Ann: Update on UK Wind sale process , page-4

Good to see an announcement (at least the price bounced from Friday's close).

Nearly 29 million shares traded?? Who's buying?

If the asset prices are indeed worth 70-80% more than the current share price (less fx movement since the December report), and if I were VIR management - why wouldn't I legally buy all the shares I possibly could?

The announcement regarding "Continuation of asset sale strategy" sounds like a ramp up of that process.

This is compounded by statements that refer to "support of the Corporate lenders." What would happen if support does not materialize?

The clincher was the one sentence paragraph; "The board intends to engage a financial adviser shortly to assist in managing the sale process."

Could it be a wind-up and sell off exercise?

If today's buying activity is any indication, the announcement might flush out potential bidders for the whole company (again...).

Reason being, that if the assets are really worth more than the share price, and assuming someone still has cash in the bank to spend, then why wait for the fire sale. A bid for the company at under 15 cents might be enough to win it (not much of a premium considering the underlying value of the assets).

The new purchaser could then dissect the assets, sell off everything the existing management were thinking about selling, and probably end up owning at least a few projects "free and clear." Nice outcome for a few months work...

Where are the bids then, and who owns the majority of shares traded today (announcements coming)? Entities related to VIR or a new entrant? Speculators or Investors...

The announcement read like an advertisement. "For Sale; clean energy assets (with potential)... IF you can get the monkey off our back by 31 July 2010."

VIR has real assets and real cashflow - That must be worth real money to someone...?

Perhaps its worth more to the existing large shareholders (excluding funds and banks)? If its such good value, they could protect some of their downside losses by mopping up the company at next to nothing and rebuilding it with new capital.

If they don't do that, is that an admission the assets are not worth the existing share price? Hard to believe that is the case, but then its hard to believe the current share price.

Opportunity favors the prepared and courageous... If the fundamentals are OK, and its simply a refinancing problem, anyone with a spare hundred million in cash, should be all over this stock... So why aren't they??

Feeling somewhat more optimistic that at least it won't continue the spiral down, but not sure there is much upside either (for those of us who are way under water).

Buy more at 8 and look for a takeover offer in the short term perhaps (average down the loss for those holding at a higher price)? Or quit and move onto greener pastures? Hard to chase VIR with good money - that's for sure... But then, someone has put their money where their mouth is today...