In addition we have pretty small freefloat outside the top 40,...

In addition we have pretty small freefloat outside the top 40, most of whom seem to be fairly static, so largely committed holders at around 75%. That leaves 25% or about 105mn. from this you have to deduct all the shares held longer term by equally committed smaller shareholders like us. Who knows how big this number is? I would think though it is quite a big chunk of the remaining 25%.

We have recently had a big dump on high volume which will have seen the exit of a lot of shares being held by loose hands. The buying was there though, I would love to know who some of those buyers were, they can't have all been Mums and Dads as some of the trades were quite large.

Anyway another chunk of that 25% would have been absorbed on dump day as well, that's my point, and if it was bought the same reason as the rest of us then you have a further chunk to deduct from the remaining 25%.

So you see there is really very little supply available which will really help turbocharge the upside, when we finally get some tangible news.

Plus a much smaller herd of shares in loose hands on the register.

EB