Ann: Change of Director's Interest Notice, page-11

Welcome to the 'other side' Daicos. IGL looked good when Ovato was bought but there were a succession of additional costs in bedding it down that weren't understood at the 'get go' which turned a great deal into an okay deal. Lasoo is, as I have banged on for quite some time, a dead set 'dreamtime'.

I am also very sceptical of the way they report matters - I hate the word 'normalized' and IGL use it a lot. Statutory NPAT is what counts and this is always a dififcult figure to project ahead for IGL because they have so many adjustments to make.
Tthis is one company that looks good on paper, but the future really takes some extra clarification and I don't think this management team can pull it off. Plus, the dividend which looks very attractive is unsustainable.
As you say, Sellig believes he has found a better use of his funds elsewhere, and I agree with him. Thankfully, I got into IGL aournd $1.65 so it hasn't been a disaster, more a lost opportunity which i believe will be fumbled by management.