Mr. Jim Nugent:

I dispute that. We are not trying to protect one or two individuals in the organisation. The pension rights of some 70 people had to be protected. In all fairness, that fund was there and could be used for that purpose on a loan basis. It is a loan. Of course the auditors would write it up in the books on the basis that it could be at risk, as would their good practice. There are very few things in life that carry no risk. I am not being in any way disingenuous about it. We have phenomenal staff, of whom we are very proud. They do world-class work and I do not see why we should damage them due to pension fund market fluctuations.