3 October 2012 – offer update
Following the news that Mayfair Capital now owns over 60% of the equity of the company, the independent directors of the company have changed their recommendation and now believe that shareholders should accept the offer of 22p cash per share. Although they believe this price still undervalues the company, there is a good chance that shares in the company will lose their AIM quote leaving shareholders without a ready market to trade the shares. We follow suit and now recommend that shareholders ACCEPT THE OFFER.