In a world of box ticking for a fee, it was good to see a sleepy...

In a world of box ticking for a fee, it was good to see a sleepy trust company forced to wake up and say something, however bland.

A takeover of both classes is the only solution. The board and shareholders have finally realized that they are holding a steaming turd, especially Orbis, whose brand gets damaged every time they are mentioned in dispatches as the major shareholder in PPX.

Just don't expect the offer to be generous. Why should it be ?