20c a security is a big risk, but it could hap, page-7

Specifically, in response to the statement that “Valad Property Group’s management is believed to be seeking an equity backer to launch a company buyback;” as stated at the AGM on 30 October 2008, the Group will look at all opportunities to enhance security holder value, and will keep security holders and the market fully informed of any developments as they may occur. Valad has no specific knowledge of any potential company buyback at 20 cents per security.

The article also speculated that “Valad could move to return the European arm of the business it bought from Kevin McCabe last year.” Valad has not received and is not considering any such proposal.

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Look at the strong wording in the second paragraph, outright denying such a proposal.

however the first paragraph VPG only seem to be denying the specifics not the idea or suggestion.

leaves the door open IMHO.