calling for egm or some at least some update, page-16

I am not too familiar with the legalities but since VPG has the McCabe liability hanging over the company I think this is where we need to start.

We, in reality it appears owe McCabe $60m+. We have rumours from takeovers to equity raisings to probably a 100 other rumours.

What happens to the LVR and solvency of the company if we are forced to pay $60m+ in September. Is the company able to do that and keep within the covenants?????? Will we need to quickly sell more property to shore up the balance sheet? Has it been done or is it being done???? Are they budgetting for an outflow of $60m or are they confident they will have the funds... These are questions I think are important for a company I OWN...

I think there is a lot more issues than they would probably like to abmit....good and probably bad...

I'm sure McCabe is no chance of accepting 19.9% at 20c. He probably already owns that amount through 20 subsidiaries...

I can't see McCabe wanting the compaany too quickly if it is hinging on a $60m+ debt to him if there is a chance he may not see it....

Sure McCabe may be secured, and so is a dozen other banks. So why would he support a company that could be broke once he gets his money? These are more questions I want to know...Why should he get more information as an owner than we do (That's provided he is getting it).

I have held VPG for some time now and I think everything will work out as I think they are scheming something for themselves or their mates... But the lack of information is worrying me and a full report from VPG I think is needed on the McCabe situation.

I think we are not being told the full picture about McCabe - whether its good or bad, I think it is time McCabe stood up or buggered off.......


Add me in to the EGM...Not sure of the number but +1