At the beginning of 2012, our Board established financial policy guidelines that we believe will strengthen our credit profile. A primary component of our financial policy is a target balance sheet net leverage ratio of between 3.50 and 3.75 times. Our Board expects that our net leverage ratio will gradually decrease from its current level to its targeted level as we continue to seek to generate cash by improving our profitability, disposing of non-core assets and businesses and maintaining a prudent capital expenditure policy. Our financial policy is subject to exceptions, including in the case of sizeable acquisitions, though we currently believe such exceptions would be of a temporary nature. Our net leverage ratio at a given point in time depends on a number of factors, and there can be no assurance that we will be able to achieve or maintain our target net leverage ratio or other financial policy objectives. You should be aware that a number of important factors could cause actual results to differ materially from these plans.For a discussion of some of these risks and uncertainties, refer to the section titled "Information Regarding Forward-Looking Statements" within our "Management’s Discussion and Analysis of Financial Condition and Results of Operations in 2011" report available by registering on our Investor Relations website, accessible athttps://investor.agrokor.hr/ .