Mr. John Horgan:

I wish to make one point in relation to pay cuts. I have asked Mr. Quinn if he has any objection to my saying this and he does not. It is that his salary is in the region of 30% less than the salary that was offered to his predecessor when he joined the company. To be clear, his predecessor had his pay cut during his term of office, but Mr. Quinn’s starting salary has been cut again and is now in the region of 30% less than the starting salary that was offered to his predecessor.