Good morning. I'm Kerry Stokes, Chairman of Seven West Media. Welcome to the Annual General Meeting of the company. There is a quorum present, and I'm pleased to declare this meeting open. First, let me introduce to you the members of the board. I'm joined this morning by John Alexander, Teresa Dyson, Colette Garnsey, David Evans, Ryan Stokes, Michael Ziegelaar, James Warburton, the Managing Director and Chief Executive of Seven West Media. Michael Malone is joining us by phone. Also joining us is Warren Coatsworth, our company secretary. Representatives of our auditors, KPMG, are also present at today's meeting. If as a holder of ordinary shares or authorized representative, you would like to ask questions, I will take questions during the course of the meeting which relate to the resolution being put. Questions relating to general business will be taken at the end of the meeting. I would ask you to direct your questions to me. Please wait for a microphone before you speak. Show the red or yellow card you were given when you registered and give your name. I'm delighted to report that Seven West Media has continued to lead the media sector over the past year, and we are well-placed to enjoy another stellar year in 2023 and continued growth beyond. Seven was not only Australia's most watched TV network in 2022 financial year, but has also posted the greatest share of revenue, combining to deliver the group's best result for the past 11- years. Meanwhile, 7plus has now more than 13 million registered users and well-positioned to grow rapidly, thanks to new content deals including the AFL and recently announced NBCUniversal deals. Our newspaper and digital business in Western Australia has produced its best result for five years, now reaching 82% of the state's population. The West Australian's 21 titles across the city and regional areas in Western Australia dominate the market, and the expansion of our digital assets continue to attract a younger audience across the state. Our transition to a comprehensive multi-platform media business is delivering tangible results, with digital expected to generate almost half of our earnings over the next couple of years. The success of 7plus continues to build, with its take-up accelerated by the successful Tokyo Olympics, Commonwealth Games and the Beijing Winter Olympics, as well as the other premier sports productions during the year. As reported in September, we renewed our broadcast and digital rights to Australia's most successful and widely watched sport, the AFL, and hold the rights for another nine years. Digital rights were a key element of the new deal, and we'll see AFL games on 7plus from 2025. While our broadcast of premier sports events, including the AFL, continue to dominate audience, our general entertainment programs and news and public affairs programs also achieved market leadership in 2022. The expansion of our free-to-air coverage was heightened last year with the acquisition and successful integration of the Prime network. This integration provides us with unrivaled audiences in regional areas and allows us to sell fully integrated national advertising packages. Seven is now the only truly national commercial broadcast network, reaching 91% of the Australian population and holding an unmatchable position as the number one network. Meanwhile, our partnerships with Google and Facebook continue to generate new and growing income streams for the group. As a result of gaining access to even bigger audiences, both in Australia and overseas, we continue to urge the new government to retain free carriage of our digital services on every device in the market. The federal government's prioritization of a legislated prominence regime is an extremely important issue. Free TV services bring Australia together. We need to maximize their availability to all Australians, ensure the prominence of Australian television services on smart TVs and other connected devices. It's the most urgent regulatory issue for the television sector right now. We strongly support the Communications Minister's view that regulation is needed. We welcome the federal government's recently announced comprehensive review of the anti-siphoning scheme. Modernizing the scheme is fundamental to ensuring important Australian sport remains free and universally available to all Australians. To achieve this in a modern media environment, the scheme must be extended to subscription streaming service providers. Giving back to the community is an important part of what we do. It was demonstrated recently by Channel Seven Telethon in Western Australia, which raised a record AUD 71.3 million for 97 highly deserving children's charities and organizations. In addition, Channel Seven supported the 2022 Good Friday Appeal to raise AUD 22.3 million to enable The Royal Children's Hospital in Melbourne to provide world-class care to children around Australia. The expansion of our platforms has been in combination with continued prudent financial management, and our debt is now at its lowest level since Seven West Media was formed. We continue to work on carefully managing our operating costs in every part of our organization. In addition, a share buyback commenced during the year. This buyback is up to 10% of the issued capital, as highly earnings accretive. The board reviewed the potential reinstatement of dividends in August, and determined a buyback was the most compelling capital management option available at that time. Having said that, the board and I acknowledge questions received from shareholders on dividends ahead of this meeting. We share the desire of shareholders for a balanced capital management policy as regards to dividends. The board and management have maintained a disciplined focus on strengthening the company's balance sheet and preserving the capacity for investments where growth opportunities arise, such as the Prime transaction. As a consequence, dividends have been suspended for some time. The board will continue to maintain a prudent approach to capital management and will review the potential payment of dividend at each period results, subject to the prevailing market conditions. Lastly, our board composition. After more than nine years on the board, John Alexander has decided he will not stand for re-election at today's meeting. On behalf of all the directors, I would like to thank John for his valuable contribution and his leadership of the Remuneration and Nomination Committee. As part of the process of managing succession and renewal of the board, we'll continue to review the board's composition to ensure it remains appropriate for the operations of the company. On behalf of the board, I thank you, our shareholders, and our staff for your ongoing support of Seven as we chart a new and exciting course in Australia's media sector. I'd now like to welcome James Warburton up to speak to you. Thank you, Chairman. Good morning, everyone, and thank you for joining us today. The past 12- months have seen Seven firmly establish itself as the best performing and fastest growing company in the Australian media sector. The focused and successful execution of our strategy over the past three years with the acquisition of the Prime Media Group assets and the strong growth of 7plus in our digital platform, along, of course, with the outstanding success of our television broadcast business, have made Seven the undisputed leader in the national total television advertising market. That is capital cities, regional broadcast, and BVOD. We have a better business, one that is well-placed to continue our recent growth and to build on our leadership position. Seven reaches more people nationally every single day than any of our competitors. We're number one in audience share, and most importantly, we've converted that to the number one position in revenue share. The West Australian publishing division is a strong business and continues to perform well, driven by management's ongoing execution of a strategy to hold the line on print, reduce costs, and turbocharge its digital and subscription offerings. Our digital businesses, including 7plus, accounted for more than 40% of earnings compared with just 2% four years ago. Across our entire business, we're totally focused on increasing our leadership and ensuring that our position translates into growing revenues, earnings, and shareholder returns. The FY 2022 results we announced in August represented the best Seven television EBITDA result in 11- years, the best EBITDA result from West Australian newspapers in five, and our best group result in six years. Group FY 2022 EBITDA of AUD 342 million was ahead of guidance we gave in early May this year of between AUD 335 million and AUD 340 million. Seven is now the number one network nationally in audience share, and we've converted that, as I said earlier, into the number one position in revenue share. Across the year, we had a 39.1% total television share across metro, regional, and BVOD, and 7plus continued to outperform the BVOD market, growing 57% year-on-year in a market that grew 47%. The strategic Prime transaction created a powerful, unmatched national television, print, and digital company. Seven West Media now reaches 91% of all Australians every month. As stated in FY 2022, we had a 39.1% share of revenue, including the Tokyo Olympics. We're targeting 39% in FY 2023, which will be an underlying improvement as the current financial year excludes the Olympics. For FY 2024, we are targeting a 40% share of revenue. Compared with FY 2022, that represents approximately AUD 30 million -AUD 40 million of revenue upside. Our ambition is to secure an ongoing 40% share of the national total television advertising market. Across FY 2022, Seven was number one nationally in prime time in total people and all key age groups. We were number one in terms of the number of weeks won in prime time. We were number one in the capital cities. We were number one in the regional markets, and 7plus was number one in terms of BVOD minutes. Of course, as I said, we were number one in terms of revenue share. In early September, we announced that Seven had secured the AFL media rights from 2025 - 2031, covering broadcast, and for the first time, very importantly, the digital rights. AFL is a crucial part of Seven's DNA, and it's an important part of our content strategy. Our partnership with the AFL over many decades has helped make it Australia's number one sport, and we're looking forward to building on that partnership with the AFL Commission in the years to come. Securing a comprehensive package of digital rights for the AFL was our absolute focus. For the first time, fans will be able to access the AFL, the best games, and all video content live and free in a way that suits them. Our AFL rights fee will increase 14% in calendar year 2025, and then 2% per year after that. A better way to look at that is it represents a 3.6% annual increase in rights fee over the life of the new agreement compared to the final year of the existing deal. In late October, we announced a multi-year content agreement with NBCUniversal, one of the world's leading entertainment and media companies. The agreement will bring thousands of hours of additional content to Seven and 7plus, creating significant new revenue opportunities. On 15th of January next year, we will launch a new channel, 7Bravo, both on free-to-air and on 7plus. We've secured the rights to all of NBCUniversal's scripted network and cable dramas and comedies for years to come, gained access to library and classic scripted dramas from NBC's catalog, and have become the free-to-air home in Australia of NBCU's library of blockbuster movies. The agreement with NBCUniversal will underpin growth in Seven's broadcast and BVOD revenue share. With launch costs, it's expected to be slightly EBITDA positive in FY 2023, and in future years, we expect this agreement to deliver double-digit EBITDA contributions per annum, subject to advertising market conditions. As our business pivots to growth markets, we've seen a dramatic increase in our digital earnings from AUD 6 million in FY 2018 to AUD 139 million in FY 2022, or roughly 40% of today's group earnings. This is from just 5% of our viewing. While broadcast remains critical and drives the network, new content such as the NBCU deal and the AFL deal from 2025 will continue to drive digital growth. Our 7plus platform has been a key focus in recent years, and it's a remarkable success with more than 13 million registered verified users. Since the acquisition of Prime, 7plus has seen a 60% jump in regional users and a 100% increase in minutes watched in regional markets. The West Australian is one of the strongest and fastest growing news brands in Australia with impressive results across both print and digital. Digital subscriptions and audiences are showing great growth with digital circulation revenue up 43% in FY 2022. One in six West Australians consume the newspaper, which is the highest market penetration of any news brand in the country. On a cross-platform basis that accounts for the newspapers and websites, it's 82% of the state reading The West. Again, that is the highest market penetration of any news brand in the state. The WA retail advertising market was strong in FY 2022, and while some other key categories are yet to return to their pre-pandemic levels, The West's EBITDA in FY 2022 was the best result in five years, growing 73% if you exclude temporary savings. Just a couple of weeks ago, we released our first sustainability report, which you can find on the Seven West Media corporate website. The report outlines for all of our stakeholders, including advertisers, partners, investors, and our employees, what our sustainability approach is, the sustainability activities undertaken, and the positive impact those activities have had on our employees and the communities we operate in. Our sustainability priorities fall into four pillars, representing Australia, opportunities for future generations, uniting people and communities, and environmental awareness. We believe that it is in these four areas that Seven West, as a leading media company, can have the greatest impact and make the most difference. In March this year, Seven West Media became the first media company in Australia to be awarded the Workplace Gender Equality Agency's Employer of Choice for Gender Equality citation. The criteria for these citations is rigorous. We're one of just 12- companies to receive the highly regarded citation this year, recognizing Seven West Media as an employer committed to achieving gender equality in the workplace. Our balance sheet has improved significantly over the past three years, and this strength means our company is well-placed as we head into a period of economy-led uncertainty and provides us the flexibility to respond to the opportunities and challenges that might lie ahead. Net debt at the end of FY 2022 was AUD 256 million or 0.7x net debt to EBITDA and up AUD 16 million in the year, given it includes the AUD 108 million in relation to the Prime acquisition. Given the strength of the company's balance sheet and growing earnings, we announced an on-market buyback of up to 10% of Seven West Media's shares, which has commenced. The three year strategy that started in late 2019 has significantly transformed our company, creating a much simpler, stronger, and more profitable television, digital, and print business. Having successfully delivered this strategy, we now look forward to the next three years where we will continue to build a more diversified media organization. We will remain focused on being audience-led and digital first, powered by data and tech. We'll step up our focus on monetizing total television audiences, that is, across broadcast and digital, including material non-advertising revenue such as subscription revenues. Our low gearing creates capacity for further growth and further capital management initiatives. We will continue to invest in the business and focus on generating strong cash flows while also investing to drive growth across the business and diversify our portfolio of assets. Content that engages Australia and drives audiences is at the heart of all that we do. More people watch Seven than any other network, and we believe that with next year's powerful lineup of content across the screens of Seven, we will continue to grow our share of audience and underpin further revenue growth for Seven West Media. Turning to our trading update, which is based on year-to-date performance and current forward visibility. As flagged at the FY 2022 financial results announcement in August, the Olympics and FY 2022 have impacted relative trading conditions in the first half of FY 2023. For the first quarter, Seven secured the number one national total television share of 40.2% in a market that was down 6%. For the second quarter, we currently expect Seven to increase its total television share year-on-year in a relatively flat market. Overall, therefore, for the first half, Seven's total television revenue is expected to decline 8% or 2% adjusting for the Olympics impact. Including the recently announced NBCUniversal deal and related costs, FY 2023 costs are expected to be between AUD 1.225 billion and AUD 1.25 billion. Incremental revenue should offset related costs on the new deal. In conclusion, I'd like to thank you, our shareholders, and all of our staff for your ongoing support. Our company is growing and leading the market in terms of content, audience delivery, and innovation. We're giving the Australians the content they want, delivered how they wanna receive it, and we are working closely with our advertising clients to deliver great results and new market-leading innovations. The year ahead will of course present challenges, but I'm confident that Seven West Media is in great shape to achieve great results for all of our stakeholders. Before I hand back to the Chairman for the formal items on today's agenda, please enjoy a reel that highlights one of Seven West Media's undisputed strengths, our market-leading news and public affairs national offering. Thank you. I know. Sarah, Sarah, you still made for the meeting today. Hey, I need those images as soon as you can. Queen since that. There should be some notice as well for two clips of that one. Five, four- No worries. Three, two, one. Tonight, we begin with breaking news. The situation's so dark. Emergency services report Chris Dawson has been found guilty. The last in a day of frantic rescues. It's a It's a remarkable moment. 7NEWS is the nation's most trusted news service, and Australians know it. Stand by. We're going live in a second. How could we say that? Well, every night, millions of Australians make a decision about which news to watch. Gents, some important names on that list. The choice is clear. More Australians get their news from Seven. A lot more. In fact, 300,000 more every night at 6:00 P.M. 7NEWS reaches 1.7 million of you every night. It's you deciding it's the news you trust. It's you who makes 7NEWS Australia's number one. Have you seen the risk assessment? No, not yet. Ever in living memory has it been quite like this. We've lost heaps except for what we've got on our backs and in our hands. Volunteers have answered the call. It's extraordinary. I've never seen anything like it. I said, "What's your name?" She looked up to me and she said, "My name's Cleo. When there's major news, like the Queen's passing. One final farewell to the monarch. Australians turn to Seven in record numbers. With 7NEWS, you'll know first, and there's good reason why. With 65 newsrooms. Spanning the width and length of the nation, we're closer to where news is happening. We're gonna go into safety now. We're there first. This is how much it's risen. When news breaks, we'll take you to the heart of it. Welfare of 6,000 people is simply unknown. Often, the only Australian TV news on the front line. Another missile strike flew straight over us. Thousands here today believe this is the only way. We're going backwards. They're throwing flash grenades right now. They got me in the arm. We need to get back to the car. Go, go, go. go, go. Whoa. Whoa. The threat of criminal charges. We're live for 55 different news bulletins every day. That's 5,500 hours of news just this year. It's a big number, but how big? It's the equivalent of our coverage of eight entire AFL seasons. We're not stopping there. We're now building the most advanced news facility in the country. 7NEWS is unsurpassed. You have an opportunity to make a difference, and that's an incredible privilege. Our leadership, undisputed. President Zelenskyy, Chris Reason from Channel Seven Australia. What hasn't changed is what has always been there. Two, one. Preparing for his evening weather report when he heard screams. We thought that he was dead, you know? There's a life out there to be saved, you go and do it. We'll bring you the news. We'll take some time to explain it. We'll make you part of the conversation. We'll question what's going on. We won't stop investigating until we get you answers. We'll make sure it's at your fingertips when you need it. When news breaks. Wherever you are. Wherever you are. Wherever you are. Right across Australia. We'll bring you the news. It's why millions of Australians rely every day on 7NEWS. 7NEWS. 7NEWS. 7NEWS. 7NEWS. 7NEWS. 7 News. 7 News. As soon as we know, millions of Australians know the news. Thank you, James. We have every reason to be proud of our news and what we've achieved. Not just what you saw in that reel now, but in all the regional services we've developed over the last few years throughout regional Australia. We are the only network who cares truly about the whole Australian content, and that includes major country towns where our news is the only news available. We'll now attend to the business of today's meeting. The notice convening the meeting has been in your hands for some time. I'll take the notice as read, unless there is an objection. As Chairman, I propose to cast all available undirected proxies in favor of each resolution. As you will see from the screen displays, a significant number of our shareholders vote by proxy. Before each resolution is put to the meeting, we'll display on the screen the count of proxies as directed by the proxy form. Accordingly, in my capacity as chairman, in accordance with the Constitution, I demand that a poll be taken on items two to eight. These items will be put to a poll at the end of the meeting. Item one. The first item of business is to lay before the meeting financial statements and reports of the directors and auditors for the year ended 25th of June, 2022. There is no requirement for a formal resolution on this item, so this item is excluded from the proxy and will not be voted on. Are there any questions on this item? Are there any questions for the company's auditor on the company's financial statements for the year ended 25th of June, 2022? Thank you. The next two items of business relate to the reelection of directors. No nominations were received from other persons. The first director standing for reelection is Colette Garnsey, who is retiring and, being eligible, offers herself for reelection. Ms. Garnsey's skills and experience, particularly in relation to consumer-facing companies and organizations, are valuable to the board as it seeks to maximize the value and strategic position of the company's consumer and advertising-oriented brands and content. Ms. Garnsey is a member of the Remuneration & Nomination Committee. Are there any questions on this matter? The proxies lodged for this resolution appear on the screen. Yes. Proxy. My name is Gavin McClune. Could Colette please comment on who made the decision not to offer shareholders a full hybrid AGM with online participation through questions and voting? She's a director at Magellan Financial Group, which had a hybrid AGM last month. Why isn't Seven West Media doing the same? Noting that Nine Entertainment is doing the same this morning. Why would you put that to Ms. Garnsey? She's a member of the board. She has influence over the company. I'm just wondering if she's considering her other company that she's a director of does the same. The question rightfully should have been directed to me, I think. I did direct it to you. I said, "Could Colette? Sorry? I directed it as regarding this item. Which is Colette's. I'll let Colette answer that. Thank you, Chairman, and thank you for the question. These matters are a matter for the entire board to do to discuss and make a decision on. Each director brings an independent mind to that discussion. Those discussions are held in camera within the board meeting. They bring their experience from other companies, and then a determination is typically made for what suits best the particular company in discussion. Thank you very much. Thank you. As directed, a poll will be taken on this resolution at the end of the meeting. The second director standing for reelection is Ryan Stokes, who is retiring and being eligible, offers himself for reelection. Mr. Stokes brings a deep understanding of media industry and considerable management experience to the board, having fulfilled the executive and director roles within the company as predecessor entities for more than 20- years. Mr. Stokes' operational and strategic insights are particularly beneficial to board and management, as are his expertise in investment, risk, people management, and executive leadership. He is also a member of the Remuneration Committee. Are there any questions on this matter? I think you should be asked questions. Happy to answer. Thank you. As directed, a poll will be taken on this resolution at the end of the meeting. The next item of business, item four, is to adopt the remuneration report for the company for the financial year ended 25th of June, 2022. 2022 financial year was another exceptional year for Seven West Media with strong financial results. The company underlying EBIT result exceeded the 100% target set by the board at the commencement of 2022, and the STI gateway opened fully. 50% of the STI award outcome is delivered as cash and 50% as shares, which is subject to a 12-month deferral period. The board believes the STI outcomes for the executives this year are fair and appropriate and reflect the strong performance against both financial and non-financial performance measures during the financial year. 2020 LTI award reached the end of its three-year performance period on the 30th of June, 2022. The award was tested and did not meet the performance hurdle. Therefore, it did not vest and all the 2020 LTI awards were forfeited. Directors of the company, its other key management personnel or their respective closely related cannot vote in relation to this item, except as proxy in limited circumstance. Subject to the conduct of the poll, approximately 8% of the shares on issue have been voted against the Remuneration Committee. Given the structure of the company's shareholding, this relatively low level of overall vote against the Remuneration Committee will nonetheless constitute a first strike on the remuneration report this year. The board will continue to review the company's remuneration framework to ensure it serves to attract and retain exceptional talent and meets shareholders' expectations. I welcome discussion or questions on the remuneration report for the year under review. If there are any questions on this item. I believe you may have already addressed this, but the board appears to have miscalculated the CEO's LTI grant, and after this was pointed out by a proxy advisory firm, Ownership Matters, the company made a correction that the ASX published last week. Could the outgoing chairman of our Remuneration Committee, John Alexander, please explain what went wrong and who is being held accountable for this blunder? Are the shares going to be canceled, and how do we plan on unscrambling this? John? I'm happy to. Unfortunately, we relied on an outside independent consultant to verify the calculations. Yes. Unfortunately, a mistake. A mistake discovered. Are there any other questions on this item? I've been asked to advise you that the vote on this resolution is advisory only, and does not bind the directors of the company. Are there any other questions then? Thank you. I'll direct the poll be taken on this resolution at the end of the meeting. Item five. The next item of business relates to the performance rights for the MD and CEO as the third component under the company's FY 2023 STI plan. The performance rights set out in the notice of meeting represent Mr. Warburton's maximum STI award opportunity. However, the final vesting outcome will be based on performance against the performance hurdles set by the board. It is currently intended that shares will be acquired on market to satisfy any performance rights at best. However, approval is being sought under ASX Listing Rule 10.14 to provide flexibility for the company to satisfy performance rights under the plan with new shares, if that is considered appropriate in the future. Are there any questions on this matter? Proxies for this lodged on this resolution appear on the screen. Thank you. A poll will be taken at the end of the meeting. The next item of business six relates to the grant of performance rights to the MD and CEO being made as part of the 2023 LTI offer under the company's LTI plan. The performance period for Mr. Warburton's performance rights under the 2023 LTI grant is three years, commencing from July 1, 2022, and ending June 30, 2025. Any shares allocated on vesting will be subject to an additional 12- months holding lock. Under ASX Listing Rules, shareholder approval is required in order for a director to be issued new securities under an employee incentive scheme. It is currently intended that shares will be acquired on market to satisfy any performance rights at least. However, approval is being sought for the FY 2023 LTI grant to Mr. Warburton to provide flexibility for the company to satisfy those rights under the LTI plan with new shares if it is required. Are there any questions with regard to this matter? The proxies for this resolution appear on the screen. Thank you. As I have directed, a poll will be taken on this resolution at the end of the meeting. Item Seven. The next item of business, item Seven, relates to the proposed approval of the NED equity plan on the terms as set out in the notice of meeting. The NED equity plan allows non-executive directors to salary sacrifice up to 50% of their annual director's fees into share rights to support non-executive directors to build their shareholding in the company in order to enhance and align their interests between the non-executive directors and shareholders generally. The company's intended source of shares allocated on vesting of the share rights through on-market purchases was excluded from the operation of the ASX Listing Rule 10.14. The board is nonetheless seeking shareholder approval under ASX Listing Rule 10.14 in the interest of good corporate governance and in case it is ultimately considered to be in the company's best interest to issue new shares rather than source on market. Are there any questions on this matter? The proxies lodged for this resolution appear on the screen. Thank you. As I have directed, a poll will be taken on this resolution at the end of the meeting. Item eight relates to the approval of financial assistance of certain Prime entities in relation to the acquisition of Prime on the terms set out in the notice of meeting. Are there any questions on this matter? The proxies lodged on this resolution appear on the screen. Thank you. As I've directed, a poll will be taken on this resolution at the end of the meeting. Before we come to the end of the meeting and take a poll on items two to eight, I'd like to open the meeting to general questions from holders of ordinary shares. Go to the nearest microphone, show your red card, and give your name. I'll accept any questions you may have. Just a few general questions if we have the time. The first regard is related to the Ben Roberts-Smith matter. How much time and money has the company put into the Ben Roberts-Smith matter, and what is his current employment status with the company? Also, could the legal chief, Bruce McWilliam, or anyone else, comment on why he's been attending court so often if the company is not funding the case? First question, the company's put no money into Ben Roberts-Smith, but I'll let Mr. McWilliam make out an answer why he attends court. Thank you, Chairman. Obviously, it's not a straightforward answer. It's extremely negative for Ben Roberts-Smith. People like to be able to ask us about this. In response to your question, if we were to say, "Oh, sorry, I don't know." Yes, we do attend. It doesn't take much time. Most of the hearings, because of the COVID protocols, were held via Zoom. We also have news reporting on the case, so we also get legal questions as to what can be said and what can't be said, because it's not clear because a lot of the evidence was held in closed court and couldn't be divulged. Thanks for your question, but I'm not sure that it's a very controversial thing that someone from the company went to listen to the hearing. All right. Thank you very much. My second question, you have mentioned yourself, as well as James Warburton, that Warburton also mentioned that AFL is part of the company's DNA and sport is very important for the company. Given that, thousands of young cricketers across Australia rely on television broadcast rights payments to participate in the game, why are we, the company, suing Cricket Australia? And what do we say to critics who believe that this action is damaging our reputation as a trusted partner of Australian sports? Are you from Cricket Australia? No, I'm not, sir. You're certainly talking their book. The facts are they're being sued at the moment by Seven for misrepresentation. They promised a certain quality of games in the Big Bash, and they failed to deliver that. We didn't think Afghanistan was a suitable alternative to one of the main sub-continent countries as a test. Our issues with Cricket Australia go to quality of offering as against the quality we paid for. All right. Wonderful. Thank you very much, Kerry Stokes. Thank you. Anyone else have any questions? I didn't mean to be too tough on you. It was a good question. Thank you. Thank you. The poll will now be taken on items two through eight. To vote, please use your red card which you received on registration. Stacey Spence from our share registry, Boardroom Limited, has been appointed Returning Officer and will conduct the poll after voting is closed. The results of the poll will be announced on the ASX later today. This concludes the business. I now declare the meeting closed for all purposes, subject to the conduct and conclusion of the poll. Thank you for taking the trouble to attend the annual general meeting today.