Mr. Michael Murnane:

When I became chairman two years ago I did not spend much time looking back. I sat down with the executive and the board to see where the finances of the company were at, and even though we were committed to a capital programme at that stage, which we have completed, our borrowings have not changed. We have remained at €22.2 million through 2011, 2012 and projected to the end of 2013. As far as I and the board are concerned, I am happy that over the past two years we have managed our finances and have stayed within the plan we set ourselves. As Mr. Neilan, the chief financial officer, stated, the strategic plan is very clear that from the beginning of 2014 we will start paying back the capital.