Ann: Response to Media Article, page-6

Dividend for 2nd half seems to coming in significantly below your estimate.
Any reason why?

Yes, I figured it out.

Almost half of their co-investments are in holiday and leisure funds, namely the Elanor Hotel Accommodation Fund and the Elanor Wildlife Park Fund, which I knew.

But what I omitted to consider what that January - the holiday month - was still heavily impacted by the lockdowns that kicked off just before Christmas and continued well into January.

So I simply forgot about that when I was guessing second-half distributions.

So, the reason the 2H distribution is so far from nothing to do with the company; just me who is a bit dim sometimes.

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