Ann: Change of Director's Interest Notice - Clayton Howes, page-3

$1.50-2.00 down to $0.07. Mainly because of the SocietyOne acquisition, funded by short term debt that they couldn't repay.

A lot of that SP is never to return, as the dilution has already happened. So needing a 'from this point on' perspective.


Still bad on the 12 month chart, but flat for the past 10 months. Some profits have been showing in the HY reports, but margins (between bad debts and NIM) have been looking slim since the contraction in NIM after rotating to secured loans. It looks sort of positive, but it's hard to trust it.