way over capitalised, page-30

After the departure of Peter Jermyn and Dean Jones the new management gave what I felt were quite valid reasons for the termination of search feed contracts and subsequent decrease in revenue. What we are currently seeing is in my opinion a much more realistic picture of that side of the business.

The current board is a much more professional and capable outfit and that is obviously being reflected in the current share price. That being said, the good will afforded by their reputations will only last for so long. I agree that news of new adslot developments/contracts will need to be forthcoming to maintain the MC at these levels.