Ann: Noni B Recommends Takeover Offer by Alceon Group, page-7

Disappointed. Bought in to this undervalued and "off the radar" company some time ago anticipating 5 steps: 1 divestment of unprofitable businesses 2 reduction of stock levels 3 writing down assets to reveal performing shareholder funds. 4 improving consumer sentiment 5 increased profitability I believe we made it all the way through the first 3 steps and are on the cusp of the 4th. Stepping back and looking at the retail cycle now is a good time to by a business and a poor time to sell one. Will be interested to see the justification of value in the takeover document, but suspect this move relates to lack of motivation rather than compelling valuation.