Both of your comments are very valuable. My concerns are the...

Both of your comments are very valuable. My concerns are the following:

1. SHV has not outlined to anyone what the projections would be in 2013 or 2014. It doesn't need to but if it was to be a new listing it would have to. If we are to measure management I would have thought that an SRV type process would be very good. a company in transition can keep its share price at a fair value by communicating. This one like WBA does not.

2. There are two issues that collide - One is that 2013 you lose the management contract which services what I see as a bloated overhead based upon the seemingly ponzi scheme relying on a tax based investment not on fundamentals. In 2014 you lose the remainder of the processing you would have completed in the first half of 2013 for the 2012 crop. No-one has outlined how they will downscale and on top of that it seems that Olam will just be hand picking up those that they want to make offers to. In addition no-one has made it known what retrenchment costs we will incur.

3. Sorry but you dont retire and get sent on leave immediately with the non executive chairman taking on an executive role unless there is something that has occurred that has made it untenable for the outgoing guy to be there. To speculate - maybe its Olam who has bought him and he is retiring to pursue a career with them. That's a most likely scenario - or maybe he doesn't want to cut the business down to size. There is another scenario that is too scary - that there is some major problem and that they are trying to get to grips with it before telling the shareholders.

I sold off about a third of mine on the half year announcement and will ride the rest out I think there are some rocks in the road and I feel that we dont have adequate information.

I dont think this rates a spe4culative buy even - I think right now shareholders are deserving of far more frank and open information.