Mr. Ray Hernan:

I have been involved in only one reorganisation before, in my role as CEO and, previously, CFO with Arnotts. The shareholders were two banks, one of which is no longer with us. The essential piece of my plan was, "you are getting no more money". That was the way we had to reorganise. We achieved a turnaround in that organisation of which I am extremely proud. We brought our staff with us and modernised an organisation that needed to be changed. It was successfully sold to a third party. That was private industry. I am not talking about privatisation at all. I am just saying we turned it around, and we did it with the support and engagement of the management and staff as a team.