I am here... and still own more than 100 000 of them..hehe..No...

I am here... and still own more than 100 000 of them..hehe..

No need to post really cause this one is working out nicely.

Valued at less than 2 times EBITA....some would say its undervalued:) but in this market, its a matter of taking a number and waiting in line

I don't pay much attention to the stock price cause the weight of cash will show in dividends anyway, which currently above 10% yield but obviously can go much, much higher on this type of earnings flow.

Preferably, VTG would not pay out higher dividends and keep de-risking the business with the surplus cash

Debt is back up a little, cap ex has been high and thus high depreciation.......still the earnings are real and reflect underlying and continuing performance.

On the question of the 'write down'.......the acquisition of Next byte was a financial disaster

The write down of Next Byte has no financial impact whatsoever but merely acknowledges what many have known for a while......that Next Byte has been a disaster acquisition.

Funny enough, this 'tough medicine' has been taken by management precisely when they can afford it.....the business is tracking well..........next byte is actually now expanding off a better base....all is well, so take the write down and make the bankers happy