Ann: Appendix 4D & Half Year Financial Report, page-36

Totally agree. Whilst historically it was run as a company with all investors in mind, since the (then necessary) cessation of dividends, then the COVID induced share price crash, I think the major shareholder is viewing the longer term strategy for their investment in SWM through a different Lense.

As I postulated in an earlier post, it I suspect it would be in their corporate interests to keep this share price down (so no divs, etc), repay the last of the SWM debt this year and then take over the balance of equity interests at a discounted price so they can fully consolidate the (then unencumbered) cashflows into SVW.

I hope this is not the case and they do open the purse strings for dividends this year (as I am a long term shareholder), but I am closely watching every nuance through very clear glasses rather than just sit and wish.