The sale in the U.S. is primarily a matter of expanding the sources of funds, rather than having anything to do with the business in this country.  A prepared statement from Sage Group treasurer John Swift said, “The notes further diversify our sources of funding and give the Group greater certainty over cost of debt at attractive rates and maturity profiles." Proceeds are to refinance some existing debt and for general corporate purposes. There was no breakdown on that allocation. Fifty million in notes mature in May 2018, $150 million in May 2020, $150 million in May 2023 and $50 million in May 2025. I look forward to covering developments when that happens. The sale came as Sage was also modifying its capital base for reasons that were not spelled out in the information coming out of the company's general meeting, at which changes were approved. Shareholders approved a reverse split in which every 81 shares becomes 77 shares. That boosts the stated price of the shares from 1 pence each to 1 4/77s each. But since that's not the trading price, I could use an explanation of what this accomplishes. Having fewer shares would raise earnings per share, so it would have some publicity value.