Ann: Appendix 4D and HY19 Financial Report, page-29

I'm not sure I agree either. Just kind of speculating. From a capital allocation point of view, its cracking time to be buying back shares in the 20's. They were doing it a few months ago at prices 50% higher than today, so what's going on? My thinking is the cash may be earmarked/needed temporarily for another purpose. I don't know the purpose. Is it the accounts/report, some kind of staff payments/bonuses, upcoming bills/taxes etc. etc......... No idea. Are they worried it will make it even more volatile and thinly traded by removing shares? I agree with you and would have started the buyback too. As the largest shareholders, they probably haven't missed this point either. It's safe to say they probably won't in the next few days despite it being a great price so hopefully that policy changes in the new tax year or wishful thinking we'll see.....