And there it is - GAME ON, page-29

Understand all the reasoning Sura7667... but just because they claim it is too hard, or as you said, they want to look after their big guys, doesn't mean retail investors feel happy about having to pay 40% more than the big guys considering we take a greater material risk. You say that offering shares to retail is a time wasting process but hey, we are also part owners and early supporters of this company, and many have waited very patiently for this... so to say it is a waste of their time to now consider those guys is pretty insulting. That being said, even if they didn't want to include retailers, less of a discount (say 10%) still would have seen this allotment snapped up and retained some value for pre-existing shareholders.

Now whilst I agree VUL has a bright future and believe in their long term prospects, and will buy more... buying today (the first opportunity after the instos took their deal) you will end up with a 40% less stake, dollar for dollar, than a big guy paid days ago.

In the end they do it because they want to look after their mates at our expense and they know we are powerless to do anything about it.