eyesclosed – I'm sure you're correct about the audit position. Loq have been fighting this for years – it was certainly fully described in the AIM prospectus – on the assumption that the Americans would eventually give up and walk away from a case they had little chance of winning. However I think that escalating costs of fighting the action and the continuing management time it takes have convinced them that it is better just to pay up and walk away. Not very nice, but that's business. It is also possible of course that it was affecting negotiations with other parks, and if so, they may have removed an obstacle to further deals.
glenn – I doubt very much whether it had a material effect on the market cap – if even you weren't aware of it how likely do you think it is that other investors were? Talk of 40p is just wishful thinking – it will need other factors such as losses after float, share illiquidity, one customer-one season-one product syndrome etc to be resolved before a further rerating is achieved. Loq has done very well this year, let's not lose sight of that, and will do better next year after which I think we can look forward to a more realistic valuation.
glyn - if you think this was negative news, why did the price go up on the day?
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