Ann: Half Year Results Presentation, page-6

My hands are part paralysed so l dictate a lot and often my responses look badly written .. l am getting older and cranky so l just mutter to myself. My responses tend to be brief.

EVT is a property play primarily; using its properties the returns over the last five or so years have been very average ie the ROE shows this.

in addition cinemas and snow are not future growth areas. You are unlikely to get noticed by those after higher return. Yet it’s a solid business and they have a good hotel network.

generally it’s received positive broker commentary (on one web site 3 brokers rate it a buy). Currently it’s a stable business earning basic income, with extensive property holdings in key areas.

As they unlock (sell) some of the properties for reinvestment the market is becoming much more enthused and you are seeing a spike and share price.

I don’t know whether it’s lost decade. I think that’s the wrong way to look at it. It’s been a slow moving stable portfolio position. It now has the capacity to spike.

longer-term we will have to see what they do with the funds realised from the sale of some properties.

these are my brief thoughts, please excuse any grammatical errors. The dictation function is not easy on this phone.