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Yesterday's statement was yet another missed opportunity by the company to answer the legitimate concerns that are raised by the likes of Questor, Exane and others. The downplaying of the RAC contract to "not an area of focus", the vagueness around the real underlying cash flow (that is, after tax, property spend, not before it) only heightens concerns. Like many on the Board I am very significantly down on my investment. I do think it is time for someone to say to RT to stop acting like Malky Mackay - accept there are fundamental legitimate concerns, and address those concerns in a straightforward , no BS manner. Otherwise this stock will forever be a disappointment. If RT cannot, or will not do that, then the non-execs should act.
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