yes that’s right. It’s really hard to get a handle on cash flow generation until you get q4, because it’s such a distorted skew and also so much WIP distortion as well.
I wouldn’t be too worried about a hostile takeover - that requires 90% of shares and Geoff Lord on his own can almost block it. Add a few directors, Kurt etc and they can block anything. So it’s only going to go through if the deal works for them…..
