No stuff up Turps - there are some shareholders here with very...

No stuff up Turps - there are some shareholders here with very strong contacts in the European dairy market - far more solid that IAH's, and they looked seriously into the viability of bidding for the European TPM exclusive license before IAH did but concluded that in order to get the products to market it would take approx 2-3 yrs to jump through the required regulatory hoops. This was discussed at length with Harry firstly and subsequently Rob saying there was no way to avoid this so if IAH were suggesting anything different to POH then they were either misleading the regulators and therefore POH needed to protect itself as they could do without another PR disaster, or IAH didn't yet fully understand the requirements of the European landscape. In hindsight I would suggest it looks like the later, but this should have come as no surprise at all to POH's management.