Adler Pelzer - comment

We are reading this morning that some APG bondholders have stopped lending out their bonds, driving a squeeze of some five points. This has been going on for much of the year, and we understand that for our size, there is still borrow available. So we are not changing our position at the moment. Without a shift of control to the Hayashi family, which should come after the next and final results, we don’t see how this company can refinance or even A&E in the next six months.