going forward post egm

I understand my previous post was moderated for "possibly being defamatory". This is hard to believe as anyone who has read my previous posts will know I am factual and balanced. Given my background, I can also assure the moderator that there was nothing defamatory in that previous post as it was all was factual based on public events (EGM, AGM). Having said that, let me re-try in an even more generic fashion.

My initial reaction was directed to Pecora, … and I questioned why, one day after the EGM, he/she posted what he/she posted. The people calling the EGM have now had 4 bites at the apple with 3 separate EGM’s and one AGM. This has nothing to do with gloating by one side or the other it is just simply that you have had your chance and the majority of shareholders simply do not share your view. That happens. Time for everyone to move on.

By continuing to antagonize you are not going to improve the sp. We all know the company will need to raise money and at these levels that is going to have a considerable dilutionairy effect (which benefits no one – including you).

I understand that the Board has offered repeatedly to help out the people who called the EGMs with a placement of their stock (this offer was repeated at the EGM yesterday following a question by one of the shareholders on this topic). Obviously, anyone buying a substantial holding of stock is not going to do that at current market price and you will have to have realistic expectations. I myself am willing to look at putting a small group together to purchase the entire holding of the people calling for the EGM at a reasonable discount to the market price (so we all can move on). If interested, just contact a director or the company secretary and I will liaise with them.

I hope the people who were not successful as far as the outcome of the EGM is concerned are not just holding on and continue to aggravate. Although it is their choice this is unlikely to do the value (and/or the prospect) of anyone’s holding any good in the short/medium term. For anyone, I suspect it would be better if they don’t agree with the corporate strategy of a company to use the funds more productively elsewhere, in a positive environment with perhaps more like minded people.

Hopefully the people who called the EGM will accept the shareholders verdict and move on (or at the very least, allow the directors/management time to focus on turning this company around rather than having to deal with continued infighting by a former director/chairman).


(this is just MY OPINION, I do hold the stock and would like the company to be a success – I have no doubt the company can be a success if all this "interference" just stops and VMT staff are allowed to solely focus on value adding activities rather than having to be on the defensive all the time).