quarterly activities and cashflow, page-2

You are probably right Watso.

I do not recall this being mentioned when AND were defending themselves from KCN's bid. But my memory might be defective.

My bet is also that KCN will not be offered any shares ....

If KCN want to defend their 22.3% investment in AND from possible dilution then I think they will need to mount another bid.

AND have also managed to have Gavin Thomas removed from the board, meaning their major 22.3% shareholder has no board representation!!

Now that is an amazing state of affairs.