Nicholas Herman

“Firstly, just a bigger picture question. Is it fair to assume that you are adjusting down the valuations you are assigning to prospective investments as a result of the increase in interest rates that we've seen, forward rates?”

“Your line is now open, please go ahead yes good morning thanks for the presentation two from me as well please on costs I just what why the need to scale back the cost growth expect cost growth given really such strong momentum on the growth initiatives and the clear significant payback from those investments and then…”

“So, firstly, I guess congrats on the storming 2025. Cloud clearly helped by markets, but also still very strong execution. And I'll probably say this, it was an opportunity to say that I'll be sorry to lose traders as a listed company, but I can appreciate that this is also a very attractive deal for shareholders.”