Sarantel

Gelp, what do you mean by consolidation as an alternative to fund raising ?

I wouldnt put too much emphasize on VCTs being that clever. In 20 years of investing, my worse performing investments have been VCTs ( if u dont take the tax into account )..and the worse of the worse was from top dog Artemis of all people ! Institutions are told spin like everyone else..probably more so in closed presentations. I know because I have presented to VCTs in the past during fundraising in the Dot bomb error...and they are as susceptible as anyone to hype..believe me.. they arent Superman...