Firstly, it is CPU (Computershare) that is collating these...

Firstly, it is CPU (Computershare) that is collating these votes. If it is unclear, complain to them, not VRL.

A NO vote is a NO Vote irrespective of who is the proxy. If you have voted online, this is even more guaranteed as CPU already have your Vote. Voting online is preferred and easiest for all concerned.

Since you don't know who I am, ring VRL if in doubt. The Company Secretary's phone number is on the latest ASX release.

Note that VRL & BGH are fully aware of the likelihood of the Schemes getting up in the current form.

Unlike 3PL and OVH, BGH have not announced that the Consideration is its "best and final offer". That does not mean that an increased price is definitely coming. But clearly, the market is giving it some chance. But if an increase eventuates, it will be no where near $5. Mittleman is on another planet if he honestly believes VRL is worth $5.

It is totally irrelevant what the historical price has been and whether shareholders are sitting on losses or profits. The only thing that matters is the future income stream and the risk of achieving those earnings to ascertain an appropriate discount rate, and the price the market including bidders like BGH are willing to pay.

If VRL is worth close to $5, there would be other bidders emerging. 12 months ago PEP were very keen, but are now silent despite a substantially lower price.