QEENS MOAT-- READY TO TAKE OFF

Venture capitalists would make a mint out of QMOT people seem to forget that althogh some of the loans are at high interest rates in the bond markets thet are yielding in excess of 9% and there is a £100M convertable loan due I believe end 2008 where no interest is payable and is convertable at 45p per share. there will be someone out there who will want exposure to the european hotel market without the outlay and tere would be scope for either repaying the loans when they become due with new loans at improved rates if they are a good credit risk or a massive rights issue