These also had a RI the same time as the consolidation. 6 for 7 ( or 70 before consolidation)
They used the money to buy land to boost there house building side. See link below
http://online.hemscottir.com/ir/gfrd/jsp/rna10092009.jsp
Will it stay above £3, is the question, it does look positive but wont be counting any profits just yet.
Was shorted quite a bit at time of RI so hopefully it can now be left to climb higher, where it belongs IMO