Okay. Well, welcome everyone. Couple of quick shout-outs. Who saw Mananu do the haka this morning? Was that good or what? And the other one is these two gentlemen here who have come from Hamilton. Thank you for making the effort. My name is Brien Cree. I am the Executive Chair and Founder of Radius Residential Care Limited, and I am pleased to welcome you all to our sixth annual shareholder meeting. Before we move into the formal business of today's meeting, I would like to thank you, all the shareholders, for your continued support of Radius Care. We appreciate the trust you place in the company and your ongoing interest in our progress. Today's meeting is being held both in person and at the office here of MUFG Pension & Market Services here in Auckland, and online through the meeting platform. I will provide you with further instructions as we progress through the meeting, but if you encounter any issues, please refer to the virtual meeting online portal guide, or you can phone the helpline on 0800 200 220. Before we begin, I will cover a few housekeeping matters. Firstly, for those of you here in person, can you please put your phones on silent? Which actually reminds me. That would be an own goal, wouldn't it? Toilets are located to the right. You just go out the door here and to the right and then turn left. If a fire alarm goes off, please follow directions from MUFG staff and they will guide you safely to the designated evacuation area and provide further instructions as required. For those attending online, the meeting can be followed through the online platform. Please refer to the online meeting instructions provided with the meeting material. If you have a question during the meeting, please submit it through the online platform. Questions will be addressed when we pause throughout the meeting. As today's annual shareholder meeting is focused on formal business, questions during this part of the meeting should relate to the resolutions before shareholders. Broader questions about Radius Care and the business should be held over for the investor session, which will follow this meeting, where there will be an opportunity for both shareholders and non-shareholders to ask general questions. When asking a question in the room, please use the microphone, and introduce yourself by name. I am pleased to confirm that we have a quorum, including shareholders attending in person, online, and by proxy. I now declare the 2026 Annual Meeting of Shareholders open. I would now like to introduce my fellow directors who are in attendance here today. All the directors up here. We have Tom Wilson, we have myself, we have Bret, Hamish, and Mary. Oh, Duncan. I did not see Duncan. Sorry, Duncan. I am thinking, "Yeah, there is six of us. Where is the sixth one?" I would also like to welcome our legal advisors, Chapman Tripp, our auditors, Baker Tilly Staples Rodway, and our registrar, MUFG Pension & Market Services. I would also like to acknowledge members of our senior leadership team who are also here today. This year's meeting follows a revised format. The formal annual meeting will focus on the business set out in the notice of meeting. This includes considering and voting on the resolutions and considering any other matters that may properly be brought before the meeting. We have adopted this revised structure so that the formal shareholder business can be dealt with clearly and efficiently, while also allowing time for a broader discussion about Radius Care, its performance, growth initiatives, and future direction. Following the annual shareholder meeting, we will present a separate investor session. Morning tea will be available before the investor session begins, and we encourage you to stay with us, whether you are joining in person or online. Members of our senior leadership team will provide further commentary and updates on Radius Care, including new business, the company's future strategy, and direction. There will also be an opportunity for attendees to ask broader questions about the business. Attendance at the investor session is open to all interested parties and is not limited to shareholders. As those investor updates will be covered separately, I will not address them during the formal annual meeting. The order of proceedings today is first; I will outline the resolutions before shareholders. We will then move through each resolution in turn. Shareholders will have an opportunity to ask questions on each resolution. Voting will be completed by poll, and we will then deal with any other business that may properly be brought before the meeting. The resolutions before shareholders today are ordinary resolutions. Each resolution must be passed by a simple majority of votes of shareholders entitled to vote and voting on the resolution, whether in person, online, or by proxy. The board unanimously supports the resolutions before the meeting and recommends that shareholders vote in favor of resolutions one, two, three, and four. My fellow directors and I intend to vote all the discretionary proxies received in favor of the resolution set out in the notice of meeting. For those attending online, voting will be conducted through the online platform. If you are eligible to vote, please follow the voting instructions on your screen. For those in the room, voting papers will be collected at the appropriate time from representatives of MUFG Pension & Market Services, who will act as scrutineers. I will now move to the resolution set out in the notice of meeting. I will take the text of each resolution as read. Resolution one relates to the remuneration of auditors. Radius Care's current auditor, Baker Tilly Staples Rodway, is automatically reappointed as auditor at the annual meeting under Section 207T of the Companies Act 1993. This resolution authorizes the directors to fix the remuneration of Baker Tilly Staples Rodway as auditor for the coming financial year under Section 207S of the Companies Act 1993. As is usual with audit fees, the exact amount cannot be fixed at this point, so shareholders are asked to give the board authority to fix the auditor's remuneration. I now move as an ordinary resolution that the directors are authorized to fix the remuneration of Baker Tilly Staples Rodway as auditor of Radius Care for the ensuing financial year. Are there any questions about resolution one? Nope. Thank you. Please now select either for, against, or abstain for resolution one on your screen or your voting paper. The next part of the meeting relates to the re-election of three directors. That is Resolution 2, Resolution 3, and Resolution 4. Resolution 2 relates to the re-election of Mary Gardiner as a director. Under the NZX Listing Rules, a director must not hold office without re-election past the third annual meeting following the director's appointment or three years, whichever is longer. Mary is therefore required to retire at this meeting and then, being eligible, offers herself for re-election. A brief biography of Mary was included in the notice of meeting. Mary was appointed as a director in December 2020 and is a member of the Audit and Risk Committee. She brings strong finance, audit, and risk experience developed through senior executive and governance roles across financial services, healthcare, aviation, and sport. The board has considered Mary's current appointments, prior roles, and all other relevant matters, and considers her to be an independent under the NZX Listing Rules and the NZX Corporate Governance Code. The board is satisfied that she has no relationships or interests that would affect her independent judgment. The board unanimously supports Mary's re-election and recommends that shareholders vote in favor of resolution 2. I now invite Mary to address the meeting on her proposed re-election. Mary. Thanks, Brien. Good morning, everyone, here and online. As Brien said, it was my privilege to join the board of Radius Care on listing in December 2020 and to serve shareholders as an independent director. I hold five independent director roles, including four as Audit and Risk Committee chair. These roles are within finance, life and general insurance, and engineering. All highly regulated sectors similar to Radius Care, along, for better or worse, with a role in sports governance. We are a small board with diverse experience, skills, knowledge, and perspectives where robust debate and alternative views are respectfully and openly shared as we seek to challenge and support the team to carry out strategy. I think I bring an open mind, a willingness to collaborate and listen, along with courage to respectfully voice a contrary view with the aim of contributing to good decision-making. The mix of skills on the board means we learn from each other, which is certainly an aspect of being part of this team that I particularly enjoy. Radius Care has a strong sense of purpose and a clear strategy. We all take seriously our responsibility to invest shareholders' capital for growth and a reasonable return and to provide our residents with excellent care in a comfortable environment. I, along with my colleagues, visit facilities, and I acknowledge and respect the dedication, skill, and hard work of our staff team across all roles in our business. I am really proud of Radius Care and what has been accomplished, in particular, the critical focus we place on care, along with growth, innovation, and diversification, and the positive financial outcomes, including good dividends, evident particularly over the last three years. We have exciting, considered, and ambitious plans to continue to expand the group and to contribute to healthcare in New Zealand. With your support, I look forward to continuing to contribute to Radius Care as part of a strong board team. Thank you. Thank you, Mary. I now move as an ordinary resolution that Mary Gardiner, who in accordance with NZX Listing Rules retires and is seeking re-election, be re-elected as a director of Radius Care. Are there any questions regarding Resolution 2 online? No, we're good. Please now select either for, against, or abstain for Resolution 2 on your screen or on your voting paper. We will now move to Resolution 3. Resolution 3 relates to the re-election of Hamish Stevens as a director. Hamish is also required to retire at this meeting, and being eligible, offers himself for re-election. A brief biography of Hamish was included in the notice of meeting. Hamish was also appointed as a director in December 2020 and is chair of the Audit and Risk Committee. He brings extensive governance and financial leadership experience with a background spanning senior finance roles and board appointments across a range of New Zealand organizations. The board has considered Hamish's current appointments, prior roles, and all other relevant matters, and considers him to be independent under the NZX Listing Rules and NZX Corporate Governance Code. The board is satisfied that he has no relationships or interests that would affect his independent judgment. The board unanimously supports Hamish's re-election and recommends that shareholders vote in favor of Resolution 3. I now invite Hamish to address the meeting on his proposed re-election. Good. Thank you, Brien. [Non-English content] I'm delighted to be nominated for a further term as a director of Radius Care. I have served as an independent director of Radius over the past six years, and I chair the company's Audit and Risk Committee. I've been an independent director on several companies over the past 15 years in both private and public enterprises, as well as government and local body-owned organizations. Other listed companies I'm currently on the board include Napier Port and Embark Education. I'm a chartered fellow of the Institute of Directors, and I am a fully qualified chartered accountant. I've really been honored to serve as a director of Radius over the past six years. This is an organization that needs to perform and care every day for every resident. It has been particularly rewarding to be part of an organization with such strong values, strong care values, a great team of exceptional people, and a true company commitment to care. Our financial results are strong. I know the board will continue to ensure our facilities and people have the support and resources they need so they can offer the highest level of care possible to our residents. Recent years have been an exciting and busy time for Radius. We have a management team that keeps this board very busy, and that is exactly the way it should be. Bringing lots of opportunities, exciting opportunities for growth. We have continued to deliver on our growth strategy, and we have an exciting list of growth opportunities ahead of us. The board will continue to pursue growth opportunities in the sector where these add incrementally to shareholder value with a strong focus on successful execution, operational effectiveness, and efficient resource use. I believe Radius is well-placed to continue its growth path and to achieve long-term sustainable presence in the aged care sector, including the wider health and care areas. We have an exciting future, and I, with your support, very much look forward to playing a part in the future success of Radius. Thank you. Thank you, Hamish. I now move as an ordinary resolution that Hamish Stevens, who in accordance with the NZX Listing Rules retires and is seeking re-election, be re-elected as a director of Radius Care. Are there any questions on Resolution 3? My name is, my name Haley Chin. I have been a shareholder in this company for six years. It is good that they are all very friendly staff. By the way, Hamish, because I am also a shareholder of Napier Port and also Embark Education, I wish that during tea break, if you are very busy, I wish that you still spend a few minutes because I have some question from you. Will that be all right? I'm sure it'll be fine, but this is a Radius AGM right now, okay? I mean during tea break. Absolutely. All right. Yeah. Thank you. Thank you. I will bet Hamish didn't see that coming. Thank you. Any other questions? Nothing online. Okay. Where am I at? Please now select either for, against, or abstain for Resolution 3 on your screen or on your voting paper. We will now move to Resolution 4. Resolution 4 relates to re-election of Tom Wilson as a director. Tom Wilson is also required to retire at this meeting, and being eligible, offers himself for re-election. A brief biography of Tom was included in the notice of meeting. Tom was elected as a director in August of 2023 and is a member of the Remuneration and People Committee. He brings governance, commercial, and financial experience with a background in aged care, listed company leadership, and professional services. The board has considered Tom's current appointments, prior roles, all other relevant matters, and considers him to be independent under the NZX Listing Rules and the NZX Corporate Governance Code. The board is satisfied that he has no relationships or interests that would affect his independent judgment. The board unanimously supports Tom's re-election and recommends that shareholders vote in favor of Resolution 4. I now invite Tom to address the meeting on his proposed re-election. Thank you, Mr. Chairman. To the Radius owners, I stood here three years ago. I promised to focus on setting strategy and, more importantly, strategy execution, risk management, CEO and executive team management and execution, and executing on increasing shareholder value and returns. To achieve this, my governance views are founded on probably a couple of business principles: trust and loyalty, and don't tell me why you cannot do it, tell me how you can do it. The last three years has seen a Radius journey, that has been both challenging and rewarding. Early on, the business went through a reset stage to position the business to best in class in the sector that we operate in. As you have seen, and will hear about in the investor presentation later on, Radius is now proving they are best in class. Your ownership value and return to your investment have increased with a projectile that that should continue. I am not sure I am allowed to say that, but I am. The lawyers are looking at me. A business that sits still will go stale. It could possibly fail. Radius are proving to be innovative in the sector that they operate. New hospitals operated the Radius way. You have heard that expression before. Integrated in-house and life care service offerings that are expanding rapidly. I am excited to be part of this journey in working with exceptional executive management and Brien, to make it all happen. The outcome for owners, increase your ownership value, increase your return on investment. Pretty simple. I remain absolutely passionate about the Radius business, its future, and its executive, and the competency of my fellow directors, and would dearly like to represent the owners over the next three years. Thank you. Thank you, Tom. I now move as an ordinary resolution that Tom Wilson, who in accordance with the NZX Listing Rules retires and is seeking re-election, be re-elected as a director of Radius Care. Are there any questions on Resolution 4? Thank you. Please now select either for, against, or abstain for Resolution 4 on your screen or on your voting paper. I will now shortly close the voting system, so please ensure that you have cast your vote on all four resolutions. The latest time for receipt of proxy appointments was 10:30 A.M. on Monday, 10th of August 2026. The results of today's meeting will be released to the NZX following completion of verification of voting. The notice of meeting provides for any other business that may properly be brought before the annual meeting. While the final voting process is completed, I am happy to take any further questions from shareholders on the financial statements or management of the company. First for those attending online, and then from the room. Rohan, any questions online? We have two questions online. The first question is from David Loveridge and is directed to the chair. "Why is it not compulsory for every director to have a shareholding purchased on market? We shareholders have skin in the game, and so should all directors, as otherwise no real commitment. Okay. There are two schools of thought around directors owning shares. One is that it's the skin in the game, so therefore you have a vested interest in the company. The other is that by not owning shares in the company, you are fully independent. I think it's pretty subjective as to which one is correct. I think it's a personal choice. In this particular case, most of the directors do hold shares. One director has chosen not to hold shares to remain entirely independent. Thank you. The second question is from NZSA or the New Zealand Shareholders' Association. The company has made a political donation of NZD 5,000. They made a similar donation last year. Can you explain this donation and point out NZSA believes companies should not make donations, as these should be a matter for individual shareholders? Fair enough. We have tended to support different political parties over the years. I personally support political parties in a personal capacity occasionally. In those two particular instances, they were dinners at which political parties invited us to attend. It is a fair point, and I'd have to say currently with the environment that we are in, it's difficult to know who to support. I think as a general trend, in the past, we have had Labour has been more of a supporter of aged care, perhaps, than National. I'm not sure that that's necessarily the case going forward with the fiscal position of the country. So, it is probably fair to say that we now no longer are in a position of knowing exactly which party would support aged care the most. As a large organization involved in aged care and as government being our major sponsor, we do try and stay close to all ministers. No more online questions. Any questions from the room? Bearing in mind there is plenty of time to ask questions during our investor presentation, which will follow. Thank you. The registrar, MUFG Pension & Market Services, will now move through the room to collect your voting cards. For those shareholders online, you can now submit your vote if you have not done so already. Voting will be open until five minutes after the conclusion of the meeting. Ladies and gentlemen, that brings us to the end of the formal business for the 2026 annual meeting of shareholders for Radius Residential Care Limited. I now declare the annual meeting closed. As noted earlier, we will now move to a separate investor session. I encourage everyone joining us today, both in-person and online, to stay with us for this session. It is open to shareholders and non-shareholders and will provide an opportunity to hear more about the business, receive broader updates from the senior leadership team, and ask general questions beyond the formal business of today's meeting. If you are joining us online, it is important that you remain logged in, and that is logged into the link that you are now logged into, and wait for the session to begin at 11:00 A.M. Morning tea is now available, and we will resume at 11:00 A.M. I just note that 11:00 A.M. is not far away. Given the number of people in the room, perhaps if you do not mind, we might just take a two or three-minute break, and then we will reconvene so that the people online are not kept waiting. Yeah. Sound good? Okay. Thanks, everyone. We'll be back in three minutes. Three minutes, mate. Well done. Okay. Thank you, everyone. I'd just like to apologize to the people online for being a little bit late. Given the new format, I think we can improve on the timings next time. We'll just let the last few people come back into the room, and then we will kick off with the investor presentation. All good. Thank you, Brien. Can everybody in the room hear me? I see a few nods at the back. Yes. My name is Andrew, and I've had the privilege of being the Radius Care CEO for just over four and a half years now, and just recently survived/thrived my fifth ASM at Radius Care. It's a pleasure to now be presenting the investor session, which is the first time we've presented separately from the ASM. I joked with our directors halfway through, after the ASM, that they did such a good job of painting a picture of the direction of travel of the company. They've made our job a lot easier. So, thank you to you three for your kind words, and congratulations on the three reelections. Today, I have, as you can see, Brien and Jeremy with me. We will go through some slides around the company's current performance, around our future growth trajectory, and around the concept of Radius Services, the wider care that we provide in addition to the care that we provide at our care homes. We will finish up with a growth and outlook statement for the final 2 slides. All materials have been posted on the NZX this morning. Thanks, Brien. Am I a bit booming? All materials are on the NZX, and we will be talking to the slides that have been posted along with the NZX material this morning. Moving to the first slide on page 4, about Radius Care. There should be no new information here, but just to clarify, Radius Care, we are a care operation. We are not a retirement village company that is dependent on property market fluctuations. We are a care business, and we have roughly 2,000 care beds with which our 2,000 people deliver exceptional care to our residents each and every day. As our director said, we run profitably. Our current EBITDA per bed for FY 2026 was NZD 31,000, which is industry-leading and increasing year on year. We are built on care, and we will continue to be built on care in years ahead with services provided in a wider manner that we will talk through in later slides. Our executive team. Please, hands up, members of the executive team that are here today. There's a few nice pictures of them here and in the crowd. Thanks, guys. Pleasure. These are the guys that do all the hard work. I'd like to especially welcome Sarah. You can keep your hand up if you like, Sarah. As our new GM Care Operations, any tough questions, please direct them to Sarah, because she's on Day 3 of the company at the moment. Welcome, Sarah. It's really nice to have you here. Sarah's been tasked with the great task of continuing to optimize our care business and work on everything we've talked about and will talk about today. Radius Care at a glance. You probably know we have 25 care homes. Our northernmost care home, you can see at the top there, is in Haruru Falls, just out of Paihia, and our southernmost care home is Radius Clare House in Invercargill. We provide high-acuity care across all of those 25 care homes. We have our newest care home smack bang in the middle in Wellington, in Karori, in Messines Road in Karori, which we acquired in May this year. The next slide is interesting, and again, you may have seen this in our presentations in the past. It just shows on the right-hand side of the graph, in interestingly Clause 2.1.1, I'm not sure where that's been cut from. Effectively, in a small number of years, six years, there'll be 12,000 beds short in New Zealand in the aged care industry. Just to repeat, 12,000 beds short by 2032. That number, as you can see on the right-hand side of the graph up there, increases by 2040 to 40,000 beds. Just to provide context, we as a country, at the current rate of build or lack of build, will be 40,000 beds short in 14 years' time. We see that as presenting an opportunity, and later in the presentation, we'll talk to that opportunity, but it's worth pondering that. When you see occupancy increasing, that is because there is fundamentally more people needing care than soon we will be able to provide that care. On that demand, we at Radius Care, it was really nice to hear the three directors talk about exceptional people, exceptional care. Does anybody apart from the executive team know what exceptional people, exceptional care slogan is? It is not epic. Anybody? Hopefully, you have been listening. It is EPEC, which is Exceptional People, Exceptional Care. Our exceptional people have stayed at Radius Care longer. Two years ago, our turnover, if you see the left-hand side there, our turnover was 35%. It is now 18%, and we are proud of that. We are also proud of the internal promotions of our care home managers and our regional management team. Proud as well on the eNPS score, which was released a month or so ago, of +30, which is a 50% improvement. For those not of a mathematical bent, last year it was +20, and this year it is +30. Again, some continuous improvement on that. The middle box, also very important, our four-year certification. Just to clarify, at a period of time, all care homes are certified, are audited, and you can obtain one, two, three, or four-year certifications. Across the country, all care homes have either one to four-year certification if they are operating. 19 of our care homes, as you can see on the slide, have four-year certification or what we call the gold standard. Of the six that remain, three have pending results. What does that mean? In the next few weeks, we are likely to receive notification that those three will get four-year certification, which will take us to 22 out of 25 of our care homes with that gold star certification. I think it is worth pausing on that. Nobody else in the country has more than 70% of their care homes at four-year certification. In a matter of maybe a month, we should have, if my math stands corrected, and I will look at Jeremy for this, approximately 88%. Is that right, Jeremy? 22 times four? Yeah. Of our care homes with four-year certification, which will be great, and provides a basis because our prospective customers look at that. They look at audit results and see four-year certification and understand that our care is exceptional as we talk about. Lastly, in the box, we talk about community connection. It is really important. When people get to the stage they need care, they want to be connected with their communities and with their families, and we take that very seriously as well. I like the next slide. Although I am the CEO, I do like numbers. You can see. Oh, that was good. They got a laugh. You can see our key metrics since listing. If we start with the top left, reported profit before tax is up to NZD 14.3 million. Has increased significantly since FY2020. Underlying EBITDA, steady increase to the FY2026 number as well. Underlying EBITDA per bed, on the bottom left, we talked about that earlier, is NZD 31,000 and increasing year on year. The number of care beds up until FY2026, you can see there on the bottom right. We currently have around 1,990 care beds because that has increased with Karori. Just under 2,000, and out of those 2,000 beds, we have 67 empty beds at the moment. Just to reiterate, later we will talk about our occupancy of 96.7% as at today. That is the highest occupancy we have had as a company, and 67 vacant beds. Out of the 1,990 beds we have, 1,923 are currently occupied. Again, a new record for occupancy for Radius Care, which is great, and down to our exceptional people and everything they do every day. This slide appears twice in the presentation. I think it is a very useful slide because it breaks down our core or our overall EBITDA number by division, by care, by village, and by health services. We will talk a lot about health services later in the presentation. Spoiler alert. On the right-hand side, if you look at the revenue for health services, just over NZD 7 million. I talked earlier that we are not a retirement village company, and these numbers show why we are not a retirement village company. Our new health services being Luma and the Radius Shop, home support, and CBIS, and we will talk about all those aspects later, are providing revenue or did provide revenue in FY 2026 of nearly NZD 7.5 million. Worth noting that that is a growing part of our business and will continue to grow, and more of that later. I think this is my last slide before I hand over to my boss. What I think we have summarized is we are uniquely positioned for growth. We are a care company that focuses on high acuity care at our 25 care homes and throughout the community. We have sector-leading both care metrics in our audit certification results and profitability, and we have the capacity expansion that we are starting to build new builds and home services. With the scene set, I now hand to Brien, to my left, to take you through the next slides. Okay, this slide is introducing the Radius Health brand. You will see in the top left that we have developed a logo and brand identity. I am just going to take you through a couple of slides as to why we are doing this. So, what do we want to solve? The problem is the current infrastructure behind healthcare services for people as they age is fragmented. There are three core issues. The first core issue is that people and families must navigate multiple entry points and transitions across care services. The second core issue is the operational knowledge, and data can remain trapped within individual services. So, each care service for the elderly is currently a bit siloed. Think of that as perhaps GPs, they have their own system, and they maintain all their own information, then it moves across to people in home care, and that's a separate siloed sort of sector as well, then aged care is separate again. The third core issue is this fragmentation creates friction, and therefore missed opportunities to improve outcomes and efficiency. Our response is Radius Health will be the growth platform for a connected health services group focused on aged care. It'll bring complementary services and capabilities into one strategic platform, connecting clinical services across the group, using frontline care experience to identify, develop, and scale practical solutions, and creating a disciplined platform for partnerships, acquisitions, and growth. The Radius Health platform today covers seven integrated pathways. I just want to be clear that we're not talking about renaming the company, we're not talking about changing the company structure. What we are doing is implementing a brand which better covers the different things that we are now doing. Those seven different pathways. Radius Care, first and foremost, that is the care business, 25 care homes, five retirement villages, and Radius Care is the engine of Radius, very clearly. What we found was that we were starting to get a little bit confused about if Radius Care is the care part of the business, what is, for example, Cibus Catering, which is our catering business. Is that part of Radius Care? In which case, is it diluting the Radius Care brand? Our solution was to come up with effectively an overview brand, which is Radius Health. It's got its own separate logo there, the circle thing called a roundel, apparently. Rondelle, yes. Then effectively that means that Radius Care, which is the brand that you normally see with what we refer to as the hug, and it has the hug on it and will continue to have that, and that will be the core focus of Radius Health. Then we also have home support. I'll just run through these seven, so you start to get a picture of why we're thinking that we need an overarching brand. We've got Radius Care, which is the core business. We've got home support. That's a tailored care experience within your own home to help you recover or manage an injury, illness, or disability, and that's at home. Then we have the Radius Shop, a nationwide online channel for mobility, daily living, and continence products. That's trusted by more than 20,000 New Zealanders at the moment. Then we have Luma, our proprietary continence product range developed and validated by Radius Care. Then we have Cibus Catering. By the way, Luma has its own branding as well. In the future, it will have this little roundel with Radius Health. It'll just say Radius Health company as opposed to a Radius Care company. Cibus Catering, food services, menu planning, and nutrition management. Then we have connected capabilities, which are product research and development. Luma's a good example of that. Sector leadership and advocacy, I get involved in that myself, and service innovation. Alongside that, we have the development and expansion pipeline, which is increased capacity for new build care homes, continued targeted acquisitions, and villa construction. This slide is really where we have landed in that Radius Health builds the system and the infrastructure, and then Radius Care delivers the care. We keep the care brand very pure. I will now pass you over to Jeremy just for the next slide, mainly because it is numbers and that is Jeremy's thing. Thank you, Brien. For those of you who have not been introduced to me, I am Jeremy Edmonds, Chief Financial Officer, and I am just on three years with Radius Care. As Andrew mentioned, we have already covered this slide, but that was a great foundation for starting our conversation about our growth plans. I just wanted to reiterate the foundation for growth that last year's financial results give us. Starting with care, it is our core earnings engine and most of our earnings. Villages, they are a much smaller but still meaningful contributor to earnings. On the right-hand side, health services. The important thing here is that already health services are delivering more than double the revenue that our village operation is. That just really shows we expect that care is our core earnings engine. We expect that to continue, and that provides some really beneficial operating leverage as we expand that, with meaningful contributions from villages and a growing contribution from health services. Thanks, Jeremy. That leads us on to care expansion. There is a bit going on in this slide. I think it is important to remember what Andrew said, that we have got 67 empty beds. 67 empty beds across the whole of New Zealand is not a great position for us to be in. We need more capacity. For the last two years, we have been very actively working on designing a new care facility that can be built cost effectively and that will act as a blueprint for us to expand across the country in the coming years. The new build care homes, we have two underway. We have got construction of the 100-bed Applefields Care Home in Belfast on land that we own, and that has commenced. That picture on the right is actually with the red line, that is the care home site. You can see bulldozers running all over it, and they are getting ready for the build season soon after winter. To the left of that is actually represents about one hectare. To the left of that, there is another three hectares that we own. The second one is the construction of the 80-bed care home in Hokitika, and that is in collaboration with Development West Coast, and that is expected to commence in early 2027. In fact, yesterday, Laurie lodged the resource consent for that building. That is progressing quite well. There is a bit of civils work that has already started on that site. That is a graphic of the site below the Christchurch one. The one with the little road in it, that is a graphic of that site. Acquisitions will continue. Karori, we have already talked about. We seem to be averaging sort of one a year at the moment, which is okay. We are pretty picky about what we buy, so it does take a little bit of time to find these sites, and I think we will continue to do that into the future. They add significant value as we go along. Then if we come back to the left-hand side, we are actively progressing additional opportunities with private investors to construct new care hospitals of 80 to 100 beds throughout the country. The bold statement is that we plan to build 20 new aged care hospitals over the next 10 years. That will double the size of Radius Care over the next 10 years. Initially, when you say that, it sounds like a lot, but actually, if you look at that table there, we already have two underway, and we have another eight under discussion in various stages of negotiation. In fact, having launched into this, it took us two years to design the building. As you know, as shareholders, we have held that piece of land in Christchurch for five years. We are slowly starting to get underway, and now we are getting momentum with the new builds. Moving on to the next slide, village expansion. As Andrew said, we are not village developers per se, and we try and be very clear on that. We are a care company. We are a care services business. But what comes with aged care is high acuity villages. We are a bit different in terms of our villas that we build. They are a little bit different to perhaps other retirement village developers in that we are looking to provide effectively continuum of care for people who are in a higher acuity environment. Older people, probably realistically 85 plus. We have got the incremental brownfield and greenfield opportunities, and we do that where it is considered that they add value to our care home. We are always focused on care. Residents are our primary focus. If it does end up that there is an opportunity for some village that will support that care offering and continuum of care, then we do not mind doing that. But we will never be a large-scale retirement village developer. The pictures here, the top left is one of the 14 units that we acquired at the time in May of Karori Village. They are being refurbished at the moment. I was actually there on Monday, and they've all been stripped out in the process of being refurbished and will be completed around the end of November, according to Mark, who's in the audience somewhere, panicking now that I've said it in public. Then below that is the six villas that we're building currently in Matamata. They are due for completion quite soon, as you can see. It's actually progressed considerably more than that picture. Then if I just go down to the bottom right box, we've got opportunities to develop 50 and 80 sort of unit villas at a couple of the sites. So, we've got that other three hectares in Christchurch and the Hokitika site. The council down there want us to build a village on that land, so we've said yes, but it would be a pretty slow process, I would imagine, in Hokitika. It's just dependent on the need of the community and also the uptake. We don't want to start going off and building villas that sit around and aren't sold. Also, a key takeaway on this slide is that we have introduced a nine-month buyback. You probably heard in the media, there's a lot of discussion around buybacks and retirement village for retirement village units that aren't sold. We have gone ahead and we've introduced a nine-month buyback. So, if a unit is still for sale, then we will, as a company, purchase it back, because I think that's the fair thing to do. Families sit around wanting the money, and it just doesn't seem morally right to have them sitting there empty when they rely on us to provide services and care. Again, it comes back to that focus on care. The consequence of that is that we would have bought back one over the last three years, so it's not really a huge financial commitment. It's more of a moral commitment to our residents. So, with that, I will hand you back to Andrew. Thank you, Brien. There will be an opportunity to ask questions at the end. If anybody thinks they'll forget their questions by the end, you can interrupt and ask questions on the way through, but I'm happy to take questions at the end with the panel here. The next slide is our Luma product, which Brien has mentioned. We're very excited. I think Sam, who's sitting in the second row, very shy Sam, came up with this idea a few years ago that we thought we could do better than existing providers of continence products. Various kind of group thinks, and strategy sessions has meant that we came up with the name Luma, and you will have seen as you came in this morning, hopefully, some products on the table there. What it is meant is we have our own Luma product that we provide to our 2,000 residents, and we can control the product specification, we control the sizing, and it is done all in-house via an app, which our team has developed, which is very handy to use, and again, focused on customer and getting the product right for the customer. An update in terms of the rollout, as you can see here, we do have 20,000 users via the Radius Shop of all of our products. Luma will be available on the shop platform, but what we wanted to do first was make sure that we rolled it out to our 25 care homes to make sure that there were no issues with production and distribution of the products. We have done that. August is the last month of the nationwide rollout. Once August is over, in a few weeks' time, we have a strategy to be able to sell Luma products to third parties. Watch this space for that. It is pretty exciting, and well done, Sam and team, on that. It has been a great journey so far. Home support. We have all talked a little bit about home support. Just to give a bit more color on the slide, as you can see, it is effectively providing support to people in their own homes or in retirement villages, be it Radius Care or other retirement villages. ACC funded, we got a Maximise Independence contract from the Accident Compensation Corporation in March last year. That provides funding for ACC residents in their own home. We also have around 70 ACC residents in our care homes as well, so there is a nice mix with the ACC residents either in their home or in our care homes. Our home support provision also allows for private clients to pay for support in their home where they do not want to move into a care home or they want care in their own home. We are able to do that through our growing home support business. As we both talked about earlier, the revenue from home support is growing by the month. Cibus, I love this slide. For those that do not know. Actually, show of hands, anybody knows what the food on the right-hand side is, apart from those that presented the slides? Did somebody say chicken? It is cherry chicken, apparently, with a bit of broccoli at the back. Nutrition is vital to our residents, both in terms of the presentation and the nutrition and the food excellence. It is important to our residents, and it is very important to our residents' families that we provide good food. Having Cibus Catering as part of the Radius Care family, we own a majority interest in Cibus, and it is a really, really important part of our offering at our care homes. As you can see on the slide, there are 28 Cibus-managed care home kitchens and another 49 sites using the Cibus menus. This means that the meal selection and visibility of the food, so if a family member wants to know when their mum or dad is being, what they are eating on a given day, might be fish and chips for Friday lunch, they can tell in advance. And we have TV monitors which indicate the daily menus and the weekly menus so that people know what they're eating and have optionality around foods within the Cibus menus. It's been really good. It's a couple of years now. C ibus team, we meet regularly and have board meetings six times a year, and it's a vital part of our business and worth calling out. We're trying to grow the Cibus breadth across the country in terms of more care homes having Cibus kitchens and menus into the future. The cherry chicken, I'll say goodbye to. Next, talk about systems and technology. Sitting next to Sarah is a chap called Yaku. Hand up, please, Yaku. I think we are reasonably far advanced on the curve of AI in that we have Yaku, who is an AI specialist in the business. He is employed by us in support office, and his full-time job is AI and automation. That's really important because we don't just sit around there thinking about risks and wondering what to do about AI. We're doing things already and with a sole focus, as we set out on this slide, to make sure that we are focusing on our residents and our staff at our care homes spend more time focusing on residents and less time on admin and computer-related tasks. Yaku's a very busy guy and did a great job of getting in touch with our care homes, did a nationwide tour to see what they wanted out of AI as opposed to what we could provide them. That's making the daily lives of our HCAs, our healthcare assistants and workers, a lot better in streamlining processes and, as I said, spending more time with residents. I talked a bit about the in-house development of the Luma app and other automation processes which are designed to simplify and save time, both at our care homes and now at support office as well. Thanks, Yaku. Now over to Jeremy for a couple of slides on capital management before I finish off with an outlook statement and some growth statements from Jeremy. To my left, Jeremy. Thanks, Andrew. On capital management, which is very important to fund the growth we've been talking about, and the overall framework that supports capital management, we've talked about a few times in the last year since we introduced that around a year ago. That framework continues to guide our decision-making and our approach to capital management. A couple of points here. Leverage, first of all. Core debt has increased since we acquired the Karori site in May, following the end of the year. Core debt's increased to around NZD 85 million. We do expect leverage to reduce over time back to and below our target level over the medium term. In terms of growth investment, the new build program that we've laid out does come with some capital investment. They are primarily supported by private investors, so our investment is limited to the operating assets that go inside those care homes. As a result of that, particularly probably from the end of the following financial year, growth investments will start to accelerate. Because of that limited investment for the operating assets, we do expect that operating cash flow and retained earnings will be able to fund this in most years. Finally, and for shareholders, potentially the most important part is the dividend policy. The important thing about the framework is that it has been designed to support both growth, with investment and growth in dividends. We expect growth and dividends to continue over the medium and the long term sustainably and as a key differentiator, to remain fully imputed. We pay tax, we expect to continue paying tax, which allows us, quite uniquely in the sector, to attach imputation credits to our dividends. Now I will hand to Andrew to talk about the growth outlook for the current year, and I will finish with some more longer-term projections. Thank you. For those that are waiting for more morning tea or a toilet break, this is the penultimate slide. Outlook statements. We spoke earlier, we currently have 1,923 occupied beds, which is a record for the company as at today. This time last year when we had our ASM, we had 1,814 beds occupied, so 109. Again, my maths, hopefully looking to Jeremy. 109 more beds this year than last, and our occupancy last year was 95.6%. The debate continues as to what full occupancy is. But we are starting to get to the point where we are edging towards a percent or two away from being full. There is an ongoing discussion with the regional management group, one of which is here, a couple of which are here today. But yeah, we kind of feel like full is in the 97% to 98% range. So, we are getting there. Again, it is down to our team providing excellent care every day. What does that mean for FY2027? We at the full-year results talked about our FY2027 numbers being ahead of our FY2026 numbers. We reiterate that position, again, based on occupancy and current trading. On top of that beat to our FY2026 numbers, Karori will be added to both in terms of care revenue and then possibly some of the lovely villas that Brien showed later in the financial year may be sold to add to that metric. So, our outlook statement remains the same. We are positive and upbeat, and pretty excited about what lies ahead of us. For the next slide, Jeremy will talk about what lies ahead of us, and then I will close out. Thanks, Andrew. There's a lot going on on this slide, but I suppose the key takeaway really is that we expect our recent growth to continue in the medium and the long term. With care representing the majority of our group revenue and earnings, we expect overall group revenue to follow very closely our capacity growth and care. We see there the growth in the number of care beds and the new build plan that we've talked about and how that is likely to be phased in. Our revenue follows that very closely. It's probably important to call out a couple of the key assumptions behind revenue. First thing is that, with care being the majority, it's cut off current government funding rates for care, which became effective 1st of July 2026, and 2.5% CPI assumption. Growth has cut off current care rates that were implemented a few weeks ago. With that top-line growth, what that does do, it supports the expectation of future sustained dividend growth. What we've outlined here is a range of 10% to 15% growth in dividends, which under our capital management framework, we expect to be able to support both this and the investment in the assets that we need to operate those new care homes. With that, I'll hand back to Andrew to wrap up and an opportunity for questions. Thank you, Jeremy. Maybe we could go back to that slide in particular if there are any questions from shareholders on that slide or anything else that we've presented. Thank you for your presence today. I've really enjoyed being able to tell our story some more, and splitting the meeting into two, I think, has been a success. I'm looking to my left and seeing nods. That's good. Roger's nodding. That's always usually a good sign. He hasn't nodded off, so that's an excellent sign for today. Look, please ask whatever questions you would like that are suitable for Radius Care shareholders, and we'll endeavor to answer as openly as possible. Then, if there's morning tea still outside, please help yourself. Sir. [audio distortion] This is kind of a compliment as well as a question. Just adding to the presentation, and I haven't been paid to ask this question either, but unlike Summerset, Ryman, Metlifecare, et cetera, which haven't really been doing much in terms of profit and earnings growth and what have you in recent times, Radius Residential Care seems to be the opposite in terms of growing earnings and growing dividends. My real question is, what's the secret of your success? I will tell you later. Oh, look, we do get asked that question a bit, and really what we do is just focus on what we do. We have been around for 23 years, and we have focused on care the whole time. There has really been no significant change in our model other than hard work. We have systems and processes in place which serve us well, and they are well-tested. As a board and as a management team, we work hard to maintain those, and that is the secret. It is really just sticking to our knitting. Having said that, we have just outlined half a dozen other things that we do. We are very clearly focused on care, and that is, I think, the core reason why we are successful and we will continue to do that. Yeah, Richard Myers, shareholder. There is no question about the demographics that you have alluded to that support retirement and care, but my question is really about the family financial situation at present. We have been through economic times that have strained the family budget. So, how can your business be financially viable to this increasing population of aged care in the future? Yeah, sure. Look, that is a really good question, Richard. Thank you for that. I think the key part is that the aged care model, and we probably have not talked about this much, is partly government-funded, in fact, mostly government-funded, and then there are top-ups, if you like, of accommodation supplements paid per bed as needed. So, for some, they are fully funded by the government and/or, as we talked about before, by ACC, and some pay top-ups. Our accommodation supplement rates are reasonable. They are not punitive. They are reasonable, and we are always, wherever the care home is located, sensitive around the current economy and how much people can pay. So, we see it as sustainable. I think we probably came off a low base of accommodation supplements, and we have gradually increased. But certainly, we're mindful of exactly what you've pointed out, and I think it's a really important part of the puzzle that we can provide care. But because we do provide good care in really nice, friendly care homes, we think that charging people an accommodation supplement is reasonable for that as well. Roger. Right of reply from Roger. Gosh. Ron Robertson, a shareholder. This is just a follow-up question on what's been talked about throughout the morning, and what you've just answered as well, and that is regard to the government support for what you're doing. As you know, there are various campaign policies from the parties in line with how soon a payout to the relatives of a deceased person and figures as low as three months have been mentioned. The chairman mentioned that you're taking an initiative to pay out within nine months. So, that's one aspect of the question. The other aspect of the question is my understanding is that 4% was allocated to the sector last year by the government. Do you regard that as a floor, as a fixed amount, or can that fluctuate down as well as up? Just to amplify on this whole aspect of the government funding and what you're anticipating. I think I might answer the first part of the question and then give Brien time to prepare himself for the second part of the question, if that's okay, Ron? The first part of the question, nine-month buyback. We just think it's fair. I think Brien talked about care and we care for the families. We don't know what the government will mandate, but the latest proposal from the current government is 12 months. So, we've taken the initiative to include in our contracts a nine-month buy-back period to effectively as a point of difference. I think other large operators may be including 12-month buybacks in their contracts, maybe not, but we just didn't want to wait for that. We wanted to be the leader in that aspect and return capital ASAP. That's the first part of the question and government funding. Brien. Yeah, I think it goes a little bit to the answer that I gave for the previous question, actually, which is that we do just tend to focus on what we're doing. We're not sitting here sort of hoping for increased government funding. We are successful. The business is successful in its current format. As a general principle over the years, the government portion of the funding has maintained CPI. So effectively, if we were to look into the future and suggest that the government funding portion of the fee keeps up with CPI, then we will be absolutely fine, as we are indeed right now. So, no one knows what the future will hold, and yes, it can go down. But I think we felt 4% was pretty reasonable given the environment, and we have no reason to suggest or think that that could be under significant pressure in the future. There is always talk about the aging population and the cost of that. But a couple of things that it is perhaps worth mentioning is that, for example, in aged care at the moment, there are roughly 40,000 beds. In the public hospital system, there are approximately 13,000 beds. So, the aged care sector is actually a huge support to the public sector and as aging of the population occurs, it's very important that we try and keep people out of the public system, older people out of the public system, because if we don't do that, it will choke the public system and then when someone has a heart attack, there'll be nowhere for them to go. So, I saw a stat the other day from Hato Hone St John actually, that approximately 50% of all their calls is for people over 60. So, you can see that it's happening, and so that partly is the reason why we have embarked on a new build program. We can see that the country needs more aged care beds and more and more aged care is becoming more of a specialist provider. So for example, ACC, we do a lot of ACC work now, and that will continue to grow. I think in the future, and for quite a few years now, we've started doing things like taking people for a short period of time out of hospital before they go home. The answer is we don't know the future, but we work at what we're doing and we work based on our situation today, which we feel is healthy. Roger. Roger Wallace asking as a shareholder. Brien might have partly or mainly answered my question, but could you comment on the differential and cost for a bed for non-acute care in the public system compared to Radius and other private sector participants? Second question, and perhaps this is one for Andrew, what's a good outcome for the sector as distinct from Radius Care from the Ministerial Advisory Group preview? Right. Thank you, Roger. The answer to your first question is reasonably simple. Within kind of rounding a hospital bed that Brien's described at the moment is roughly NZD 1,700 a day, and a hospital bed funded for aged care is roughly NZD 326 a day. The delta is just under NZD 1,400. That's pretty telling in terms of the hospitals and the need to clear out hospitals and have people in aged care. From that perspective, it's significant. The second question, what would be a good outcome? I think I'll defer to Brien's earlier answer, and in terms of 4%, we budgeted for 2%, so 4%, I think is pretty good for us. For the sector, was your question. We would like to see smaller operators in rural areas being able to continue to provide care. I think that's probably critical. We try to stay reasonably agnostic to it. Just to be fully in the interest of full disclosure, Brien is a member of the MAG or the Ministerial Advisory Group. Everything that happens within that is obviously confidential and probably within a month or so will be released. We do not know the exact date. I do not know anything about it, so do not know the date. A good outcome would be something that means that every New Zealander can maintain or can look forward to the future to be a positive one and get care in care homes throughout the country. Roger is nodding. Just a couple of points on that. There are numbers as high as NZD 3,500 a day for public beds. So, it is pretty expensive in the public system. That is not because of inefficiency. That is because they are designed for acute care, and so there is a much higher cost associated with those rooms. The second question from Roger around the Ministerial Advisory Group is, it is entirely confidential and all will be revealed one day in the future. Question over the back. Sorry. Hey, guys. Will Twiss, Forsyth Barr. Can you just talk a little bit about how the economics of greenfield developments stack up for both yourselves and then also the private parties that are funding those? Then, I guess just the assumptions or risks that sit behind that. We have spent, as I said earlier, the last two years, working on a design for effectively, two aged care hospitals, one of 100 beds and one of 80 beds. And they are locked away now, and there are no variations to those. Laurie has been working on it solidly for that whole time. We've had lots of different iterations, and the one that we have now is what we feel is the most cost effective. I'm not going to give numbers. But in terms of return to investors, we have been looking for individuals and funds who are interested in acquiring the land and buildings of those hospitals, and we will own and operate them under a long-term lease. We're offering 30-year leases with renewals. Those investors can expect to get around 5.75% to 6%. And those land and buildings will then ultimately become owned under separate ownership by individual investors. Now we've had a lot of success with going out to the market for those. A little bit overwhelming, to be honest. But we are working with a fund at the moment who is not New Zealand-based and is interested in perhaps acquiring all of those 20 that we're talking about. So, whilst there are no promises here, there is good scope, and we think that ultimately the model will support our expansion and our desire to double the size of the care business. Rohan, are there any questions online? No. Ron May well finishes off with the last question. Ron May will finish himself off with this last question. I have been dreading asking this question. I was hoping the man from Forsyth Barr would take it over and ask this. He just alluded to it. Here is the question or series of questions. Going to the auditor's report. The auditor flagged as a key audit matter the valuation of investment properties and of the land and the buildings. In the course of preparing this information for the company itself internally and for the auditor, the company itself commissions an independent external valuer to put a price on the land and the building and the company's investment properties. The auditor then audits that information or attempts to, and the auditor himself feels the need to commission another independent valuer to help with him arriving at a conclusion as to what these assets are worth. That is a lot of expertise to try to explain what the land, the buildings, the property, the assets are worth. I am assuming that you all have explained it all to each other, but I can assure you have not explained it to shareholders. The auditor himself flagged one property in particular, one purchase and lease back that is a core to the company's ongoing expansion, and that is the purchase that had taken place a little over a year ago of the St Andrew's Village. He, like I say, got an independent valuer to assist him, as well as the company information, in deciding what the worth or what the value of that purchase was worth. He was satisfied because he did not report back independently to shareholders. That is the preliminaries to the question. I then find out there is another section of the annual report that addresses that acquisition of St Andrew's and provides a certain amount of information, that the property was purchased by Radius, who in turn on sold it to one of the company's major shareholders, Mr. Neil, I cannot read my own writing, but he owns 5.5% of the company. He bought it back from the company. The company paid him at a lease rate, as the chairman has just indicated, between 5.7% and 6.5%. Like I say, this is being presented as a core part of the company's expansion and growth platform into the future, only for me to find out that in 10 months of operating the St Andrew's facility, that it lost money. It lost NZD 200,000. One question amongst many questions is what is going on here? Why are we going through all of this only to lose money? Is that what we can expect in the future from these kinds of arrangements? Thank you, Ron. Did everybody hear the preamble and the question? Okay, good. For a while, I thought you were going to ask a question of the auditors who are sitting approximately a foot to your left. I was prepared to hit Jason and Ashish up for an answer, but that would be unfair. I will answer as succinctly as I can, and very good summary. Your facts are right, largely. We have spent a considerable amount of money upgrading St Andrew's since June last year when we acquired it. We have spent, as we are doing with Karori as well, we believe when we acquire these sites that they need to be, if you like, Radius Care-ised, and that means to a certain standard of external and internal, and we've done that work. That accounts for a large part of the numbers you're talking to. If you fast-forward to the current day, so a year on from the purchase, St Andrew's is, on a monthly EBITDA basis, one of our star performers currently. Obviously, we've given guidance for FY 2027 for the whole group, so we're allowed to talk openly about care homes, but I can assure you that it is performing well, as Karori is starting too as well. Often it does depend on how much you have to spend on the care home, in order to make it worthy of our brand and everything Radius and Brien's done over the last 23 years. We've done that, and we're confident now it's roughly 98% occupied, stable workforce, looking really good, and as I said, on a monthly basis, performing excellently. I hope that answers some of the context of your question and some of the current issues that you have raised. Yeah. Thank you for that. I urge you in the future to put that kind of information in the context of the annual report. Thank you. I cannot assimilate all that kind of information verbally, not being an accountant myself. I will also mention, since we have talked about the auditor, when the auditor flags these kinds of things in the annual report as being key audit matters, yet does not provide an auditor's assessment of the key audit matter, does not amplify on the information that he got from the company and how credible he regards that as being, I think, as shareholders, we are entitled to that information as well. I know that that is standard procedure for all the auditors. They do not want to take responsibility to shareholders for offering an independent opinion. But in my opinion, that is what we are paying them for, and I would like to see more of that in the annual reports. Thank you for your two pieces of feedback. I am sure you could take that up with Jason and Ashish over a piece of ginger slice after the meeting. Thank you. I would like to thank you for your questions, Graham, Richard, Ron, Roger, and Will. Really, really good questions, good color. More questions than we have ever had in my previous five ASMs, I think. So, proves the benefit of having a separate investor session after the ASM. I think we will do it again next year. Thank you again for your attendance. Thanks to the directors, and well done on their re-election, and enjoy what is left of the ginger slice outside. Can I- Just before Sorry, I keep moving this. Just before we do close, I would just like to say that we do not actually run a successful business like this without the support of our bank. ASB Bank have been tremendous in support for us over the years. In fact, we have been with them the whole time. But, also now I would like to welcome Bank of China, who has joined us through a syndication with ASB Bank as we grow. So I just wanted to welcome Bank of China also to the Radius family. Thank you, everyone.