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Wow. How to grab defeat from the jaws of victory. Of course I'm being unfair. Kudos to the owner for steering the company through a very difficult time and to a successful deal. However, as suspected the intention is not to return cash to shareholders but continue as an investment company. The LSR experience does not inspire faith that he has the midas touch. Market clearly concurs with the share marginally down on what should be a joyous day. Theoretical SOTP NAV according to today's RNS is 144p. I am not saying that the owner doesn't have some cunning re-investment plan up his sleeve. But I will happily watch this from the sidelines. I'm now happily out (below where it could be if mgmt were more shareholder friendly but that's life). I wish all remaining shareholders the best of luck!
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