nov top 20, page-7

Thanks Emu, with this correction it seems that it really was only the institutions that adjusted their holdings and not by much either. Suggests everyone is sitting - not indicative of a problem or any impatience with having to wait a bit longer. I don't see a problem, am trying now to pick up some more PENOC at the extreme discount on offer.

You know, I wonder about the performance shares issued to directors and the MD. Would this put them in a better position should there be a PALA or other sponsored takeover, depending on the price offered, obviously? I wonder about the definition of performance. Perhaps it is future performance and not we would normally expect. If it delivers a decent takeover price, I will be happy. Just musings.