buy back proposal, page-4

RB - From memory VMG bought out Bellero with a cash plus script deal but were wise enough to attach a performance basis on the script - Bellero failed the performance based part so the shares were taken back, or not issued.

I think it was all good as VMG swallowed up Bellero with no dilution for existing shareholders and picked up their customer base (guessing there - might have been none !).

I think this is just ratification at this AGM as to the decisions made a fair while ago. I won't argue against it.