ann - management buy out of europe business, page-22

Thanks Nursery - here is a copy of my complaint sent on-line today.

Complaint: RE: The proposed management buy out for a portion of the companies business. Recent events have led to severe reduction in the value of the companies assets. This has reduced drastically the value of the shares. A recent share consolidation has further added to this devaluation. Our wealth as shareholders is being eroded with no reversal yet.

I believe, as do many other investors that I communicate with, that the conflict of interest between management and shareholders commenced when management first spoke of the MBO not when it was announced. The impact of such a conflict may have contributed to the lack of valuation for the European business and lack of information regarding this MBO at the AGM.

I ask that this matter be investigated as a matter of urgency as there is a lot at stake for the general shareholders bearing in mind that VPG has not disclosed a value for the European business, the caveat is in place to June 30 and VPG has significantly underperformed the REIT market sector.