Ann: Trading Update, page-5

Quite possible I'd say stayer.

That said, I'd say the listing costs paid for themselves a few years ago when they did that large capital raising (rights issue). The funds raised were invaluable in turning the company around, enabling SRH to go on the front foot after quite a few years of relentless economising/downsizing. Mind you, the directors themselves chipped in around 30% of the funds raised, so your point stands to some extent.

You never know if or when the board might want to go to shareholders again for funds. There may be no perceived need currently, but I've no doubt business opportunities will present themselves - and it's probably not bad to have the option of going to shareholders instead of the bank.

Another thought is that the listing and compliance costs will shrink in significance as revenues and profits grow, as we're all expecting them to.