No SPP, not happy Jan!, page-6

Any that wish to use my letter as a template to send their own feedback please feel free......

[email protected]

Dear Virtus management,

As a shareholder in Virtus, I find it very disappointing that you conduct a dilutive placement to only a select group of institutional organizations, and to not all shareholders.

Could you not have acted in the interests of ALL shareholders by simply offering the ability to increase current holdings by 6% at the placement price?

This goes down as a red flag in my book on the management of VRT.