Good morning, everyone, and welcome to the BLIS Technologies Ltd A nnual Shareholder Meeting for 2026. My name is Alison Stewart, and I am the Chair for BLIS Technologies. On behalf of my fellow directors, our Chief Executive, Scott Johnson, and all of the BLIS team, it is my pleasure to welcome you all here today in person and to those of you attending online. This is my first annual shareholder meeting as chair, having taken on the role in October 2025. I would like to acknowledge Geoff Plunket, who is here with us today, who stood down as chair last October after just over four years in the role, and who retired from the board in March 2026 after eight years of service. Geoff's leadership was instrumental in advancing BLIS's strategic growth and strengthening our governance, and on behalf of the board and the wider BLIS team, I thank him sincerely. Thank you, Geoff. Questions and voting process. Today, we are providing both an in-person and online attendance option for shareholders. It is pleasing once again to have so many shareholders join us online and to see many of you in person. When it comes to voting for our shareholders in attendance, you may vote as usual on the voting card provided to you at the registration desk when you arrived. For shareholders online, you will be able to cast your vote online by pressing the Get A Voting Card button and validating yourself using your shareholder or proxy number. Please note that only shareholders, proxy holders, or shareholder company representatives may vote. Please refer to the virtual meeting online portal guide or contact the team at MUFG Corporate Markets on 0800 200 220 if you require any assistance. Shareholders online will also be able to ask questions by clicking the Ask a Question button. I encourage shareholders who have questions to send their questions through as soon as possible. I am pleased to say that the meeting has been properly called, and there is a quorum present. We will be using slides during the meeting. For those of you online, you will be able to see these and follow along. They have also been posted to the NZX and are available on the BLIS website. The agenda for this morning will include a brief overview from myself of the company's performance for the year to 31 March 2026. Scott Johnson, our CEO, will then provide you with a deeper review of the results and progress against our strategic plan. There will then be an opportunity for shareholders to ask questions. We will first take questions from those in attendance and then any questions posted online that have not already been covered by responses to previous questions. Following this, we will then move to the formal business of the meeting. At that point, I will outline the process for the discussion and voting on the three resolutions set out in the agenda. At the meeting's conclusion, for those of you who are with us, we would be delighted for you to join us for light refreshments and further discussions. Before reviewing the company's performance, I would like to introduce our board. Their profiles are available on the BLIS Technologies website and are also included with the annual report. Myself, Alison Stewart, I joined the board in September 2018 and became Chair in October 2025. I bring experience in research development and innovation in the international biotechnology industry. Aimee McCammon, who unfortunately isn't with us, she's online, recovering from a bad flu bug. She was appointed to the board in October 2021 and is Managing Director of Pic's Peanut Butter based in Nelson, with a background in advertising, marketing, and governance. Dr. Barry Richardson joined the board in 2018. Barry has a science background and brings both BLIS-specific and international biotechnology and nutritional dairy industry experience to the board. Paul Munro was appointed to the board in March 2026 and is currently Chair of the Audit and Risk Committee. Paul brings extensive financial, commercial, and governance experience, including his prior role with Deloitte as a Corporate Finance Partner and CEO of Christchurch City Holdings Limited, and his current directorships of Scales Corporation Limited, New Zealand King Salmon Investments Limited, Orion New Zealand Limited, and Tait International Limited. Paul is standing for election today under Resolution 1. Anita Johansen joined the board in January 2024. She is currently VP of Global Innovation for Symrise Care & Wellness and was previously CEO of Probi AB. Anita's online also. Anita has a background in pharmaceuticals and has held leadership positions in various global consumer healthcare companies and is a board member of both the International Scientific Association for Probiotics and Prebiotics and IPA Europe. It is pleasing to report that BLIS had strong revenue and underlying earnings growth for the year ended 31 March 2026. Revenue for the year was NZD 14.7 million, a 16% increase on the prior year. Underlying EBITDA was NZD 1.8 million, up 83%, and underlying net profit after tax was NZD 1.6 million, up 90%. These underlying results adjust for a one-off supply chain cost increase of NZD 0.9 million incurred during the year. On a reported basis, EBITDA was NZD 0.9 million compared to NZD 1 million in FY 2025, and net profit after tax was NZD 0.7 million compared to NZD 0.8 million in FY 2025. The financial year was marked by disciplined commercial execution, meaningful progress on key strategic partnerships, and the resolution of the significant intellectual property matter that had carried over from FY 2025. Revenue growth was underpinned by strong growth across our B2B ingredient and private label revenues, together with continued B2C momentum, particularly in the New Zealand wholesale channel. BLIS continues to be in a strong financial position, with cash and short-term deposits of NZD 8.5 million at 31 March 2026. This is down from NZD 9.7 million in FY 2025, reflecting an investment in inventory during the period. Management is currently refreshing the company's long-term growth plan and capital requirements for presentation to the board in December. Following the board's consideration, we expect to update shareholders on this plan. While these long-term capital requirements are yet to be confirmed, the directors have agreed not to propose a distribution. In reviewing the capital structure of the company, the directors announced yesterday to invoke the minimum shareholding provisions set out in the NZX Listing Rules and the company's constitution. BLIS recognizes that it's difficult for some shareholders to sell small parcels of shares because the cost of brokerage can be disproportionately high relative to the value of their shareholding. Maintaining a large number of small shareholdings also involves ongoing registry and administration costs for BLIS. The board considers that the implementation of a minimum holding requirement will assist BLIS to maintain an efficient share register. Thank you for your attention. I'd now like to hand over to our CEO, Scott Johnson. Thank you, Alison. Good morning, everyone, and thank you for joining us today, whether it be here in the room or online. On behalf of the leadership team, I would like to thank all of our shareholders for your continued support of BLIS. FY 2026 was an important year for the business. It was a year where we demonstrated that BLIS can continue to grow while remaining disciplined in how we operate. Although our reported earnings were impacted by a significant one-off increase in supply chain costs, the underlying performance of the business strengthened materially. During the year, we grew revenue by 16%, strengthened profitability on an underlying basis, expanded our intellectual property portfolio, progressed our China regulatory program, further strengthened our partnership with Probi AB, and finished the year with a strong balance sheet. Just as importantly, we continued investing in the long-term capabilities that will support future growth. Today, I would like to take you beyond the headline result and explain what is happening inside BLIS, where we are seeing the growth, and how we are continuing to build a stronger and more scalable business. Before discussing the business in more detail, I would like to introduce the BLIS leadership team who are here today representing all areas of the business. Down the back, we have Richard Wingham, Chief Financial Officer. Thanks, Richard. Online, we have Jen Walker, who is, well, essentially visiting customers in South Korea. So she is available for questions as well, believe it or not, based on modern technology. Dr. John Hale, our Chief Technology Officer. Ash Childs, who is Head of People, Culture, and Project Management Office. And last but not least, Melissa Drysdale, Head of Quality. Together, they bring expertise across science, commercial, finance, operations, quality, and people. Every result we are discussing today reflects the work of this team and the wider BLIS organization. I would like to thank them and all of the team, the BLIS team, for their commitment throughout FY 2026. Before discussing our own performance, it is useful to step back and consider the market we operate in. The global probiotic dietary supplement market continues to experience strong structural growth. Consumers are increasingly focused on preventative health, microbiome science, and clinically supported products. Trends that align directly with BLIS strengths. The market is estimated at NZD 14 billion in 2026 and is projected to reach more than NZD 24 billion by 2031. Asia Pacific remains the largest regional market, followed by North America and Europe. BLIS already has commercial positions and established partners across all those three regions. Our opportunity is not simply to participate in the growing category, it is to convert our science, our intellectual property, and partnerships into sustainable commercial growth. Turning now to our financial performance. As Alison has outlined, FY 2026 represented another year of strong revenue growth, with revenue increasing 16% to NZD 14.7 million. Underlying EBITDA increased 83% to NZD 1.8 million, and underlying net profit after tax increased 90% to NZD 1.6 million. These underlying measures adjust for the one-off NZD 900,000 increase in supply chain costs and provide a clearer view of the operating performance of the business. We also finished the year with cash and deposits, as Alison also outlined, of NZD 8.5 million. That balance sheet strength gives us flexibility to continue investing in science, product development, strategic partnerships, and the capabilities required for future growth. For me, the important point is that underlying business strength was continued, and we continue to invest in the future. This slide provides more insight into the quality of that performance. Revenue is becoming increasingly diversified across both geography and channels. EMEA, Europe, Middle East, Africa, but more about Europe, represented 31% of FY 2026 revenue. New Zealand, 30%, Asia Pacific, excluding New Zealand, 24%, and North America, 15%. Our channel mix also continued to move towards B2B, which represented 68% of revenue in FY 2026, with B2C at 32%. Operating cash flow reflects a deliberate investment in inventory to protect continuity of supply following the one-off ingredient price increase. Beyond the financial metrics, we continued investing in the foundations of the business. During the year, our science team contributed to 20 publications relating to our strains, attended or presented at 17 conferences, and we secured two new patents. Our China regulatory program also continued to advance. These are important investments because they strengthen the science, the IP, and market access that underpin BLIS's long-term competitive position. B2B remains the largest part of our business and was the primary driver of growth in FY 2026. B2B revenue, business-to-business revenue, increased 22% to NZD 9.9 million and now represents around 68% of total company revenue, as I alluded to in the previous slide. Ingredient revenue was NZD 7.3 million, up 17%, supported by strong EMEA orders, new customer launches, and the establishment of a new South Korean customer. Royalty revenue increased 17% to NZD 1.3 million, while private label revenue increased 67% to NZD 1.3 million, led by growth from our Chinese partner into the offline professional health market. What is encouraging here is that the growth is not dependent on a single customer, market, or revenue stream. We are increasingly building multiple sources of commercial growth around our core science and strains. Turning to our consumer business. B2C complements our B2B strategy by building the BLIS brand, creating direct consumer engagement, and providing valuable consumer insights that can also support our wider commercial proposition. They are complementary. B2C revenue was NZD 4.8 million. New Zealand wholesale was a standout performer, growing 20% with strong product ranging and an increasing focus on dental products. Amazon U.S.A. continued to grow despite tariffs, and our BLIS web store also grew. China cross-border e-commerce reduced following a deliberate pricing reset and the managed exit of the smaller daigou operators as part of an evolving China strategy, China ecosystem we are managing. We are focused on building a healthier and more sustainable consumer business rather than pursuing revenue at any cost. One of the important achievements of FY 2026 was strengthening the foundations of the business. We resolved the intellectual property matter with Bluestone Pharma and Lactosan, with the relevant patent applications now jointly owned, and secured a five-year extension to the existing BSP supply agreement. We also secured two new patents covering antiviral applications of BLIS K12 and BLIS M18, and enhanced formulations combining our probiotic strains with specific prebiotic sugars. Our China regulatory pathway continued to advance with the key clinical trial underway, and we expanded our agreement with Probi AB across the U.S.A., Canada, and certain EMEA markets, Europe, Middle East, Africa markets, as well as into the adjacency of pet nutrition, which we talked about earlier. Collectively, these developments strengthen BLIS's competitive position and create additional pathways for future commercial growth. Our priorities remain clear and consistent. We continue to focus on our core strains, BLIS K12 and BLIS M18, deepen our partnerships with Probi AB, progress the China regulatory pathway, and invest in research, innovation, and the BLIS brand. What I hope you can see from the progress we've made is that BLIS is becoming stronger and more scalable. We are building more routes to market, deeper global partnerships, a stronger technology and IP base, greater supply chain resilience, and a brand that can support both our B2B business and our consumer business. Those are the building blocks that we believe can support the next stage of BLIS's growth. Our strategic plan, which you see here, provides the framework for how we'll build that business. Our purpose remains being the best at developing probiotic solutions for the health and well-being of global customers, and our vision is to be recognized globally as the preferred partner and leader in oral probiotic innovation. We deliver on this by creating technology blocks, growing global partnerships, and building the BLIS brand, underpinned by the right people, secure supply, and quality process and systems. These are not separate initiatives. They're interconnected capabilities that allow us to turn our service, our science into sustainable commercial growth at greater scale. Our values, our mana, customer first, make it happen, and one team continue to guide us in terms of how we work and how we build the company. Strong and sustainable businesses are built on strong cultures. During FY 2026, we progressed our B Corp assessment, maintained our My Green Lab Green Certification, continued investing in leadership capability through our Leading at BLIS program, and remarkably, in this day and age, achieved seven years without a lost time injury. We also completed a full external health and safety audit with all recommended actions addressed. We're also very proud to be shortlisted for the 2026 Best Places to Work Awards, and to win the Forbes Packaging Marketing Award for our BLIS M18 campaign at the Natural Health Products NZ Industry Awards. External recognition of both the strength of our culture and the quality of our work. I'd like to thank every member of the BLIS team for their contribution to these outcomes and for helping create a culture we're very proud of. Supply chain. The one-off raw ingredient price increase reduced reported earnings during FY 2026, but securing continuity of supply was the right decision for the business and for our customers. Management responded by increasing inventory and progressing work with an additional fermentation partner to strengthen long-term supply resilience. Combined with the extended Bluestone Pharma GmbH supply agreement, these actions broaden our supply options and leave BLIS in a stronger operational position. As the business grows, secure and scalable supply becomes increasingly important, and this remains a key area of focus. I'll finish by looking briefly at FY 2027. For the quarter ended 30th of June 2026, BLIS reported unaudited revenue of NZD 5.1 million and EBITDA of NZD 1.1 million. Looking ahead, we remain focused on accelerating growth in key markets through the right partners, advancing research and development and IP protection, investing in the BLIS brand, strengthening our operating capabilities, and maintaining financial discipline. Our expectation remains for FY 2027 revenue growth of between 10%-15%. We enter FY 2027 with confidence. Demand for science-backed oral probiotics continues to grow, and BLIS is well-placed to benefit from that growth. FY 2026 demonstrated that the underlying business is strengthening. We have more routes to market, stronger partnerships, an expanding science and IP base, and a strong balance sheet from which to invest. Our focus now is on converting those foundations into sustainable, profitable growth and continue to build a larger, more scalable BLIS. Finally, I'd like to thank our employees, customers, commercial partners, and you as our shareholders for your continued support. FY 2026 was a strong step forward for BLIS, and we look forward to updating on our continued progress through FY 2027. Thank you very much. Now, we have an opportunity to take questions on the company's financial statements and reports for the year ended 31 March 2026, and the presentations that you've heard from myself and Scott. Before asking your question, could you state your name and if you're a shareholder, proxy holder, or shareholder representative. Thank you. Yes. Do I wait for a mic, or not? No, it should catch you if you just speak loudly. Thanks. Danny Hawkins, shareholder. Obviously, the last quarter, well, this year's quarter result, was substantially higher, but effectively there was a warning not to extrapolate. Just wondered if you could talk to that a bit. Scott. Sure. Good question. Yes, we just wanted to ensure people didn't multiply that by four. You heard in my presentation that B2B revenue is 68% of our mix, channel mix, and B2B by its very nature is quite lumpy. So, there was some phasing that fell favorably for quarter one, that was offsetting out to quarter two. So we look forward to giving you an update on how we're progressing at half year. I suppose the key thing is we're still projecting that double-digit growth 10%-15%. I think the key point is, underlying the strength of the business underneath that lumpiness in B2B is still projecting growth, double-digit growth, for this year and for the foreseeable future. So, the underlying platform for the business is fundamentally strong. We just don't want people to extrapolate out that first quarter because of the lumpiness of B2B. Brent Bishop, shareholder. First of all, apologies for being late. I'm not sure whether you spoke about the shareholder buyback. Have you spoken about that? It was mentioned, yes, in my commentary. With the email, there seemed to be a lot of encouragement to buy back the shareholders. I totally appreciate the fact that minimum numbers is a cost. It is a cost to you. There seems to be encouragement to buy back, but no encouragement to actually top up your shares. Like, encouragement to buy back in the form of you pay the brokerage fees and all that sort of thing, and then pay out. But if you are a shareholder and you want to top up, there is no encouragement at all. You have to go to a broker, and you have to top up and do it through that process. What is your comment about that? I do not think there was any intention to suggest that we were pushing one over the other. We were just indicating they were the options. We would love it if people wanted to buy more shares. Well, if you could encourage them a bit more, if that is your wish. Well, we will absolutely take that on board. Thank you. Richard, are you going to read out this online one? I can read it, and it's along the same lines. We have a question that's been posed by the New Zealand Shareholders' Association representing- Can you just speak up a little bit? We have a question asked on behalf of the New Zealand Shareholders' Association, and they are representing the 11th largest shareholding in BLIS, so a large chunk of small shareholders. Their comments are, the balance sheet shows approximately NZD 8.5 million in cash. You have been carrying cash for the last couple of years. In the past, you said it is for marketing, but you can do a lot of marketing for that. Now, it would seem from the recent board decision announced yesterday to force buyback shares for shareholders under a certain shareholding threshold, you are not going to put the spare cash to work, and in fact, you are using it to reduce small shareholders' returns. This is not really a return in long term for shareholders who have bought into the company when it was listed at NZD 0.10 and then NZD 1.05 when it entered the main NZX board. This seems a poor return for shareholder investment, seeing during that period there were no real return in the form of dividends. Now, you are going to force to sell their shares at what is a rotten share price. So maybe adding to what Alison has talked to already. In terms of the cash, Alison did point to the fact that the management team is working through a longer-term capital plan to see what the capital requirements for the business are. So there is investment needs around scientific capability, around how we deal with manufacturing. There is a significant amount of work around regulatory and clinical evidence base. So there are plans being developed to utilize the NZD 8.5 million. Then in terms of small shareholders, I acknowledge the comment around trying to buy more shares. There are other options that small shareholders can address around transfer of their holding to other platforms. So that is maybe something that they may want to look to. There are platforms that can manage looking after smaller shareholders. It is a major administrative burden when they are on the actual register for a listed company. So, I would encourage shareholders to look at the transfer option as well as, if they want to purchase shares online. I think the key thing is that the purchase buyback is not going to be a substantive amount of money. It's not going to be close to the NZD 8.5 million that we've got in reserves, and that is very much focused on driving future growth. A question from Hemant Lad. Despite producing better business performance and results, BLIS's share price remains suppressed and depressed. As a long-term shareholder, 10 years, this gives me very little faith in BLIS. When is this likely to turn around and actually reward some of us long-term shareholders? Scott. I've got an opinion on this, but I will let Scott say. Look, as a leadership team, all we can do is execute the strategic plan which we've outlined, which will point to repeatability and scalability in terms of our value proposition and taking it beyond New Zealand shores and scaling it up in larger geographies. Our execution of that is fundamental. We will control what we can control. The market will do what it will do and judge us by our results and how we deliver that and the story we're telling about our future and how we're going to realize the potential of BLIS. I can only comment on what we're doing and what we're executing as a plan. The market will form a view of that in terms of repeatability and scalability. I can't talk to how the market judges us on that. We have a question from Chris Steptoe. In the short term, FY 2028, are you expecting profits to fall as you invest the cash balance for future growth? Scott. From a board perspective, the board obviously will judge us based on looking at the criteria around our liquidity, our working capital requirements, what we need to invest in terms of behind our strategic plan, and then obviously a view on contingencies. So, with regards to what we are looking to do with delivering our profit, we will be taking all those factors into account, and ultimately the board will make that call, in terms of what we are looking to invest in. You see the mix is favored even more so now towards B2B versus B2C. They are very complementary as channels as we articulated. In terms of profitability, B2B is a very profitable channel relative to B2C. We will continue to make decisions that look at that mix and margin. Based on what we have just talked to with regards to where our future growth is coming from, we are projecting to continue that trajectory of a strong platform for growth for the future. I can probably add to Scott's comments and the point that some of the investment for the growth, some of it may be expensed and hit the P&L as we expend it, and then some of that investment could end up being capitalized. So, it will be a mix of both. The quantum at this stage, we do not know. It depends on what the nature of the expenditure is, but there could be a profit impact in terms of the investment, but the business, if that is the case, will continue to clearly communicate what the underlying profitability is and where we have chosen to invest, where it is impacting on profitability. A question from John Richard Prosser. What work still has to be done re China approvals and what is the timeline for this? John's team are pursuing regulatory approvals. As we speak, it sounds trite, but by Christmas time this year is the delivery of that. John's nodding, so it must be right. It's always good when your CTO nods when you're saying something. The last question we have is from [Gordon Sogg]. With all the good news, I do not see a significant uplift in share buying by directors. What is the company's intention regarding having directors get more skin in the game to show our shareholders' faith in their input into the business? I might answer that one first. It is always a difficult thing when you are on the board because there are so limited times where you are actually allowed to purchase and sell, because we are in blackout periods because we have material knowledge. I do not think that you can look at what has happened in the last year and say, why aren't the board investing more in the company? You are on the board of BLIS because you are passionate about the company, and you want to help it succeed. Whether you are able to purchase shares or not is actually a completely separate issue. I do not know whether any of the other— Paul, let us just give you a hospital pass. You are a new board director. Thanks, Alison. I was hoping you would do that. No, I would endorse Alison's comments. I am on a couple of other listed entities, and there are very limited windows where you can buy shares. The regulators do a good job at protecting shareholder interests in terms of looking at director share trading and making sure that they are actually complying with the continuous disclosure requirements and the legal requirements around insiders buying shares. So we have got to be very cautious and very careful. That said, I would not be here today, and I do not think any of the board would be here today, if we did not have a commitment to invest our time in supporting BLIS. Yes, we get paid for that time, but there are other things we can do with it, and I am certainly here today because I have got a very positive view on the future for BLIS, and I would love to make a small contribution to taking advantage of some of the opportunities that Scott and Alison have talked about as we go forward. If we can get that right and deliver, then I am very confident that shareholders should be the beneficiaries of that because it is your company, not ours. We should add to that the NZX really pushes as well around independence, and that is the key push to directors, having independence so that they can make the right decisions for the business as well. Is there another question here? There is one on the floor. Is there? I am just not sure. Don't you- I have got a question. Go ahead. Paul Johnson, shareholder. I look at it like everyone is talking about the share performance. There is 1.3 billion shares. I call it a penny share because it is basically at NZD 0.015 most of the time, and it is like buying WasteCo at NZD 0.007. So who would, because it is going broke? So maybe if it was less shares and the price of the share was NZD 0.20 now rather than NZD 0.02, it would be more attractive for the basic shareholder, the common person, to look at it and think, that is a viable company. It is not going broke. Because really, a penny share to me is, I like it because I like BLIS, but I would not really like to buy WasteCo at NZD 0.007 right now. Considering I did sell them at NZD 0.08, because they are going, in my view, broke. This company is proceeding very well, but to the outsider, it's a penny share and it's, why would you buy it? And there's a lot of shares. You're not telling us anything that we don't already know. If we reduce the quantity of the shares by [inaudible]. I nstead of NZD 0.02, it's NZD 0.20, we'd have a lot less shares, wouldn't we? That is why I was thinking, why don't we do something like that? You want to comment, Scott? I think your comment is well noted, and I think the board have all those options that they consider every time they get together, so your point is well made. Thank you. One further question online from [David Mounford Hayward]. Does the capital review include a potential capital raise? No. Do you want me to say it three times? No. That is all the questions. Thank you very much. Now, I would like to move to the formal part of the meeting, the resolutions. If you do not have a pen or a voting paper and you would like one, just please raise your hand and somebody will come and help you out. If we go to Resolution 1. Ordinary Resolution 1, that Paul Munro be elected as a director of the company. Paul is offering himself for election in accordance with the NZX Listing Rules and the company's constitution. The board has determined that Paul is an independent director. The board recommends Paul to you as a director of BLIS Technologies Limited, and unanimously supports his election. Paul will provide a brief address to the meeting to support this election. Good morning, everybody, again. Probably not a lot to add to what Alison's said in her introductory comments and to the response that I provided before to that very generous hospital pass. Alison, thank you. But look, I was really delighted to be approached to join the BLIS board earlier this year. BLIS is a company I've known for a long time. I've been a long-time user of the product, as I've told everybody who'll listen. I really believe in its future, and the opportunity to bring some of my experience to the board to try and help BLIS take advantage of the opportunities that Scott and Alison have talked about today. It's something that I'm really quite excited about. Just really briefly, probably three or four areas of experience that I believe I can bring to the board. I've got, obviously, a strong finance and accounting background from 24 years, felt like a lot longer at times, but 24 years at Deloitte, where I was a corporate finance partner there until 2016. I then spent six years, as Alison said, as the CEO of Christchurch City Holdings, which is a publicly owned investor in commercial infrastructure in Christchurch. Since 2022, when I stepped down from that role, I've just been focused purely on governance. So I spend half my life working doing governance roles and the other half living in Central Otago, in Wanaka, living the dream. I've got experience in a couple of other listed companies. I'm on the board of Scales Corporation and New Zealand King Salmon, as Alison mentioned. So one reasonably large listed company and another small cap, much like BLIS. I've obviously got experience with technology companies. I'm the Chair of Tait Communications, as Alison mentioned. I'm on several other boards focused on infrastructure and a couple of small private companies as well. So look, the opportunity to join BLIS is really exciting for me. I think BLIS has got a strong positive future. As Scott said, we can't control the share price, but we can control the way BLIS performs. So I'd like to think that if I'm reelected today, that I can play a small part in making a positive contribution to the future of BLIS. So thank you in advance for your support and thank you for listening. Is there any discussion on this resolution? Anything from online? There appears to be no further discussion. I now put to the vote the ordinary resolution that Paul Munro be elected as a director of the company. Please take a moment to mark your proxy voting form in relation to Resolution 1. We'll move on to Resolution 2, director remuneration. That pursuant to NZX Listing Rule 2.11.1, the maximum aggregate amount of remuneration payable by the company to the directors be increased from NZD 309,000 per annum to NZD 340,000 per annum. Is there any discussion on this resolution? Anything from online? There appears to be no further discussion. I now put to the vote the ordinary resolution that pursuant to NZX Listing Rule 2.11.1, the maximum aggregate amount of remuneration payable by the company to directors be increased from NZD 309,000 per annum to NZD 340,000 per annum. Please take a moment to mark your proxy voting form in relation to Resolution 2. We will now move on to Resolution 3, that the directors be authorized to fix the remuneration of the auditors for the ensuing year. Is there any discussion on this resolution? There appears to be no further discussion. I put to the vote the ordinary resolution that the directors be authorized to fix the remuneration of the auditors for the ensuing year. Please take a moment to mark your proxy voting form in relation to Resolution 3. That brings us to the last item, which is general business. Is there any other business that a shareholder would like to raise? Anything from online? No. On that note then, I would like to close this meeting. Thank you all very much for attending, those online and those here in person. If you would like to join us for a small refreshment, we would love to have a further chat with you. Thank you very much.