Hi There - @ Timbowls . Management were very frank and in fact...

Hi There - @ Timbowls . Management were very frank and in fact your info on Home HQ was almost word for word what I got from the TGP executive. I must admit that gave me a lot of comfort.

The essence of my request for info started with questioning why if you wanted to raise a lot of cash, why not let shareholders take up more than their allocation. The answer I got ( not their words but my interpretation) was that they did not feel that was fair on all shareholders. That they had sufficient support to raise what they needed but that was enough.

Whilst I did not get the mia culpa I wanted there was ( my impression) an understanding that they expected a bit more of the issues to have been sorted before now.

The plan is to expect interest rates higher for longer. To make the cash flows positive so that they get to the other side of this office valuations and occupancy issue.

The best thing I got was no attempt to defend what had happened but to listen to my concerns and to give me information but nothing that wasn't already out in the market place but more an insight into the decision process.

My process is to invest in management and to build my own models and see the upside and downside from my expected.

I have bought a fair amount of shares @40.5 c and a few @41c plus taking up my rights. I expect to see it in a better position 18 to 24 months out.