chairman's address - rail, page-4

Well lets hope DF can back his words up and deliver.

AGO are a growing company with mid tier ambitions, yet they are generally dealing with large cap players for an access deal or for rail investment. This has got to be difficult, as the AGO hand is about future opportunity rather than current strength.

I invested in AGO a year ago because I thought that their strategic moves thus far were smart and that their current relationship strengths throughout the industry may enable them to complete the required deals.

The last year has been frustrating as most of the market premiums priced in for either access deal, or rail ownership, ,or JV, or takeover have completely eroded.

This address from DF props up my waning hope, so I will hand in a bit longer.

FT