take over ann, page-10

re: annual report...update sale of Spanish assets misleading - it basically worth nothing and will cost them fees to dispose of it.

Australian operation losing a lot of customers, and they now have too many employees for that reduced no. which means profits are falling fast.

Ireland doing ok, but also hit by some litigation, so its a bit in the air at present.

Lewis offer still in due process and may take some time to eventuate, or OTL may quash it as per previous take over.

current price probably as good as it gets, if you want to get out before OTL make their move...........