Reason 4 SP dive, page-2

Very heavy turnover is driving it down. Maybe Thorney who did not like the options pricing at $1.50 are taking some profits? It will be interesting to see if any major holdings change. Share price may get to option exercise price of $1.50 rapidly, which would be ironic.

I note Chairman Ray Malone in answer to my question about future dividend policy said he thought they should not pay dividends as they could earn such a good return by reinvesting, but the rest of the Board out voted him. He still indicated the dividend would be held constant, despite the rapid rise in profits. The franking credit balance doubled last year and will keep rising rapidly if dividends are not increased. Franking credits are worth nothing to company, but something to shareholders, so I am unhappy.

I am glad I sold a third of my holding at $1.84 in October.