The path to a 300% return, page-3

Would be better off in the near term, especially while they do not need to pay income tax due to prior year losses, to use FCFE to buy back some of the 860m shares on issue.

I know it might trigger the conversion of options, associated with the 2016 capital raising, sooner but I think it would be a better way of returning surplus cash to shareholders than paying it as dividends (which at present would be less than 1c/share).