Ann: Managing Director's Presentation to AGM - Addendum, page-9

Ur right it's cycles. make a profit, pay yourselves handsomely, propose a merger (IGR), feck it up, destroy the SP, destroy your market cap, take 10yrs to get back to 25% of where you where 10 years ago and wash rinse repeat. I invest for 2 reasons: capital growth or dividends and this produced neither, however, I will move to something else and you can keep with SLR. Good luck and hopefully you will have a better experience than I.