I will be taking up my offer although I do not expect any...

I will be taking up my offer although I do not expect any significant rise in the price short term.

The major holders making a commitment to support instead of having a broker underwrite the issue is a good saving however I believe that the "born again" management do need to engage with brokers to help restore some confidence in the stock. Recent years have seen HAV lacking any support from brokers and like it or not it has had a negative effect on perception of HAV as a company.

I expect the next corporate change will be to a smaller office although I would see a return to Flemington Street as a negative.