"Why on earth should/would PEN management reply to a non...

"Why on earth should/would PEN management reply to a non shareholders "case"?"

I am a shareholder and I would like them to reply, I doubt I'm the only one. The source is irrelevant.

Unless I've missed something PEN have only made assertions. They have not back them up with a proper explanation of the process. Vintage on the other hand has done so. I would always regard a detail explanation as holding more weight than 'this is how it is because we told you'. If legitimate questions are raised it is legitimate to expect a response to those questions.

If you want to simply accept it because the company said so I suggest you try investing in one of Mark Smythe's companies then I suspect you'll change your tune.