Share Price27 Feb 2014 19:41
An alternative way of looking at this is that the £75m will be used to take advantage of the flooding crisis and new infrastructure contracts that the Government will have to put in place.
The placing avoids an expensive rights issue for all shareholders. Yes the retail investor has been stuffed but the institutions I believe, will lap this up and won't front the money unless they believe it will be used productively. I bought more at £2.61 this morning as I think the future is bright for this company.