giving up, page-3

Yes. Among other things.

Only 2 directors meetings for the year (plus 2 for the audit committee).

Lack of explanation of dealings in equities - there were further purchases and the numbers did not appear to add up (they sold and impaired more than they had at the start of the year, plus seemingly bought some and booked an improbable level of gain - or at least that is how I read it). When I sent a query, I was advised that they were working hard and could not disclose anything else.

The top twenty shareholder list looks to be straight out of last years report - I don't believe it can be correct given the size of trades that have gone through in single parcels.

Not to mention that all talk of a dividend now seems to have evaporated, when there really appears little excuse for not paying one - although granted it doesn't hurt to conserve cash in the current environment.

In some respects, these issues appear minor relative to their improving profit performance, but I think the facts are tending to suggest that they are not serious about being a listed company or interested in non-family shareholders. If that is the case, then given they could buy out other shareholders for less than a years worth of salaries and profits, perhaps they should take it back private again.