Litchfieldvet,The reason that people don't simply sell down the...

Litchfieldvet,

The reason that people don't simply sell down the Ltd and buy the plc is because you're then taking pound currency risk, which in the recent past has been horrible versus high yielding currencies like the AUD.

However, I think you'll find that AUDGBP is at multiple decade lows, so it could possibly be the time now to make that trade. Marius Kloppers was point blank asked about whether they would change the DLC structure to remove the discount - basically no plans to do this.

So you're not going to get the company itself closing the gap, market will have to do it. You'll get a better dividend yield though, but in theory should be equiverlant because the currency yield is lower.