advice needed, page-25

re: advice needed, smuggler Smuggler I find it hard to understand how a buyback is diminishing shareholder value. By resucing the number of shares on issue you are actually increasing the shareholder value especially if the shareprice is in an upward movement as in layman terms by reducing the number of shares by the company you are actually increasing your value in the company without spending your own money. Ok you are not getting the money in your own hands however your are increasing your stake in the company and as the shareprice increase this increases your net worth as part of that company. The reverse is if they issue more shares and you do not take up your proportion your percentage value of that company decreases.

A buyback is good and to utilise that buyback to alleviate panic as a result of some misinformation I believe is a good use of a buybcak.

I still agree with you that the company needs to give an update to the market on its current operations and that is the correct thing to do at this stage with all the conjecture regarding Safenet. They keep utiising safenets announcement when they are very positive so an announcement stating that maybe the revenue from safenet is not going to be as good as expected however other sales revenue should be viewed as very positive. If the safenet revenue is not affected then this would also be viewed as positive. The only time when it would not be positive is if the revenue from safenet is down and it has not been matched by other revenue then this would lead to a downgrade and given that the safent announcement was last week and every one has been talking about it then if the company came out now and said that it is going to adversly affect their guidance then I believe the company would be investigated and the management be under a lot of pressure.

For this reason I belieive that all we are going to hear is positive information in the near future and thus 50+c is cheap and why I have been purchasing at these levels.