Ann: Annual Report, page-36

BOZ,

Allow me to be difficult and sound slightly pompous but again, your post consists of the usual exclamation of distress, a statement that the share price is 0.1cents and a disparaging remark about management. These are all reasonable observations of course, but again no ‘whys’. There’s no deeper analysis.

Well yes, I did rather infer that “the customers may change their minds” is seemingly the mantra moving forward. I think you’ve summarised that quite well. PC has inferred the same. And in answer to ‘how long do we have to wait’... well, I really have no idea but I have been consistent in saying that it may take years. I got a cold shiver running through me when I first watched Peake Practice interview with PC and MF. The air seemed to come out of the interview, body language appeared awkward and there were some grimaces amongst PC and MF when the interviewer asked about cultural change. In my mind I thought “These guys haven’t got a clue about cultural change” and I marked it in my mind as a likely rate determining step in the business acquiring success.

Look, I have similar sentiments to you. I believe the chances of success are probably less than 10%. You probably believe less than 1%?

I just want to discuss the ‘whys’ of the game.

WB