meeting feb 10, page-37

I thought you would be interested in the email I just sent to the fm at sentinet.

"Hello I realise that your policy is to not comment on your funds management directives, however I would like to guage your response to the upcoming meeting of VPE shareholder (of which you are a significant holder).
John Kopcheff and the members of the board are proposing to give themselves a significant number of options that are almost in the money already. They have stated that this due to their effort and success, however in the 20+ year history of the company I can not find a single year of profit. As far as I can tell there has been little returned to shareholders (by little I mean nothing).

I think that this company has great potential (as do you obviously), however I think this is a case of gross greed and I would hope that you would be voting against the proposal and showing your distain at the suggestion of the issue of these options.

I would be very appreciatve of your perspective in relation to the issue of these options.

Thankyou

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