Ann: Appendix 4D & Half Year Financial Report, page-37

…..after holding for approximately 10 years I recently sold out simply because of that lack of dividend info. I got in originally due to the decent dividend stream and believed that once debt was in control they would reinstate dividends. I believe it should and could easily have been reinstated 12 months ago. The fixation on removing the debt totally is just silly now. As for the call of a potential 10% buyback I initially thought was a good idea but still would have rather had the dividends but alas, we can clearly see that is not going to be possible to get the 10%. The sceptic in me tells me this simply was to avoid the dividend discussion. Up until the dividend cut SWM was mostly a dividend play.

As for the interest in realestate that may work out but I no longer have the patience’s to wait and see.

When things begin to slow down I personally think it is a good strategy to get some income back to reinvest where the investor believe it suits them best.

Good luck all.