Mr. Feargal Ó Brolcháin:

It would depend. In order to remunerate the ESM's investment, there might be a need to take some preference share capital. The ESM will be borrowing this money and then investing it; therefore, it will have its own costs to cover. To cover them on an ongoing basis, it might need to take some preference and some ordinary share capital. It would have to be assessed on a case-by-case basis.