I looked at this one a while ago - never held. I am not up to date with the latest state of play.

However, it is interesting to note that the MD has - over the last 8 months - reduced his holding from 7.26% to 5.08% in two tranches of 6M shares in September and another 2M recently.

You might deduce that he doesn't see anything transformative happening to the SP in the foreseeable future.