Ann: Becoming a substantial holder, page-2

Ho Bee Land is a large property developer based in Singapore with substantial operations in Australia. Accordian Investments was first registered as an Australian company just 10 weeks ago on 7th September 2018 with a registered office in Docklands Melbourne.

Ho Bee have spent around $15million accumulating a6.6% stake in VLW.

With a low AUD it is an ideal time for an overseas investor to put cash to work in Australia.

This will not be a passive investment. Expect more action to take place in the near term. With a fabulous land bank and an expected $50million net profit from the Donnybrook land holding sale VLW is a very attractive takeover target with a share price at $1.72 and a NTA at 30 June 2018 of $2.34 plus another 6 months net profut to 31 December 2018.

Interesting times.