Ann: Change of Director's Interest Notice - G Wilson, page-6

Don't expect miracles here guys.

If the market tanks, be assured there will be many ALF and WMK holders who will sell out at the same time. The difference SHOULD BE that a neutral strategy will hold onto NTA. Thus if the SP falls, which I would totally expect to happen, the already deep discount between price and NTA will widen even further.

Eventually, the smart money will have worked this out and the discount will soon evaporate, as "defensive" shareholders seek something that actually doesn't lose much money in a catastrophe and that can profit from a recovery.

I hate to say it, but for ALF, it has happened 3 times over the last 14 years and it plays out like it is scripted in stone. Until all this happens, do not expect too much from ALF other than the possibility of narrowing the current discount to NTA.

All my view only, of course.

DYOR and GLTA