Ann: Restructure and Cost Reduction Program to Achieve Cashflow, page-29

I think the debt is at 8.6m now. They have been paying it off.

I believe the big sell off is more to do with David leaving than the actual cost cutting. Everyone knew they where going to cut costs as was announced in july but no one expected David to leave. Many people will view him leaving as him bailing a sinking ship. Personally i believe its more to do with cost cuts which the review would have flagged davids high wage.

The cost cuts are big and should put LVT in cash flow and even profit if we go by last financial years number. Even if we lose a few million in revenue we should still be profible i believe. I dont think david would be leaving lvt in a bad shape since he himself has about 60m in shares so he has a lot to lose.

The 4C will be a very good indicator.