PPR - on day of ann checked the Valad website - Hurley's...

PPR - on day of ann checked the Valad website - Hurley's picture, bio and position no longer exist either wrt management or directorship. Now we have "4 non-executive directors" according to the website.
Short story - he's gone, so is our money, and you're right, the other 4 are next, followed by the european ceo on hopes.

As for the Kefren deal - still don't know what the hype is about. We lost some 750m under management and anyone's guess at what discount we picked it up at. And even so we only had the mandate since the absolute end of July last year. At that time the market didn't say 'wooo - great, some more money' and shuffle the sp up - from memory a pretty lack lustre ann. So for some commentators to cry now that this would impact the price downwards of the european management is a crock in my opinion. You can't have it both ways! And of course none of us know the termination clauses in the contract - rest assured for once, WE won't be penalised by having to pay!