Just a question. Are there any "new" shares that would be added to the how many shares are offered or are the conversion from Bakewell shares and Fenix are accounted for in the IPO.

Because if it is the first case, Wouldn't that be a major dilution to the share price? I don't think I would be comfortable with that. Being an investor in Fenix and all.

Please shed light on this. thank you.