Ann: NCA - Cessation of Receivership, page-10

I'm not so sure I fully agree with you on this, though if I do look at it cynically then I can see where you are coming from.

The initial hype and meteoric SP rise, is that the fault of the company or the fault of the market itself? They didn't create the market IF hype, they simply transitioned their business to the IF and FMCG space. Is it their fault that it went crazy as everyone wanted to ride the next A2M or any of the other peers? I don't think you can hold them to that one.

I don't think the other announcements have been necessarily around pump and dump, certainly as stated several times the Directors share holding value has been dumped to the tune of multiple millions, I see no plausible reason for them to do this deliberately.

What I do see are some announcements lacking in detail (with some legitimate concerns raised by some posters here), not being on the front foot regarding NCA (though that's potentially just a hiccup now) and some fluffy announcements ahead of the last meeting (cynically to get the SP to where it needed to be for the CR).

But on the whole, the narrative of the announcements overall is still painting the picture of the FMCG business with IF interests. I don't think that's pump and dump by management. I also see the market realising that it put the cart way before the horse with the initial SP rise and MC. That was speculation and hype. We're probably fair(ish) value for right now, maybe on the low side due to some setbacks in confidence. Hopefully they can start to deliver on the announcement content, which will remove some of the speculation and hopefully justifiably increase the MC.