Dear Caz,I was recently informed by a broker (who is also MD of...

Dear Caz,

I was recently informed by a broker (who is also MD of a company (not VIL)) that when directors receive "free" options they have to pay tax on the value that the tax office attributes to those options. I am unaware of the amount of tax liability that would fall on the VIL directors should the resolutions pass.

The same broker, when I asked him his opinion on the proposed "free" options to VIL directors responded with "Why wouldn't you. The directors would only excercise those options if the SP was .03c or better.

SHs blame the directors for VIL SP being .013c. SHs, including me, find it very easy to criticize, especially when we have done a heap on our investment. Whether there is merit in blaming the directors or not, the fact remains our investment is only worth .013c on the market today.

If VIL SP goes back to .03c or better, and I think that is an absolute distinct possibility, I for one will not be unhappy with the Directors. The real free kick they are getting, is not "free" options, it is the fact that they only invest their money to convert when a profit is a sure thing. We punters do not enjoy that luxury.

I still think the resolutions are not that bad.

Just MHO.

Miki