Bis recapitalisation completed I am very pleased to confirm that Bis has completed its recapitalisation. Bis now has a reinvigorated balance sheet that positions Bis for a strong future under the ownership of its new majority shareholders, The Carlyle Group and Värde Partners. The recapitalisation has been a long process but last week Bis stakeholders overwhelmingly approved the transaction, with 100% of voting senior lenders and PIK note holders supporting the proposal. This was followed by approval by the Supreme Court of New South Wales on 15 December 2017. Bis’ operations are unaffected by the restructure. We will continue to deliver the same consistent and reliable service that we have been delivering since 1915. The recapitalisation has significantly de-levered our balance sheet, with pre-restructure gross debt of approximately A$1.2 billion(1) being reduced to approximately A$280 million.(2) This enhanced balance sheet, coupled with improving market fundamentals, strongly positions Bis to meet customer requirements and explore new growth opportunities as they arise. As a result of the recapitalisation, funds managed by Carlyle and Värde Partners are the majority equity owners in the new Bis holding company, namely Bis Industries Holdings Limited. The Carlyle Group and Värde Partners are financial sponsors with significant global resources and a strong commitment to value creation. The successful completion of our recapitalisation opens a range of opportunities for Bis, our people and our customers. Brad Rogers CEO, Bis Industries (1) Based on 31 July 2017 actual debt balances. (2) Excluding approximately $38 million of finance leases.