delay to research

Whilst it would be great to see this research well underway, it is a seriously long-haul consideration from a shareholder investment perspective. A delay of months is of no significant consequence IMHO.

The imminent bus trials in India are far more market sensitive and as is the norm with EDE, the sp will stay in this range until the first buses are operational in Mumbi. Then we will see the jump, which we know happens from experience. It is likely that we will hear more from Greg Solomon re these trials soon, I reckon.

This announcement does not alter my personal long-haul expectations and the short-medium term positive prospects are unchanged. As others here have noted, the sp is gaining traction, probably due to these short-medium term expectations. Recent positive sp movements have not been attributed to the research in question.

The company has simply provided us with a realistic update re a very long term research project that is one aspect of the company. Concentrating on developments in more immediate commercial-sensitive projects sits ok with me.