Two months ago I suggested that this stock could be worth 66 cents. I am pleased to say at 64.5 it has met my expectations rather quicker than I thought. With such a rerating the risk now starts to swing to the downside. I have sold more than half my holdings, sizeable amounts at what has now proved to be at a "give away" price. I intend to reduce my holdings further to around one third of original holding and await the full year result, not due til September ( given July year end). We may hear their preliminary unaudited management accounts result towards the end of August.
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