During the middle of Sept. LBT announced that it had placed 56.1m ords (equivalent to 9.9% of its issued share capital prior to the placement) at 500p each. Nav was stated as 1095p per share as at 30 June 2008 and subsequent to the property market meltdown in the UK as 448p in the latest half-year release (a 59% drop!). So the shares to be listed on the 5th of Oct were issued at an 11% premium to book, although below the prevailing market price, hence the recent sharp 17% decline in Rand terms. At 5850cps, LBT is trading below the +-6000cps issue price and might present a nice entry depending on one's view on the sustainability of the recovery in the UK economy and the R/Pound exchange rate. According to the SENS announcement, occupancy levels are recovering and a final divi of 11.5p a share is envisaged iro F2009 (approx. 140cps). The total divi of 16.5p or 200cps equates to a yield of 3.4% at present. So, who to believe, the techies who trade the (weakening) price or the fundamentals which seem to warrant a purchase? I know my choice...and I am sure Barry will agree.