Ann: Appendix 3Y Change of Director's Interes, page-9

re: Ann: Appendix 3Y Change of Director's... Good question Manila - I assume you mean the announcement of Ceasing to be a substantial shareholder?

I can only speculate. It seems they've reduced their holdings by several million in total since March but where have they gone? If it was position restructuring it would presumably be going to a related party which is not indicated in the announcement.

There have been some big sell orders in last couple of months which evidently was them. Equally those have usually been picked up in whole so someone is happy to buy. All we really know is that the buyer was not a director or a party currently holding substantial shareholder status.

Probably nothing to worry about - be concerned if John Tilbrook/Willowbrook decide to try to get out! Speaking of which do any of our connected fellow holders have any inkling where John Tilbrook stands on strategy going forward and also on the appointment of William Bloking?