12 cents gap between TAS and EDE, page-55

It would seem self evident that as Roaminoz stated, EDE and TAS are mutually supportive and that EDE is envisaged as the cash cow for TAS. There isn't any way the Solomon's will sell Noble or distribute the EDE shares owned at any time in the near future. Selling Noble would also be problematic in the longer term. The new owner would be entitled to demand seats on the board of EDE and would be able to dominate voting at the AGM, effectively controlling the company, just as the Solomon's do now. They don't give the impression they would be at all happy to give up control of EDE.

Personally I think one of the reasons for the company structure is to make them immune to predators and isolate potential problems in one venture from the other companies, while sharing the rewards. My worst fear was that as the company became successful, the Solomon's might try to privatise it. I feel a lot more relaxed about that now, and but I still feel that despite Nursery's protestations, dividends from either company are very unlikely. Some of the most successful companies in the US pay no dividends. So TAS will continue to be asset rich and cash poor, and directors' fees and loans to EDE will continue to be converted to shares and options, cementing control.