I don't believe there is anything insidious about it; I just...

I don't believe there is anything insidious about it; I just think this is really a medium-sized family business that happens to at the same find itself as a publicly listed company, presumably for some legacy reason.

Which makes them a bit naïve in communicating cogently and lucidly with the market.

And this is not the first time this has happened; I have found much of their communication with the market to be less-than-enlightening.

And I guess when you invest in this sort of business, where resources are limited, you know you are going to get a few warts and quirks.

I just spoke to one of the directors - Jerry Bullon - who also runs the Investor Relations firm, INSOR which handles SDI's IR issues. My sense is that this announcement wasn't given too much close attention, particularly in terms of some of the unintended interpretations.

He said they would take on board the concerns raised about guiding in future to a line in the P&L above the tax expense (he did confirm that I wasn't the only to have raised this point today), and also to narrow the guidance range in future.