Ann: Application for quotation of securities - LM8, page-6

So mate based on your post...It is not a misunderstanding as you tried to call it, in fact your post proves the point and it only started off with a misleading sentence.

The total number of securities increased in excess of 65Million and there is a majority shareholding by directors and St Ives...who at all costs would be aware of any results making it to the market prior to release to the market via an ANN...the best they'd do is say "Oh there may have been a leak" and get on with it when the going gets tough. Also you have a clue on what other securities are unqouted ?

It is not a bad thing to have a holding in the company one is directing but it is bad beyond a certain percentage, a percentage where it starts seeming like a private business operating as a public one. I haven't had great experiences when too much control resides hence the skepticism. I've seen directors buy at 3 times the price in other companies but it is always just a "show" for confidence.

However, I genuinely appreciate the time and effort you put into the post, it was a genuine effort at trying to shed light for someone who may have overlooked. I still feel that it is way too overpriced in the current scenario.