Ann: Investor Conference Presentation, page-6

In retrospect Milne,s advice last year to sell was good advice, most of us dismissed it however, I bailed out after the last report and took my losses (substantial). For a number of years I thought this company was ripe for a management buy out but it has never occurred and I suspect the reason is that they dont have enough confidence in their own predictions to risk it.
The best outcome now I think would be a takeover but no-one seems to value this company even at the current share price so I suspect it needs to lose further value to entice a bid, thats my view anyway but do your own research