Ann: SGH advises Watchstone Group Plc of claim under SPA-SGH.AX, page-145

I haven't been waiting for the £1 because I don't think it's going to be paid out (in full anyway). I've only got 15k shares there and a much bigger holding here, thinking it was a good recovery play.

I no longer think a timely recovery is to be expected because (to me) the desperation this claim signals makes bad reading. I also expected a faster cash turnaround than most recent accounts indicated. The jury is therefore still out on the credibility of SGH's much fabled recovery plans.

The fact BH still hasn't taken up the role of director is a concern. He must surely have been offered it by now. He can't have joined SGH to take a demotion.

I intend to reduce but not get out altogether, having reassessed the risks involved. I don't say I'm right - I'm just going on instinct and numbers. Sage advice would be to listen to what I intend to do, then do the opposite. Should guarantee you success.

I'm still on the side of LTHs here - they deserve a decent outcome but are unlikely (imo) to get it while AG is in charge.