1/10/2009VIX-ERG answer to ERG Class Action GroupAfter we FAX a...

1/10/2009
VIX-ERG answer to ERG Class Action Group

After we FAX a letter to VIX-ERG, received answer e-mail, attached following.

In the answer, "The Company Videlli has a 50% ordinary shareholder interest in Vix ERG", this sentence never appear in the restructure Notice of AGM, that is a confusion game document. There are lots misleading in the documents.

The most serious one is that ERG peak income period was cut out in the value assessment.
In < Independent Expert’s Report> 17/9/2008, Page 34, 5th row, the cash flows forecast, Only from 1/7/2009 later.
They deliberately avoid the peak income period 1/7/2008 ~ 1/7/2009 in whole. They was misleading shareholders to believe ERG next 5 years value equate to the loan, about 110 millions, then pass the vote.
They made false value data, Hiding important information and misleading.
That is why they scare to expose the new finance report.

Ok, VID shareholders can access VIX-ERG finance report. But VID must get the finance report as 50% shareholder. Then VID should show the report to us, as our interest are in that.

We will keep to trace for the interest for our members.
Join our Class Action Group by e-mail to [email protected] .au