Fayrewood - troll free thread

Hi,

I was a little surprised at PAul Griffiths & David Gurr resigning as Directors, although it does make complete sense because the level of central overheads (mainly Director salaries) was simply not justifiable once UMD had been sold. Good to see however that they are remaining as consultants, as they know the group inside out & should be able to maximise the remaining value (which I note that Edison put at 129p in their most recent note from November).

So looks reasonable (c. 30-35%) upside now the UMD deal has completed, with minimal (if any) downside.

I agree that share buybacks now look a complete no-brainer.

Regards, Paul.