Oh... Re-reading the ann - I missed perhaps the most critical...

Oh... Re-reading the ann - I missed perhaps the most critical line as it was buried in the detail!!!!

"ESTIA HAS ALSO DETERMINDED IT WILL NO LONGER CHARGE RESIDENCE UNDER THE ASSET REPLACEMENT CONTRIBUTION BECAUSE OF LEGISLATIVE UNCERTAINTY"

This is massive & will in itself be a huge driver of a further profit downgrade!

They are taking it upon themselves not to bother charging b/c they obviously have doubts in its legality given their proposed changes.