valuation, page-5

I suspect that it was viewed as having great prospects when construction was going gang busters, and many small players were being taken out by the likes of Coates.

Interesting that they still have a good revenue line, but I don't understand enough about the business to work out why they can't take much to the bottom line...bad management? tough industry?

Interesting that a private equity player has taken a preference share position...that is what pricked my interest. However, its done nothing for the share price...so you are probably right.

also, the issuing of options to non-executive directors is a bit bizzare...looks like the board needs a bit of therapy...their rem was perfectly reasonable IMO, particularly for such a small company.

Anyway, thanks for taking the time to respond.