outside the square, page-3

Hi
Sorry I tend to use Geoff Lord and UXC as the same entity, yes as you correctly point out UXC does hold the ITE shares. UXC has a book value of 80 cents which isn’t far below the current share price and probably above the ensuring share price should the seized shares end up on the market………. so I was thinking they may be prepared to buy them back and if so they could raise some funds by selling their ITE holding. As UXC is really a group of various companies it is beyond my means to find out exactly how much of UXC Geoff Lord actually controls. I know the whole idea is a stretch, I was just pondering the situation, I have no intimate knowledge of their details. IDT’s share price certainly tanked on the news but curiously UXC hasn’t faired too badly … yet. Gee this Golden ale from James Squire tastes good.