My interpretation is that the SP drop is predominantly due to...

My interpretation is that the SP drop is predominantly due to the Ingena bonus shares coming onto the market as UXC Ordinary shares and holders (such as myself) realising their positions as our positioned just jumped 25%.

In addition, looking at the Appendix 3B announcements, some UXC-IPS share holders are now converting their UXC-IPS shares into UXC Ordinary shares now that the 25% bonus shares have been achieved, and these shareholders are likely to sell down their positions.

Just read GL's chairmans letter at the front of the recently released AR and if you're like me, you'll get a sense of big things ahead for UXC.

During the 2nd half of FY09 they have significantly lowered their cost base and are still predicting an increase in headline sales revenue to $800m for FY10 (up from around $700m in FY09).

Margins will be a lot fatter this coming year and I would expect another record year all round.

Also note another big potential smart meter deal in the pipeline.

Cheers
John