Ann: RXP AGM Presentation, page-12

Yes but why is the donkey so unloved by the market.

There has been a lot of selling pressure with Regal Funds Management selling down its substantial holding last year and Borrowing more shares screened by The Bank of America Futures Fund presumably to short those also.

While that is going on in the back ground we get an 8m share short fall in the underwritten reinvestment plan so all those shares are still overhanging a market which on average is trading only 50k shares a day.

Unlikely to see any upward movement to a decent PE ratio until Regal have finished playing their destructive games and the underwriters subs who don't really want to own the stock have cleared their back log.