Ann: Trading Update, page-7

These shares are so closely held that is why it is low volume. The major shareholders and institutions have no way of getting out - who would buy large quantities bar the major shareholder?

I disagree that things have turned quickly - that is what mangement is all about: understanding the challenges of your business and putting in place strategies to mitigate and telling the market as soon as you are aware. The current CEO has been there a while now - more than 12 months is more than enough time to "put your feet under a desk".

How can the introduction of a new ERP system assist in managing this downturn in any way? How much money is the implementation of a new ERP system costing a business that is facing such a serious downturn? And based on the cycle of business - the second half of the year is much weaker than this half - so results could be even worse second half.