Ann: Change of DIrector's Interest Notice, page-7

My view has always been there is risk in whether the full amount of the sale proceeds of the trustee business will be realised.
It is always open to an acquirer of a business to revisit the price payable with the vendor. There are covenants about the information being accurate and complete. They can argue that things did not turn out quite as expected. If any trustee client decides to walk (for what ever reason), the purchaser of the business can argue about the warranties and try to drive down (renegotiate) the price / amount ultimately payable. The purchaser has already played hard ball by inciting on renegotiating the deal from when agreed about Feb 19 and delayed until the NEW deal was announced.
Lets wait to see all of the money being received without any argument at the end of November.
Then the continuing promises about new business and business model etc. We have heard this '40 mile' type stuff for the last 3 years. The management (leader) is slick with words and has over promised and under delivered. It should be the other way round, under promise and over deliver. The Board is also complicit in this failure by allowing announcements of dividends etc then not delivering.
February 2020 has to be when there is some clarity about whether the current management has what it takes to deliver consistent performance.