"As usual, our pre-existing securitisation arrangements mean...

"As usual, our pre-existing securitisation arrangements mean that the majority of the 2008 MIS sales provide almost immediate cash to be used within the group."

It's correct. But because the 2008 sales dropped by $100m (24%) from $415m to $315m, GTP's cash inflow will drop by a similar a mount, or say ~30c per share.