8 ball - thanks for the advice - I tucked 20000 away just before the close, having seen your posting - I have often looked at this one as I hold shares in a company with similar directors, megalomedia, which simonevans refers to above. I waited until near the close so I could work out year end net asset value and I think you are being too conservative with your 25p estimate. My calculations are around 26.5p, based on the stated composition of their general portfolio in their last full accounts and taking the doctors direct investment at £500000. Having finally managed to get a 75000 holding in megalomedia I am looking to get a similar holding here at these levels, although you can only get 10000 at a time online.