Selling half of my PVCS at a c7% loss.
Their strategic review is taking too long. In addition I was over optimistic / didnt put enough thought/work into my estimate of closure costs which I now believe could be a lot more than the €2m I guessed.
This might reduce my upside quite a bit and the delay on the strategic review is making my nervous so I am lightening this up substantially.
Deep Value Investments Blog 