21.   During the dispute all banks, with the exception of the state-controlled Postipankki, had been closed, causing serious liquidity problems for many smaller companies.

22.   Institutional shareholders, for instance, in the larger company may be willing to support the board of the smaller company.

23.   The larger company wishes to acquire the smaller company.

24.   In a friendly merger, the smaller company can agree to make the share exchange offer for the larger company in order to maintain the listing.

25.   The difficult minority shareholder in the smaller company will be substantially diluted as a consequence of the share exchange.

26.   The economics involved may mean some smaller ITV companies are taken over by larger ones or even open to takeover from Continental broadcasters.

27.   Shirescot, the UK smaller companies specialist trust launched by Glasgow Investment Managers in August, has achieved a healthy total return in its first four months.

28.   Take the inducements to hold rather than trade stock in smaller companies or the incentives for strategic industrial investment, particularly in technology and skills.

29.   Corporate venturing -- some large companies take an equity stake in smaller companies to encourage innovation and growth, although the size of these funds is relatively small.

30.   John Redwood, the Corporate Affairs Minister, has supported the idea of a new order-driven market for private investors and smaller companies to complement the ISE.