 SPONSORS
BRINGING THE GLOBAL COMMUNITY TOGETHER TO IGNITE INNOVATION AND ACCELERATE MARKET GROWTH
CONSULTANT/
                                                                                                                 ANALYST

YOUR EVENT EXPERIENCE IN 2018                                                                                       5%

                                    A TRULY GLOBAL MEETING                              SOLUTION
                                                                                                     32%           OVER 60%
                                                                                        PROVIDER                   BUY-SIDE
                                                                                                                                63%
                                                                                                                                       MVNO/MNO IN
                                                                                                                                       ATTENDANCE

                                        EUROPE

                                      46%                                                           THE RIGHT AUDIENCE
    NORTH                                          MIDDLE EAST
   AMERICA                                                                                         EXECUTIVE

  19%                                               7%            ASIA &
                                                                                                               15%
                                                                 OCEANIA

              LATAM
                                    AFRICA

                                    4%                           15%                                               THE MOST
                                                                                        HEAD OF/
              9%                                                                        MANAGER      20%             SENIOR
                                                                                                                   ATTENDEES
                                                                                                                               65%
                                                                                                                                      C-LEVEL/MD

800+                  130+                   80+                      240+               380+                                  96
  COMMUNITY              SPEAKERS                  COUNTRIES                 MVNOS IN              COMPANIES IN                   HOURS OF
    MEMBERS                                      REPRESENTED               ATTENDANCE               ATTENDANCE                 NETWORKING
BRINGING THE GLOBAL COMMUNITY TOGETHER TO IGNITE INNOVATION AND ACCELERATE MARKET GROWTH
AROUND THE CLOCK NETWORKING

             LIVE POLLING                   VIP SERVICE   900+ PRE-SCHEDULED 1-2-1 MEETINGS   NETWORKING APP

              MVNOS RUN                    MVNOS PARTY         2x SPEED NETWORKING             MVNO AWARDS

  WHAT TO EXPECT IN 2018:

  3X                  2X               3X
       FULL DAYS       MVNO TRACKS     PRE-CONFERENCE
                                           WORKSHOPS

  PLUS
  MVNOs            Wholesale
   in IoT           as a Service
NEW
AN INNOVATIVE AGENDA FORMAT
             6X                      3X                     4X                    4X                       16X                    16X                     4X                     Business
                                                                                                                                                                                  breakfast
USER DEMO      PECHAKUCHA           FIRESIDE CHATS          OPEN DEBATES            POWER PANEL           WORKING GROUPS              ROUNDTABLES              INTERVIEWS              FOR MVNO
                   SESSION                                                                                                                                        ON STAGE          LEADERS CLUB

                                                                AGENDA AT A GLANCE
                                                              PRE-CONFERENCE WORKSHOPS MONDAY 23RD APRIL
             How to mitigate the costs of                               Following the recent developments in                           Understaning e-SIM and its implications
            roam-like-at-home regulations                                the emerging markets: India focus                                     for the telco business

                                                                        DAY ONE TUESDAY 24TH APRIL
                                                                             IGNITING INNOVATION DAY

                                                                                                                                     MVNOs
                                                                                                                                      in IoT
      How has the e-SIM ecosystem evolved since the announcement of the latest standards?            Monetising IoT as an MVNO: connectivity services, data analytics, devices, applications
      When can we expect a large scale deployment of the e-SIM enabled primary mobile                How do enterprises screen and search potential IoT partners?
      devices?

                                                     Convergence between e-SIM and IoT
                                                     • How does e-SIM enable greather IoT growth?
                                                     • Providing seamless network switch
                                                     • Adjusting marketing and distribution strategies and enhancing customer experience

                                      VIPS & SPEAKERS
                                         RECEPTION
AGENDA AT A GLANCE
                                 DAY TWO                                                                           DAY THREE
                         WEDNESDAY 25TH APRIL                                                              THURSDAY 26TH APRIL

                                                                                                     BUSINESS BREAKFAST FOR
                Business                   MVNO                                                    THE WHOLESALE LEADERS CLUB
                 breakfast                  Leaders Club

  MVNO                       MVNO                      Wholesale                   MVNO                          MVNO                         Wholesale
   Disruptors                 Innovators                as a Service                Disruptors                    Innovators                   as a Service

        Digital                      Service                  Roaming &                  Digital                        Service                     Wholesale
    transformation                 innovation                  pricing               transformation                   innovation                   agreements

Service & network            What value added          Addressing the roaming    Developing a compelling       3G/4G/WiFi data offering      Wholesale agreements
virtualisation: banking on   services to focus on?     changes: price            enterprise and SME                                          innovations: capacity &
the latest developments      From service bundling     adjustment and service    offering: Fixed mobile        Improving customer            profit sharing
in network slicing and       through quad play to      bundling                  convergence                   experience and creating       agreements
cloud, VoLTE, VoWiFi and     mobile money and smart                                                            brand recognition
VoIP solutions               home offerings            Developing long term      Building a digital telco
                                                       wholesale stratgeies:     provider: From online
How can all the new          How to respond to the     flexible plaform and      enrolment to AI enabled       Developing e-Commerce strategies and enhancing social
technologies help with       emegence of new players   pricing development       customer service centres      media engagement
transforming MVNO            in the market?
business and making it       Developing AppVNO
                                                                                Evaluating the role of operators and MVNOs in the emerging markets
more profitable?             models
                                                                                Being ahead of the curve - where will the new markets for MVNOs be in 2019-2020?
                   TRACK SPECIFIC WORKING GROUPS DISCUSSING
                   THE OPPROTUNITIES COVERED DURING THE DAY                                   SPEAKER ROUNDUP AND NETWORKING IN THE EXHIBITION

     COCKTAIL RECEPTION IN THE EXHIBITION

         MVNO AWARDS
@BLAH • 263 MOBILE • 3 AUSTRIA • 8F • A1 TELEKOM AUSTRIA • ACHELOS • ACI WORLDWIDE • ACM&S INTERNATIONAL • ACN EUROPE • ACQUA TELECOM • ACROBITS • ACTS AG PALMARIUM GROUP • AINA •
AIRSNAP • AIRTEL • AMAYSIM • AMDOCS • AMDOCS OPTIMA • AQUA • AREVOCOM • ASDA MOBILE • ASEL TELECOM GROUP • ASPIDER-NGI • AUDIOCODES • BANDWIDTHX • BASE CO NV • BAZILE TELECOM • BEST
WEALTH GLOBAL • BETV SA • BGBG • BH TELECOM • BICS • BLUE WIRELESS • BLUEPHONE • BLUESTEIN & ASSOCIATES • BONGOTEL • CAIRON • CAPGEMINI • CARTESIAN • CELITECH • CELLO • CENTILE TELECOM
• CENTILE TELECOM APPLICATIONS • CHINA MOBILE • CHINA MOBILE INTERNATIONAL • CHINA TELECOM • CHINA TELECOM FRANCE • CHINA TELECOM GLOBAL • CHINA UNICOM EUROPE OPERATIONS • CHOICE
WIRELESS • CIERTO • CIQUAL • CIRCLES ASIA • CISCO • CJ HELLOVISION • COMFONE • COMPRION • CONECTO • CORIOLIS • CUBIC TELECOM • CYTA • DAWIYAT (SAUDI ELECTRICITY COMPANY) • DEUTSCHE
TELEKOM • DIGITAL CLIPPER • DIGITAL PRIVACY • DIGITALK • DIME - JUIKER • DLA PIPER • DNA • DRILLISCH NETZ • DTTECH • EAS • EASYTEL • ECORENEW • ECOTEC LTD • EE • EFFORTEL • ELATEC • ELING
PARTNERS • ELISA CORPORATION • ENGHOUSE NETWORKS • EQUITY GROUP • EUROPEAN COMMISSION • EXALINKS • EXPRESSO TELECOM SENEGAL • FALCON BUSINESS RESOURCES PVT • FANAP ICT HOLDING OF
PASARGAD FINANCIAL GROUP • FCS • FENERCELL • FL1 SMART SIM • FLEX MOBILE • FLEXINETS • FLYMOTECH • FON • FREEDOMPOP • GAMMA • GEMALTO • GIGSKY • GINTEL • GLOBAL CALL AND MCT • GLOBALDATA
• GLOBALGIG • GLOBE TOUCH • GRAYSTONE STRATEGY • GSMA • HANSEN TECHNOLOGIES • HORMUUD TELECOM • HUAWEI • HUAWEI FRANCE • HUAWEI SOFTWARE • HUAWEI TECHNOLOGIES DUESSELDORF •
HUAWEI WEU • HUE • HUTCHISON • HUTCHISON DREI • HUTCHISON DREI AUSTRIA • HUTCHISON GLOBAL COMMUNICATIONS • IFG CONSULTING • IMEX GROUP • I-NEW • INFOMARK • INGENEO SAS • INOVEDIA
TECHNOLOGIES • INSIGHTFUL TECHNOLOGY • INTENET INITIATIVE JAPAN • INTERNATIONAL TELECOMMUNICATION UNION • INTERNET INITIATIVE JAPAN • INTEROP TECHNOLOGIES • IOT BILLING SOLUTIONS
INTERNATIONAL • IPASS • IQSIM • ISTELIA • ITALTEL FRANCE SAS • JINI GURU • JSC INGENIUM • JSC TINKOFF BANK • JUIKER • KAJEET • KLUCZ TELEKOMUNIKACJA • KPN • LANCK TELECOM • LE FRENCH MOBILE
• LEBARA • LEGOS • LG UPLUS • L-MOBI MOBILE • LPTIC SERVICES • LYCAMOBILE • MAMOUTH • MANX TELECOM • MAS MOVIL • MASS RESPONSE SERVICE • MATERNA • MAVENIR • MAXCOM S.A. • MDS • MEUNITY
• M-MOBILITY • MNF GROUP • MOBILE TECHNOLOGY CONSULTING • MOBILISE CONSULTING • MOBOLIZE • MONACO TELECOM • MONDICON • MOTOROLA SOLUTIONS • MTC-AMOTEL • MTN • MTN BENIN • MTN
CONGO SA • MTT MULTIREGIONAL TRANSIT TELECOM • MTX CONNECT • MULTI DIGITAL SERVICES • MVNO EUROPE • NAKA MOBILE • NETBYNET HOLDING • NETFONE • NETNUMBER • NETWORK IP • NEUROCOM •

360 COMPANIES IN ATTENDANCE
NEXGE • NEXGE TECHNOLOGIES • NEXTEL • NIGERIAN COMMUNICATIONS COMMISSION • NOITEL ITALIA • NOKIA • O2 • O2 (TELEFONICA UK) • OASIS • OHHO • OLSWANG • OMANTEL • OMANTEL WHOLESALE
BUSINESS UNIT • ONOFF • ONOFF TELECOM • OOREDOO OMAN • OPENET • OPTUS • ORANGE • ORANGE BELGIUM • ORANGE WHOLESALE • OTR GLOBAL • OUMOU LEADER DISTRIBUTION EQUIPEMENT • OVUM •
OXYMA • P.A.ID STRATEGIES • PARETEUM CORPORATION • PARSIAN FIXED COMMUNICATION PROVIDER • PARTITIONWARE • PERFIL • PLAY P4 • PLINTRON • PLUS COMMUNICATION • POLKOMTEL PLUS • POND
MOBILE • PORTAONE • POSTE MOBILE • PRIXTEL • PROTEI • Q TECHNOLOGIES • QUORTUS • RAHBORD HOSHMAND SHAHR • RAMI LEVY COMMUNICATIONS • RAYAN FARAZ LOTUS DANESH • RAYANFARAZCO • READY
WIRELESS • RECYCLE LAND • RED DAWN CONSULTING • REDMILL • REDPOCKET MOBILE • REDTEA MOBILE • RITESIM.COM • RIVADA NETWORKS • ROAMABILITY • RRD • SAFARICOM • SAMSUNG ELECTRONICS •
SAUDI TELECOM COMPANY • SBERBANK TELECOM • SCORECARD • SDI • SHAHR BANK • SICAP • SIM 901 • SIMALLIANCE • SIMCORNER • SIMULITY • SIMYO • SINGTEL OPTUS • SIXTY KEAD • SKY • SMART MOBILE
• SMARTCOM • SMARTCOMM • SMARTPLAY • SMSHIGHWAY • SONORYS TECHNOLOGY • SONUS NETWORKS • SORACOM DK APS • SPARK NZ • SPEECKAERT • SPRINT • SS7WARE • STANDPLAN • STC • STOUR
MARINE • SUMMA NETWORKS • SURE GUERNSEY • SURF TELECOM • SWAG TECHNOLOGIES • SWISSCOM • SWYTCH • SYMSOFT • TAISYS • TAISYS TECHNOLOGIES • TALKTALK • TANGO TELECOM • TATA COMMUNICATIONS
• TDC WHOLESALE • TECH4PURPOSE • TECHNOLOGY SURVEY GROUP • TEL24 • TEL-CONSULT • TELE2 • TELE2 SVERIGE • TELE2 TELECOMMUNICATION • TELECABLE • TELECALL • TELECEL SOUTH AFRICA • TELECOM
ARGENTINA • TELECOMPAPER • TELEDEMA • TELEENA • TELEFONICA • TELEFONICA GERMANY • TELEFONICA GLOBAL ROAMING • TELEFONICA MOVILES • TELEGEOGRAPHY • TELEKOM SLOVENIJE • TELENABLER •
TELENET • TELENOR • TELENOR GLOBAL SERVICES AS • TELENOR GLOBAL WHOLESALE • TELENOR SVERIGE • TELERGYHD & MWARE SOLUTIONS • TELIA CARRIER • TELIASONERA DENMARK • TELKOM KENYA • TELUS
• TESCO MOBILE • TESCO MOBILE IRELAND • TEXTME • TEXTNOW • THE PHONE COOP • TIETO SWEDEN SUPPORT SERVICES • TINKOFF MOBILE • TIRLA CONSULTING • TOP CONNECT OU • TOSEH HAMYAN SHAHR •
TRACE • TRANSATEL • TRAVELSIM AUSTRALIA • TRINITY COLLEGE, UNIVERSITY OF DUBLIN • TUENTI • TUNETALK • TUNISIE TELECOM • TURK TELECOM • TURKCELL • TURKCELL ILETISIM • TVO GROUP • TWEAKKER
• UL TRANSACTION SECURITY • ULTRA MOBILE • UNI-TEL • UROS • UROS UNI-FI ROAMING SOLUTIONS • VECTONE MOBILE • VENTA MOBILE • VIKINGCO POLAND • VIMLA • VIRGIN MOBILE AUSTRALIA • VIRGIN
MOBILE LATIN AMERICA • VIRGIN MOBILE MIDDLE EAST AND AFRICA • VIRGIN MOBILE POLAND • VIVACTION • VODAFONE • VODAFONE ENABLER & SPAIN • VODAFONE FIJI LTD • VODAFONE HUTCHISON • VODAFONE
LIBERTEL • VODAFONE ROAMING SERVICES • VODI • VOVERC • VTB BANK (PJSC) • VTB GROUP • WAVENATION • WESCOM • X-MOBILITY • YOUFONE • YUANTEL • ZETCOM LTD • ZHUHAI XH SMARTCARD
KEEPING YOU UP TO DATE ALL YEAR ROUND
We release global and regional content pieces throughout the year to keep you up to date on the latest market insights.

                                                                                                                                           E-SIM

                                           ROAMING                                                  IOT/E-SIM

                                                                            IOT

NORTH AMERICA                                                                                                                                         APAC
                                                           BREXIT

                                                                                                       ASIA/PACIFIC

LATAM                                                                                                GET IN TOUCH WITH ALEX IF YOU ARE
                                                                                                     INTERESTED IN WORKING WITH US TO PRODUCE
                                                                                                     CONTENT LIKE THIS IN THE FUTURE
                                                                                                     Get in touch with our content marketer,
                                                                                                     Alexsandra Silva, on Alexsandra.Silva@knect365.com
                                      GLOBAL REPORT
                                                                                                     44 (0) 20 7551 9152
                                                                                                     if you’d like to contribute to our blog and submit any newsworthy pieces
SPONSORSHIP AND EXHIBITION PROSPECTUS
PLATINUM SPONSORSHIP                                                                           HOST OPERATOR
 SPEAKING ROLES, EXHIBITION SPACE AND EVENT PRESENCE                                              SPEAKING ROLES, EXHIBITION SPACE AND EVENT PRESENCE
 ■   25 minute Keynote Plenary speaking slot on Day 1*                                            ■   25 minute independent keynote speaking slot on morning of Day 1
 ■   6sqm (3m x 2m) exhibition space – table, two chairs and power provided if required           ■   Chairman Role – whole of Day 2
 ■   Option to moderate one panel from the main event agenda                                      ■   6sqm (3m x 2m) exhibition space in most prominent position or near registration desks
 ■   Company logo to be highlighted on the front cover of any onsite conference material              – table, two chairs and power provided if required
 ■   Company logo and profile (circa 150 words) listed in the onsite guide or event app
                                                                                                  ■   16 full delegate passes for your delegates
 ■   Full page, full colour, corporate advert in any printed event guide or in the dedicated
                                                                                                  ■   Free operator passes for all your MVNOs
     event app
                                                                                                  ■   Company logo and profile (circa 150 words) featured in the Conference
                                                                                                      Brochure as ‘Host Operator’ – above Silver level sponsors
 ■   10 delegate passes for the event and one additional ‘Stand Manager’ pass

 £35,000                                                                                          £22,000

GOLD SPONSORSHIP                                                                               LUNCH SPONSORSHIP
 SPEAKING ROLES, EXHIBITION SPACE AND EVENT PRESENCE                                              EVENT PRESENCE
 ■   20 minute speaking slot on Day 1*                                                            ■   Company logo to be highlighted on the front cover of any onsite conference material
 ■   6sqm (3m x 2m) exhibition space – table, two chairs and power provided if required           ■   Company logo and profile (circa 100 words) listed in the onsite guide or event app
 ■   Company logo to be highlighted on the front cover of any onsite conference material          ■   4 delegate passes for the event
 ■   Company logo and profile (circa 150 words) listed in the onsite guide or event app           ■   Opportunity to distribute printed material, gifts, or promotional items during lunch break
 ■   Full page, full colour, corporate advert in any printed event guide or in the dedicated
     event app
                                                                                                  £18,000
 ■   8 delegate passes for the event and one additional ‘Stand Manager’ pass

 £29,000
                                                                                               TRACK SPONSORSHIP
SILVER SPONSORSHIP                                                                                SPEAKING ROLES, EXHIBITION SPACE AND EVENT PRESENCE
                                                                                                  ■   25 minute speaking slot, timeslot to confirm with Conference Producer*
                                                                                                  ■   Company logo to be highlighted on the front cover of any onsite conference material
 SPEAKING ROLES, EXHIBITION SPACE AND EVENT PRESENCE                                              ■   Company logo and profile (circa 100 words) listed in the onsite guide or event app.
 ■   20 minute speaking slot, timeslot to confirm with Conference Producer*                       ■   4 delegate passes for the event
 ■   6sqm (3m x 2m) exhibition space – table, two chairs and power provided if required
 ■   Company logo to be highlighted on the front cover of any onsite conference material          £15,000
 ■   Company logo and profile (circa 100 words) listed in the onsite guide or event app
 ■   6 delegate passes for the event and one additional ‘Stand Manager’ pass

 £24,000
                                                                                               *All speaking slots and chairing opportunities are subject to approval by KNect365
ASSOCIATE SPONSORSHIP                                                                        EXHIBITOR (POD)
 SPEAKING ROLES, EXHIBITION SPACE AND EVENT PRESENCE                                          EXHIBITION SPACE AND EVENT PRESENCE
 ■   20 minute speaking slot, timeslot to confirm with Conference Producer*                   ■   1m x 2m Exhibition Pod, built and branded for you by KNect365
 ■   6sqm (3m x 2m) exhibition space – table, two chairs and power provided if required       ■   Company logo and profile (circa 50 words) listed in the onsite guide or
 ■   Corporate Logo to be highlighted on the front cover of any onsite conference material        event app.
 ■   Company logo and profile (circa 100 words) listed in the onsite guide or event app.      ■   2 delegate passes for the event
 ■   2 delegate passes for the event
                                                                                              £5,099
 £15,000

LANYARD SPONSORSHIP                                                                          BESPOKE OPPORTUNITIES
 EVENT PRESENCE                                                                               NETWORKING SERVICES
 ■   Lanyards bearing your company logo given out with all delegate badges at the             Extra services to make the most of your time at the event by guaranteeing the meetings
     registration desk.                                                                       that you need.
 ■   Company logo to be highlighted on the front cover of any onsite conference material
 ■   2 delegate passes for the event                                                          VIP Meeting Service: Receive the delegate list in advance of the event, choose your top 15
 ■   Company logo and profile (circa 100 words) listed in the onsite guide or event app.      target delegates and we guarantee you between 5-10 on-site meetings with those targets.

 £14,000                                                                                      Speed Networking: A business card exchange and opportunity to give a 4-5 minute ‘elevator
                                                                                              pitch’ to 10-15 senior executives in the space of approximately one hour.

PANEL SPONSORSHIP                                                                             These are available in addition to any existing sponsorship package

                                                                                              NETWORKING DINNER SPONSOR
 SPEAKING ROLES AND EVENT PRESENCE                                                            Spend the evening networking in a relaxed environment with your choice of target clients.
 ■   A seat on a suitable panel within the main agenda                                        Let us take the work out of inviting guests and planning and running your evening.
 ■   Company logo to be highlighted on the front cover of any onsite conference material
 ■   Company logo and profile (circa 100 words) listed in the onsite guide or event app       NETWORKING DRINKS RECEPTION SPONSOR
 ■   2 delegate passes for the event                                                          Align your brand with the key networking feature of the event! Network and discuss the
 £11,000                                                                                      day’s events and topics with the full delegation in a relaxed environment, with your brand
                                                                                              prominently displayed.

EXHIBITOR
 EXHIBITION SPACE AND EVENT PRESENCE
 ■   6sqm (3m x 2m) exhibition space – table, two chairs and power provided if required
 ■   Company logo and profile (circa 50 words) listed in the onsite guide or event app.
 ■   2 delegate passes for the event

 £8,000
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