mccabe, page-15

"you have to allow for the security that McCabe has brought to VPG"

I call it 'Insecurity', it took 8-9 months for the company to clarify the vague debt for equity transaction they first hinted at in January. This weighed heavily on the share price for 8 months and is one of the reasons Valad was not able to do a SPP or rights issue at a half decent price IMO (the other being Hurley doesn't have the dough to participate in a non renouncable rights)

It's a disgrace and some positive press on McCabe should not distract us from what has occurred, shareholders have been sold well short with this transaction that has been negotiated behind closed doors.