vpg to come clean tomorrow, page-4

Have spoken to the company previously about the lack of disclosure with the following response:

"We last provided an update to the market in March at the half year results and when we have material information to announce to the market, including the completion of the asset sale program, we will do so accordingly. We are continuing our hard work in relation to asset sales and hope you appreciate that providing detailed information to the market in relation to our asset sales program may damage our commercial position during negotiations."

In response, I sent IR the following:

"I suggest that management reconsider what is considered “material information”. When the company was trading north of $1, I totally understand that such a sale would be immaterial. However, when the company is valued at less than $100m, a sale of $65m becomes material."