spoke with two prominent fund managers, they both value VPG at...

spoke with two prominent fund managers, they both value VPG at 30 cents but equally highlight the two main issues - scarbrough debt for equity and european financing. the other is falling is fees from asset values.

so a rerating will only happen once one of these has been resolved and we have no chance of getting any significant traction till probably both.

however neither suggested administration etc and speaking to valad management, they said the banks would not have extended if there were uncomfortable - things can change however but lets keep the fingers crossed, would be nice to get a multi bagger.