Mr. Jeremy Masding:

Perhaps if I explain what I think the steps will be, it will help to answer the question. We were in London, New York and Boston on what one calls a "pre-deal rota". In essence, the market is very aware of AIB and Bank of Ireland which engage in a great deal more capital market interaction than us. Our last capital market interaction was under the guise of Irish Life and Permanent. The first stage involved telling our story and introductions. I confirm to the Deputy that deal structures, pricing and shareholdings were not discussed at these meetings. What I am trying to gauge is the level of interest from the capital market community. I do not expect to make a public comment on the shape of the deal until the end of quarter 1 in 2015.