One of the larger holders continues to top slice and to be far to them they are being pretty responsible about it. When they are done I think we will fly. No indication to date of what is to be done with excess cash, I suspect a divi is unlikely, unless at a token level, a buy back maybe ? I think we are more likely to see ongoing organic investment or maybe some bolt on M&A. As long as use of cash are carefully considered and not reactionary I am happy to back managements best judgement.
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