Ann: Net Tangible Asset Backing, page-11

Given the continuing lacklustre performance it's unwarranted. It remains overpriced. The underperformance now looks to be the new normal. Staff departures have clearly hobbled this business (go Regal!) and the dividends which have previously been so good are going to be modest at best. I looked at the 5 year performance yesterday. Terrible. Good to see that Justin has done fantastically over 5 years. Lovely new house mate (and beautiful art if I may say so). Shame about the investors though. Here's a tip. Get Okmar back. ASAP.