"I do realise that the stock has made solid gains in the last few months. This may be in anticipation of future dividends and expected capital gains."
This seems to be the case as it closed over night on the LSE at £2.6275 - A$5.37. Also, perhaps because it's a potential takeover target for a UK bank, once it's got its ship in order, is another reason.
Another Misunderstood Spin-Off, page-58
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