Thank you. Our next question comes from our shareholder, Mr...

Thank you. Our next question comes from our shareholder, Mr Eric
Fidell. “When should shareholders expect to receive further details in
relation to the demerger, as this asset plays a vital role in our success
moving forward? Details like how shares will be priced when listed;
will funds be raised from existing shareholders to cover the cost of
separation; what percentage, if any, of shares being issued, will be
offered to the public; and, how the shares being issued to existing
shareholders will be determined?”.
Debra Hazelton: Thank you very much for that question, Mr Fidell. We’ll commence,
and in fact, we’re already in the process of commencing the internal
separation of Private Markets. This will include establishing
operational independence for management, fast tracking a new brand
development, and Private Markets’ Board of Directors. Michael
Sammells will be appointed as interim Chair of the Private Markets
Board.
The demerger would be subject to final AMP Board approval as well
as shareholder approval and will require regulatory approvals and
applicable consents as well.
We will be updating you and announcing details regarding capital
structure, dividend policy separation, management, and governance as
soon as we can. You will understand we’re at early stages at this stage.