Morning, welcome to the Pacific Current Group first half of the 2026 financial year. By way of introduction, my name is Michael, the Pacific Current Group. I joined the board of Pacific Current in February 2024 as a non-executive in July of 2024. I'm joined on the call by Financial Officer of Pacific Current Group. Ron joined Pacific Current over 17 years ago. Also on the call is the recently appointed Chief Operator. In our full year update to shareholders in August last year, we highlighted that PAC was committed to taking you and to report the progress made to achieve this goal. We are gratified to report that the member of the previous financial years 2024 and 2025 has continued into this financial year. If we turn to slide three in the presentation pack, Pacific Current is pleased to update on the company's interim results for the six months ending December 31, 2025, declaring an underlying net profit after tax or NPAT of AUD 6.7 million, down from fifteen point period. NPAT was adversely affected by lower distribution from boutiques and lower interest income after the off-market buyback, but was partially offset by, particularly including debt reduction and corporate cost reduction, and by a less rich cent to AUD 0.22 a share from AUD 0.29 in the previous production in the number of shares on issue. Statutory profit declined by AUD 11.7 million in the period, driven by fair value adjustments. Pacific Current is declaring an interim dividend of AUD 0.20, with a record date of March 5, 2026. This is an increase of 33% on the previous corresponding period for some time. Declaring an increased fully franked dividend continues the capital management initiatives of the past two years, returning surplus capital to shareholders. Implementation of further resulted in a 31% reduction in corporate costs compared to. It's also again worth highlighting that although underlying net profit and earning the number of ordinary shares on issue was significantly reduced following the market share buyback, further enhancing capital efficiency and shareholder value. Because of capital management initiatives, asset sales during the period and fair value estimate of net asset value, value increased to AUD 16.30 2025. This estimate exceeds the statutory net AUD 0.02 per share and compares with a fair value estimate of net asset AUD 0.32 per share on December 31, 2024, 14% from the previous corresponding period. As we'll discuss later in the update, for 14% per annum over the past five years, from AUD 8.40 per share to AUD 16 5%. Turning to activity, it was another busy period for transactioning, significant portfolio transactions completed. With Victory Park Capital, in September 2025, PAC sold a portion of its interest, specifically 2% and 0.8% interest in Victory Park's Holdco, for future carried interest entitlements group for $5.5 million. Reduced in Victory Park, reduced to 9.2% equity, 18.6%, 9% existing current. Repaid the senior debt facility in October 2025. This debt facility, the senior secured debt facility with Washington H. Soul Pattinson, $0.1 million, and the transaction included a $0.8 million early retirement premium and a $0.3 million of interest for October. The facility was settled using the restricted deposit account over which PAC also commenced an on-market share buyback in October, 1 million shares, or 6.8% of issued capital, which were announced and fully funded from existing reserves. The net was appointed as execution-only broker. As at December 31, 2025, PAC had repurchased just under 200,000 shares for around $2. The buyback will commence post the results announcement, subject to board confirmation of material interest. PAC also exited the Janus Henderson 25, selling its entire stake and generating $9.4 million in proceeds. PAC conducted growth capital deployment initiatives, and as of December 2025, PAC facility with an affiliate of Roc Partners, bearing a 10% interest rate and maturing on November 30, 2028. has also completed lending facilities for both Northern Lights Alternative Advisors, an independent line to accelerate the growth trajectory of each business. I'd now like to hand over to Ron. Thank you, Michael. Turning to slide four, underlying results. The first half of business that continues to transition following the significant portfolio realizations of the past. The profit after tax was AUD 6.7 million, down from AUD 15.3 million period, driven by lower distribution, management fees, and interest income. By lower interest expense following the repayment of the debt facility, together with a 31% reduction. With the balance sheet now debt-free, there will be no interest expense six. Despite the decline in net profit after tax, underlying earnings per extent, supported by the materially lower share count for Pacific Current, declared a fully franked training up from up 33% on the prior period. If the balance sheet and our disciplined approach to capital management. Slide five, shareholder value.... As at December 31, statutory NAV was AUD 13.92 per share, whilst and AUD 0.34 per share, a difference of AUD 2.42 per share. The uplift in fair value market gains on financial assets, higher valuations for shares, and the continued impact of portfolio simplification. Fair value now has grown at 14% per annum over the past five years, increased to AUD 16.34 per share. Turning to Cision. Management fee revenues declined due to Carlyle and partial exit from Pennybacker and Victory Park in current period were modest and largely from Roc. Financial asset three revenues in a deferred consideration and dividends from Abacus and Janus Henderson shares. Interest income was lower due to reduced cash balances by net and repayment of options from boutiques and investments were lower, consistent with a portfolio that currently. Turning to slide seven, alternative balance sheet. The alternative balance sheet provides a clearer view of ex-investment exposures. Ex corporate net assets increased to AUD 164 million, up from AUD 144 million at J une 30. This reflects the full repayment of the WHSP, initiated the associated non-current liability, a redact, and continued simplification of the balance sheet. The reduction in fair reflects the partial realization of tax interest in Victory Park and decrease in the fair value of the remaining minority stakes. Final shares and bonds and the Petershill deferred consideration receivable, which remains on track for settlement in May 2026. Turning down. This table shows the movement in book value and fair value across the portfolio. As part of, we undertake a valuation exercise to assess whether and to determine the fair value of financial assets measured at fair value. These valuations are standards and are not intended to represent the precise value as further detail on the valuation approach is provided on page 27. Roc Partners recorded a significant fair value uplift, reflecting stronger growth. We also saw a material uplift, supported by an intrinsic current senior secured loan required, decreased following the partial sale and a softer business outlook. Astarte increased due to successful fundraising and improved carry expectations. Financial effects reflect the sale of Janus Henderson shares and higher values. Corporate AUD 52 million, driven by the sale of Janus Henderson shares and partial sale of interest in the quarter of fair value NAV per share, has increased to AUD 16.34, less than AUD 0.51 at June 30. The significant proportion of this asset base is in cash and financial asset. I hand back to Michael. Thanks, Ron. In the presentation pack, just some more details on the senior loan facility provided by Pacific Current Group. As an example of working closely with boutique partners to accelerate. IFP is a Florida-based Independent Registered Investment Advisor or compliance, infrastructure, technology, and administration specifically for RIAs. At present, they have $16 billion on their platform and are super propelled by positive trends in the private wealth sector. To accelerate future growth initiatives, $25 million debt facility on commercial terms. This will finance existing debt and importantly, provide growth capital to fund advisor book acquisitions packages. Turning to slide 14 in the presentation pack, the financial year, Pacific Current Group management expects to maintain the strong momentum that has been built, focus on executing a clear and disciplined plan. We'll do this by following five key initiatives. The first is accelerating growth by pursuing potential opportunity partners and selectively assessing new investments to drive scalable and sustainable growth, or point is to unlock shareholder value by evaluating targeted capital initiatives aimed at enhancing returns and optimizing. The third key point is controlling operating costs by maintaining disciplined cost management to support margin stability. Fourth dot point is to continue to strengthen the balance sheet by prioritizing balance sheet optimization to enhance financial flexibility. Finally, continuing to enhance organizational efficiency by embedding and refining structural and governance changes financial year to improve agility decision-making across the organization. In conclusion, we would like to thank our employees and the PAC Board, both past and present, for their work to enhance shareholder value. Though strong progress was made in the first half of this year, and we remain relentlessly focused on achieving the best possible outcome for our shareholders in the remainder of the financial year and beyond. We'd now like to answer any questions you may have. If you wish to ask a question, please press star followed by one on your telephone. That is star one if you wish to ask a question. Once again, that is star one if you wish to ask a question. Currently, there are no questions, so I'd like to hand back. Thank you very much for your time this morning. Through, continuing to, work hard on the portfolio and, you know, if, if there are any questions, you know, that come to mind, and we look forward to be able to answer those. Thank you.