general meeting

This forum is one of the few opportunities for SHs to unite by the expression of their views. After all, it is SHs whom own the Coy.

I am not averse to the proposed issue of free options to directors provided the conversion price is acceptable to SHs. The proposed resolutions at the forthcoming meeting grant free options to directors at a conversion price of .025c. This means if all the free options were converted, the directors would have to cough up $1.5 million of their own cash to own shares. Obviously, they would not convert those shares unless 1. the SP at the time of converting exceeded .025c, or, 2. they were absolutoly sure that the SP would exceed .025c sometime in the future.

Can VIL holders post their opinion on why they think .025c is not a reasonable conversion price for the proposed free directors options, their reasoning and what they think is a fair conversion price. I will be attending the meeting and have a very substantial shareholding with which to vote.

Bear in mind, it is my belief that the directors would not be choosing .025c unless they believed that the opportunity exists in the future for the SP to be in the .05c range.

Thoughts please.

Miki