Ann: Letter to Eligible Shareholders, page-48

ha! had took look that one up.

OK. so vrx reserves the right for any shares not sold to retail in the spp to be on sold to sophs of their choosing.

so if you wanted a bigger slice of the pie noting only a total of 12 million shares are up for grabs... your best play would be to make sure retail don't take up the spp. so make it cheaper on market... you get a massive bite of the cherry with attaching options... possibility walking away with 18 million shares after conversion.

I.e the current sell down is to make the spp fail so they'll get another 6.5 million shares + options... noting that there is only 1.5 available on market that's a pretty good deal.

vrx get there 3 mill and we get a new top 20 member.