ACL Future, page-2

4-5% is a considerable stake Mr Dog. I think I have about 0.25%.

I am not invested due to any value I can see in the HA platform, but I don't share your view on Fonda. I believe there is a battle on in this territory at the moment and it will perform better in the future. Anything that can be salvaged out of HA will be totally left field for me, though I've not ruled that out. The value of my holding at the moment is mostly in the tax losses, and they will ensure I pay no tax for many years to come so a few % one way or another isn't much of a worry while I see what might be done. The benefit from my selling is dwarfed by these, being 93% down based on my remaining holding on F day, and about 80% down overall.

I personally doubt Sandon will have the skills to extract value from HA, but you never know. Though we may not have the staff on the payroll to pull this off, they can still be re-hired as consultants if needed.