Annual Financial Report and Notice of AGM

JTC PLC

18 April 2024

 

18 April 2024

JTC PLC

(the "Company" and together with its subsidiaries "JTC" or the "Group")

Annual Financial Report and Notice of AGM

Further to the release of the Company's final results announcement on 9 April 2024, JTC announces that it has published its 2023 Annual Report and Accounts and Notice of 2024 Annual General Meeting. The following documents are being distributed or made available to shareholders electronically today, Thursday 18 April 2024:

-      2023 Annual Report and Accounts

-      Notice of 2024 Annual General Meeting

-      Form of Proxy for the 2024 Annual General Meeting

In compliance with Listing Rule 9.6.1 copies of the above documents will be submitted to the National Storage Mechanism and will be available at its website once this process is complete: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Copies of the 2023 Annual Report and Accounts and the Notice of 2024 Annual General Meeting are available from the Registered Office of the Company (JTC House, 28 Esplanade, St. Helier, Jersey, JE2 3QA) and will shortly be available to view and download from the Company's website: www.jtcgroup.com/investor-relations/

Participation and Voting at the AGM

The Company's 2024 Annual General Meeting will be held at 9:30am on Tuesday 21 May 2024 at JTC House, 28 Esplanade, St. Helier, Jersey, JE2 3QA.

Shareholders are encouraged to appoint a proxy in order to vote on the matters being considered at 2024 Annual General Meeting. Shareholders may appoint a proxy via the CREST electronic proxy appointment service or by completing a Proxy Form to be lodged with Company's Registrar, Computershare Investor Services (Jersey) Limited, by post or electronically via the internet no later than 9.30am on 17 May 2024.

Shareholders are also encouraged to submit any questions they may have for the Board before the 2024 Annual General Meeting by emailing [e-mail] by no later than 11 a.m. on 17 May 2024. Please include the Shareholder's name and Shareholder Reference Number (which can be found on the share certificate or proxy form) in your email. Answers to the questions on key themes will be published on the Company's website (www.jtcgroup.com/investor-relations) on 20 May 2024.

Information required under Disclosure Guidance and Transparency Rule 6.3.5

In accordance with DTR 6.3.5, additional information is set out in the appendices to this announcement. The information contained in the appendices, which is extracted from the 2023 Annual Report and Accounts, is included solely for the purposes of complying with DTR 6.3.5. The information should be read in conjunction with the Final Results Announcement, released on 9 April 2024. This announcement and the Final Results Announcement together constitute the material required by DTR 6.3.5 to be communicated to the media in unedited full text. This material is not a substitute for reading the full 2023 Annual Report and Accounts. Page numbers and notes in the following appendices refer to page numbers and notes in the 2023 Annual Report and Accounts.

For further information, please contact:

Miranda Lansdowne

JTC PLC

[phone]

[e-mail]

Appendices  

A - Principal and Emerging Risks and Uncertainties

B - Directors' responsibility statement

C - Dividend Declaration

Enquiries  

JTC PLC                                                                       [phone]

Miranda Lansdowne

Camarco                                                                      [phone]

Geoffrey Pelham-Lane   

Georgia Edmonds

Sam Morris 

About JTC

JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all our stakeholders. Our purpose is to maximize potential and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.

www.jtcgroup.com

Forward Looking Statements

This announcement may contain forward looking statements. No forward looking statement is a guarantee of future performance and actual results or performance or other financial condition could differ materially from those contained in the forward looking statements. These forward looking statements can be identified by the fact they do not relate only to historical or current facts. They may contain words such as "may", "will", "seek", "continue", "aim", "anticipate", "target", "projected", "expect", "estimate", "intend", "plan", "goal", "believe", "achieve" or other words with similar meaning. By their nature forward looking statements involve risk and uncertainty because they relate to future events and circumstances. A number of these influences and factors are outside of the Company's control. As a result, actual results may differ materially from the plans, goals and expectations contained in this announcement. Any forward looking statements made in this announcement speak only as of the date they are made. Except as required by the FCA or any applicable law or regulation, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained in this announcement.

APPENDIX A - Principal and Emerging Risks and Uncertainties

The following description of the principal and emerging risks and uncertainties that the Company faces is extracted from the 2023 Annual Report and Accounts (pages 59 - 63):

JTC operates a Risk Register that aims to categorise its risks across six key (Level 1) risk types and 18 (Level 2) sub-risks. In reviewing these categories of risk, we have identified what we believe are the principal risks.

A principal risk is a risk or combination of risks we have assessed as having the capacity to seriously affect the performance, future prospects or reputation of the Group. These will include risks we consider could threaten our business model, future performance,

solvency or liquidity.

In addition, as part of our horizon-scanning activities we also identify risks that are not yet considered to be principal risks, but we identify as emerging risks - those that may, in time, pose a threat to the Group's business model. We have outlined these at the end of the section, and they include the global macroeconomic environment, ESG changes, ongoing regulatory developments, advances in the digital space and increasing financial crime threats.

The Group's principal risks are periodically re-examined and reported by the Chief Risk Officer to the Governance and Risk Committee with an assessment on (i) their impact if they were to occur and (ii) the likelihood of occurrence, together with a description of the controls and mitigation in place to manage those controls and any actions deemed necessary by the risk owner to further reduce the assessed residual risk.

LEVEL 1 Primary, overarching risk elements, containing SIX components	LEVEL 2 Represents the cohorts of specific risks JTC is exposed to	Principal risk
1. STRATEGIC	Acquisition	·
	Competitor and client demand	•
	Strategy	•
2. FINANCIAL	Performance of business	•
	Earnings (fx)
	Impairment
	Financing
3. OPERATIONAL	Client & process	•
	Business continuity
	Data security	•
4. POLITICAL/REGULATORY	Listing rules
	Political/regulation	•
	Financial crime	•
5. LEGAL	Litigation/contractual
	Fiduciary	·
6. HUMAN RESOURCES	Adequate resources	•
	Retention
	Key person

PRINCIPAL RISKS

The Group's current principal risks are the risks we are managing now that could stop us achieving our strategic objectives:

	PRINCIPAL RISK (RISK OWNER)		POTENTIAL CAUSES		KEY MITIGATION MEASURES		TIMESCALE
1	ACQUISITION RISK (Group Chief Executive Officer) The risk that acquisitions do not achieve intended objectives, give rise to ongoing or previously unidentified liabilities, disrupt operations and divert senior management time and attention.		•   Inadequate due diligence •   Economic misjudgement •   Lack of strategic clarity •   Ineffective or delayed integration •   Unpredicted changes to external environment		•   Strict due-diligence process, including JTC subject-matter experts and third-party assessments by experienced external advisors •   Appropriate scrutiny and challenge from Group Development Committee, Group Holdings Board and Non-Executive Directors •   Established and tested integration strategy agreed prior to acquisition with robust post-acquisition governance •   Experienced management team •   Shared Ownership to align interests and deferred consideration •   Insurance run-off cover •   Vendor representations and warranties (backed by insurance where appropriate)		This risk will diminish over time as each acquisition is integrated, but current strategic intentions are likely to cause this risk category to remain as a principal risk.
2	COMPETITOR AND CLIENT DEMAND RISK (Group Chief Executive Officer) The risk of failing to anticipate client demand or to innovate in line with key competitors, or advancing technology or regulatory/political change may lead to significant loss of potential or existing business. JTC operates in a competitive and fast-paced global market requiring a responsive approach to client demand and behaviour, competitor activity, innovation, economic and regulatory changes and geopolitical events.		•   'Black swan' events (e.g. pandemic) •   Competitor actions •   Political trends •   Economic conditions •   Market conditions •   Regulatory changes •   Technological changes		•   Group Holdings Board responsibility for identifying forthcoming requirements in respect of digital and business systems investment and continually considering emerging threats due to market conditions, taking mitigating action as appropriate •   Group Holdings Board responsibility for identifying and prioritising product innovation •   Group Commercial Office to assess, prioritise, de-risk and commercialise opportunities		This risk is largely influenced by external factors and is therefore likely to remain a continuous principal risk
3	STRATEGY RISK (Group Chief Executive Officer) The risk that inadequate strategic decisions or failure to execute the set strategy has a detrimental impact on Group operations, clients and market confidence. Alternatively, the Group's strategy brings excessive risks to the business or does not sufficiently align to changing market conditions or client requirements, such that sustainable growth, market share or profitability is affected. The Group continues to pursue its strategy of organic and inorganic growth with a particular focus on building our presence in the United States, Ireland, Luxembourg and the UK.		•   Operation outside of risk appetite •   Product or service failure •   Senior management or leadership changes •   Legal or regulatory challenges •   Lack of understanding of a new jurisdiction		•   Overarching strategy is set every three to five years and progress is periodically re-examined •   Strategy regularly reviewed and challenged by Board and, as a listed entity, subject to investor and third-party scrutiny •   Strategy drives annual business planning process and performance- based targets •   Risk-taking and aversion in pursuit of strategic objectives is balanced through the setting and overseeing of the Group Risk Appetite		Strategic risk is an ongoing risk for any business and therefore is likely to remain as a continuous principal risk.
4	PERFORMANCE OF BUSINESS RISK (Group Chief Executive Officer) The risk that the Group does not meet its financial forecasts or does not achieve the provided market guidance. JTC is listed on the London Stock Exchange and subject to market consensus expectations that can influence shareholder value.		•   Inadequate budgeting and forecasting •   Unpredicted costs or losses •   Lack of information provided to brokers and analysts		•   Budgets set annually and agreed with Divisional Heads, Jurisdictional Managing Directors and P&L account owners •   Monthly reporting and KPIs that help monitor performance against performance assumptions and targets. Active review by Group Holdings Board together with PLC Board •   CEO and CFO regular engagement with analysts to inform external market guidance •   Insurance cover for losses		Business performance risk is an ongoing risk for a business, especially for a quoted business. This risk is therefore likely to remain as a continuous principal risk.
5	CLIENT AND PROCESS RISK (Group Divisional Heads) The risk of the Group taking on the wrong type of clients, or the Group or the client's actions during the client life-cycle leads to losses, failed strategic objectives, reputational damage, poor customer service and employee frustration and potentially regulatory censure. The risk of failing to clearly define service provision or fulfil a role expertly. The risk that lack of relevant process or incorrect, inconsistent, or untimely execution of processes or internal change leads to a material operational error and the consequential adverse impact.		•   Failure to apply policies and follow procedures •   Failure to follow codes of conduct •   Failure of managerial oversight •   Failure to adequately train and develop employees •   Failure to identify and remediate identified issues promptly •   Inadequate policies and procedures		•   Strict adherence to policy and procedures including business acceptance and periodic reviews, with appropriate escalation for higher-risk clients / regular client engagement and understanding of clients' business activities •   Established Terms of Business, template customer agreements and Legal review of tailored agreements •   Regular staff training and awareness initiatives •   Established reporting and escalation process with review by boards and committees as appropriate •   Independent client and Compliance monitoring review programme •   Promoting a robust risk and compliance culture across the Group •   Ensuring quality administration and compliance resource in each jurisdiction plus internal legal counsel support as appropriate •   Well established Recommendation for Signing process •   Three-lines model for assurance and controls including Internal Audit ("IA") •   Well understood and defined Risk Escalation processes •   Accessible policy and procedure framework subject to annual employee attestations.		Client and process risk remains a continuous principal risk for the business.
6	DATA SECURITY RISK (Group Chief Information Officer) The risk of a security breach including cyber-attacks by from both internal and external sources, leading to loss of funds, confidentiality and integrity of data. The sophistication of cyber threats is constantly evolving; criminals will seek to exploit changes in working environments e.g. remote-working practices. A substantial cyber event could be detrimental to JTC's clients as well as erode market and regulator confidence		•   Unauthorised data transfer •   Malware •   Financial theft •   Denial-of-service attacks •   Cyber phishing attacks •   Network service failures •   Employee error •   Malicious employee intent •   Security breach of client data or systems •   Failure to follow procedures		•   Defined and audited IT procedures •   External security assessment conducted annually •   System access controls including least privilege access model •   Dedicated Senior IT Security Manager and Team •   Training including compulsory online Security Awareness courses for all employees •   Alignment to industry security standards •   Review of data security procedures and controls as part of the annual ISAE 3402 Report •   Access to group systems and data is granted on a need-to-know basis and least privileged •   Industry-leading solutions for end-point management, anti-virus, data loss prevention, Privilege Access Management and secure email communications •   Periodic penetration testing and testing of business continuity plans		Data security risk remains a continuous principal risk for the business.
7	POLITICAL / REGULATION RISK (Group Chief Executive Officer) The risk that the JTC business operating model is adversely affected by political or regulatory changes which affect the markets or services we offer together with our client base. Risk of exposure to regulatory sanction and subsequent reputational damage given a failure to follow regulatory laws, orders and codes of practice requirements. As the regulatory environment continues to develop, we expect a continuing global trend of increased regulatory scrutiny and intervention for all regulated businesses including trustee, fund and corporate service providers. The Group is well positioned to comply with relevant requirements and to be able to operate in this changing regulatory environment.		•   Geopolitical uncertainty and change of governments •   Regional or global standards or requirements with disproportionate impact •   Political reaction to wide-scale data leaks and associated negative press coverage •   Balancing increased transparency requirements with increased data protection legislation •   Challenge and cost of measuring, monitoring and demonstrating good conduct as well as meeting new requirements •   Keeping pace with rapid regulatory change and reporting requirements		•   Specialist risk and compliance staff with the skills needed to monitor and report on strategic outlook and the impact of change •   Review by appropriate boards and committees, and scanning of horizon for potential changes •   Comprehensive policies, procedures and processes in operation within the Group that align to the appropriate regulatory regimes •   Embed (and continue to promote) a robust risk and compliance culture across the Group from PLC Board down through the organisation •   Ensuring appropriate compliance resource in each jurisdiction •   Compliance monitoring programme in place •   Training employees to be aware of changing regulations •   Involvement with trade associations and government bodies to understand direction and influence outcome		Political and regulation risk is expected to remain a continuous principal risk for the business.
8	FINANCIAL CRIME RISK (Group Divisional Heads) The risk of the Group operating inadequate systems, procedures and controls that fail to prevent the administration of client structures that are exposed to financial crime. (NOTE: Financial Crime Risk includes money laundering, terrorist and proliferation financing, sanctions, fraud, bribery and corruption and tax evasion risks). This is an area where there is intense regulatory attention and scrutiny. The Group is committed to the highest standards of ethical behaviour and operates in a manner designed to deter and prevent financial crime risk. There is focused oversight and monitoring of financial crime risks, and adherence to both internal financial crime policies and regulatory obligations.		•   Poor culture •   Inadequate awareness training •   Poor Know Your Client processes •   Inadequate record keeping •   Deficient screening processes •   Lack of a risk-based approach •   AML/CFT/CPF arrangements not tailored to business profile/ characteristics •   Procedural failures •   Failure to report suspicious activity on a timely basis		•   Comprehensive policies, procedures and processes in operation within the Group that are specifically drafted for AML/CFT/CPF purposes •   The hiring of capable employees in each jurisdiction that undertake the key person roles (e.g. Compliance Officer and Money Laundering Reporting Officer) •   Frequent mandatory staff training and awareness initiatives and CPD requirements •   Compliance monitoring testing programme in place •   Access to external consultants and databases to enable daily ongoing monitoring and in depth enquiries on clients as appropriate •   Established Business Risk Assessment (BRA) process which is subject to periodic Board review •   Authentication protocols to verify the identity of instructing third parties		Financial crime risk is expected to remain a continuous principal risk for the business.
9	FIDUCIARY RISK (Group Divisional Heads) The risk of breaching fiduciary duties, including failing to safeguard client assets, can be harmful to the Group's reputation and could become subject to high-value litigation. There is also the risk in failing to clearly define the Group's role in providing services to a client structure or service vehicle or a failure to fulfil the role expertly. JTC operates a comprehensive set of controls to prevent risk materialising in relation to its fiduciary duties. A change in the market conditions causing lower valuations of higher-risk investments, could change risk exposures and fiduciaries may begin to experience increased regulatory scrutiny and litigation with regard to responsibilities.		•   Breach of duty •   Failure to act in accordance with constitutional documents or service agreement •   Failing to exercise reasonable care, skill and diligence •   Failure to declare interests or manage conflicts •   Making partial judgements		•   Strict policies, procedures and processes in operation within the Group (particularly risk escalation and recommendation for signing policy) •   Qualified and experienced staff operating within '4-eyes' control parameter •   Continuous training programme and CPD requirement •   JTC does not provide legal or tax advice to its clients •   Significant insurance cover		Fiduciary risk is an endemic feature of JTC business operations and is expected to remain a continuous principal risk.
10	ADEQUATE RESOURCES RISK (Group Chief Operating Officer) The risk of failure to attract or retain the best people with the right capabilities across all levels and jurisdictions. The repercussions of the global pandemic have significantly altered the workplace and the employment market in many jurisdictions. Remote-working practices initiated during early lockdown measures have been embraced into business-as- usual flexible working arrangements utilising the Group's existing strong technology capabilities. Regretted attrition is carefully monitored in view of changes in employee attitudes, skills shortages and inflationary pressures that have the potential to be disruptive to the Group's workforce. JTC continues to focus on employee satisfaction (launching an annual employee survey in 2022, which was repeated and further developed in 2023), succession planning and personal development, including supporting professional qualifications.		•   Uncompetitive remuneration •   Unappealing working environment and inadequate support •   Lack of adequate succession planning •   Failure to invest in appropriate and timely talent development •   Failure to identify roles most essential to achieving strategic aims •   Failure to identify the required skills for key roles •   Insufficient focus on attitude and motivation and alignment with JTC's vision and values		•   Dedicated in-house human-resource recruitment capability with detailed understanding of business needs and local market environment •   Recruitment strategy to enhance and bolster teams, succession planning and employee value proposition •   JTC ensures that the remuneration package is competitive in the marketplace and benchmarks with peer group •   Management monitoring of capacity and work loads •   Shared Ownership scheme embedded across the business •   JTC encourages a strong management culture where talent management and people development is a core focus •   Pre-employment screening •   Internal and PLC Remuneration committee •   Staff access to Academy (Training), Gateway (International Transfers) and wellbeing programs •   Flexible working arrangements		Adequate resourcing risk is expected to be a continuous principal risk.

EMERGING TOPICS AND RISKS

As standard procedure, we consider topics or risks on an ongoing basis that may have unpredictable and uncontrollable outcomes directly or indirectly (via our clients) on the Group that we do not yet consider to be principal risks, but may, over time, pose a threat to our business model. Some of these topics or risks may be interconnected and remain under review over a sustained multi-year period whereas others may be short-lived.

EXTERNAL FRAUD

Financial Crime is already recognised as a principal risk by the Group and measures are in place to manage this critical risk. However, advances in technology and criminal sophistication do present continued increased risk of financial crime. Industry statistics and surveys issued during 2023 recorded increased instances of fraud where criminals increasing in order to keep pace with innovation. In some cases, regulation is also becoming more fragmented and complex, requiring more resources to ensure ongoing compliance.

Data protection risks are already recognised as a principal risk but remain on the increase driven by highly organised and sophisticated threat actors, with developments such as ransomware as a service. During 2023, advances in AI large language models and their general availability began to emerge as a disruptive force offering opportunities to enhance customer service delivery but also presenting increased threats to data security. Additionally, whist quantum computing has not yet reached the stage of widespread practical use, the processing speed of such systems create new risks in terms of encryption security and the need for quantum safe cryptography.

We seek to mitigate these risks by closely monitoring developments in this area and adapting our systems and practices in line with progress. We ensure our data protection standards are aligned to international standards and stakeholder expectations including specialist data protection systems and personnel, business continuity and incident response plans. seek to capture control of communication systems in order to fraudulently gain access to an individuals' or entities' assets or otherwise deceive them into a transaction in the belief they are dealing with a genuine counterparty.

We mitigate against these risks with measures designed to protect our systems and advise our clients on fraud awareness measures however we recognise the increased activity in this area and will continue to consider measures for enhanced risk mitigation for the Group and our clients.

DATA AND DIGITAL

The proliferation of technological innovation such as AI large language models, quantum computing and digital currencies are altering the risk profile of the financial sector and the convergence of these measures pose an increased risk of unintended consequences.

Regulatory requirements and client expectations relating to data management and quality, including data protection and privacy, data sovereignty, the use of Artificial Intelligence (AI) and the ethical use of data are increasing in order to keep pace with innovation. In some cases, regulation is also becoming more fragmented and complex, requiring more resources to ensure ongoing compliance.

Data protection risks are already recognised as a principal risk but remain on the increase driven by highly organised and sophisticated threat actors, with developments such as ransomware as a service. During 2023, advances in AI large language models and their general availability began to emerge as a disruptive force offering opportunities to enhance customer service delivery but also presenting increased threats to data security. Additionally whist quantum computing has not yet reached the stage of widespread practical use, the processing speed of such systems create new risks in terms of encryption security and the need for quantum safe cryptography.

We seek to mitigate these risks by closely monitoring developments in this area and adapting our systems and practices in line with progress. We ensure our data protection standards are aligned to international standards and stakeholder expectations including specialist data protection systems and personnel, business continuity and incident response plans.

REGULATORY DEVELOPMENTS

Regulatory scrutiny and intervention remains a continuing feature in many of the markets where we operate. With many regulatory regimes subject to assessment by international standard setters, there remains a constant introduction of new regulations and regulatory powers that are considered necessary to meet the assessment standards causing an inevitable increase in the cost of compliance. Failure of a jurisdiction to achieve an acceptable assessment rating can be detrimental to businesses operating in those jurisdictions.

2023 witnessed a number of instances where the actions of regulators were subject to formal challenges that there had been a disproportionate reaction to regulatory breaches, with claims that the over-reaction was driven by pressure on a jurisdiction to demonstrate the effectiveness of the regulatory regime to international assessors.

The Group seeks to mitigate these risks by positively engaging with its regulators, undertaking proactive horizon scanning, actively engaging, where appropriate, with regulatory consultations, providing thought leadership to regulators/legislators and operating to the highest regulatory standards.

GLOBAL MACROECONOMIC

Global macroeconomic developments and geopolitical tensions heightened by the ongoing conflict in Ukraine and Gaza, persistently high inflation and cost of capital, the energy crisis, supply chain shortages and the impact of a global economic downturn all point to a greater fragility that is slowing investment and global growth. Whilst the Group is unable to control these risks we remain vigilant to their impact and react accordingly e.g. to attract and retain talent in a competitive employment market beset by wage inflation.

ENVIRONMENT AND SOCIAL

There remains an increase in stakeholder expectations around the provision of services to sensitive sectors, fair and balanced disclosures relating to environmental targets and scrutiny around greenwashing set amongst a fragmentation in the pace and scale of ESG regulation around the world which adds complexity in managing a global business. Whilst this scenario poses business opportunities for the Group in the form of our Sustainability Services proposition, there are risks if the Group is required to align to new fragmented regulations quickly. We seek to manage these risks through our existing Group ESG Framework and the appointment of a Group Chief Sustainability Officer.

APPENDIX B - Directors' responsibility statement

The following directors' responsibility statement is extracted from the 2023 Annual Report and Accounts (page 116):

We confirm that to the best of our knowledge:

·      the Financial Statements, prepared in accordance with the applicable set of accounting standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the undertakings included in the consolidation taken as a whole; and

·      the Annual Report and Financial Statements includes a fair review of the development and performance of the business and the position of the Company and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.

We consider the Annual Report and Financial Statements, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the Group's position and performance, business model and strategy.

By order of the Board

Approved by the Board on 8 April 2024 and signed on its behalf by:

MIRANDA LANSDOWNE

JOINT COMPANY SECRETARY,

JTC (JERSEY) LIMITED, COMPANY SECRETARY

APPENDIX C - Dividend Declaration

The financial statements set out the results of the Group for the financial year ended 31 December 2023 and are shown on pages 123 to 161 of the 2023 Annual Report and Accounts. A final dividend of 7.67 pence per Ordinary Share is recommended by the Directors. Subject to approval at the 2024 Annual General Meeting, the dividend will be paid on 28 June 2024 to Shareholders who are on the Register of Members at the close on business on 31 May 2024. The shares will become ex-dividend on 30 May 2024. An interim dividend of 3.5 pence per Ordinary Share was paid on 20 October 2023.

 

END