Mr. John Collison:

I would not have been aware of it. We would have always looked at opportunities as and when they arose. I recall that there was a board away day in February 2014 at which reference was made to accelerating disposals, that is, increasing the momentum in terms of cash generation. I do not think there was any political pressure on us to sell Project Eagle. We were not told that the portfolio had to be disposed of. As far as I am aware, that discussion did not take place. We evaluated the proposal on its own merits. There were certainly political sensitivities, to which our chairman alluded, but section 10 was our overriding objective here. That is evidenced in some of the documentation in terms of our interaction with Lazard. Maximising the return was our number one objective.

Had we not achieved the bid levels we got, in other words, if the bids had come in a lot lower, the board would have had a very difficult decision to make. It may have been that the transaction may not have proceeded. Thankfully, we did exceed the reserve. That would have been a very difficult decision to take at that time.