Not wishing to get into an argument about this and it depends on how you see things.However it is rational to consider that the company is realisically worth at least £1.40/share as the management plus others would not consider a MBO or takeover if it were not.What value the market places on it in these troubled times is I agree another matter.I therefore conclude that the upside is far greater than the downside and a fiqure of 50p is just wishful thinking on your behalf and a chance I would certainly not consider.