Hi Caketin and the rest: I have made my views around placements...

Hi Caketin and the rest:

I have made my views around placements to management. They do however have a point in that there are not that many brokers or investment houses that will or would have agreed to place slightly north of 100% of your market cap in this end of town. This game changer is just that but I think - personal view - that management have had enough of us bitching about the past CR which saw the share trundle back all the way to 22.5c in June 2014. I suspect and my model seems to agree that there is enough headroom to use both the cash flow and the debt facilities to be able to avoid another CR for some time.

My personal view is that we will see a steady dribble of sellers coming to sell their shares until the market gets sight of the half year. even then management will have to explain it by way of illustrating the "normalised EPS" as if the shares and businesses were held for the full half year. That way we can see a true valuation of what we have. Are we over the stags - Personally i think so - I think the 56.5c has spooked virtually all of them out as it came too close to the issue price.

Can it go lower - I think it may well actually get closer to the 53c. That's because a few on this forum have taught me that there are many reasons to sell but really only one to buy. I dont know about others but I am full up and really cannot invest more until I can see the half year and I suspect that many here are in the same boat so whereas a year ago if it dropped I would pick up a few I now really just look as I cannot justify any more.

So my view is depending upon what mgnt can tell us at the AGM and the view heading into the half year, we will only really be able to see direction at the half year in my opinion. Thats not far away right now. I am not going to the AGM - have to be here for being a parental taxi - so if anyone goes we would love a few insights.