The 22nd Nov could be revealing, it's all huff and puff right...

The 22nd Nov could be revealing, it's all huff and puff right now, however I would like to highlight in the meantime something in SPX' defence statement; Alex Hewlett clearly states in that he had been in negotiations to acquire PW more than 6 months prior to any conversations between DJC and VMC.

See below:

Further:


On the other hand we have the VMC claim:

The thing I would draw attention to in the VMC claim are 2 points that are included in the above claim.

First point, in the opening sentence of the above claim VMC state they were in conversation with DJC during the time period - July to August 2018

Second point, and I have no interest in anything else in that statement until we get to the last sentence, and in particular, "THEN undertook negotiations to acquire Penny West"

So Alex Hewlett says he was negotiating to purchase PW from the vendors around 6 months before any interaction between VMC and DJC.

VMC state that SPX initiated acquisition of PW only after ("THEN undertook negotiations to acquire PW) VMC had, had their interaction with DJC.

If the vendors can corroborate Alex Hewlett was speaking with them, prior to VMC' conversations with DJC, then it appears to me Venus may have a problem here.

I must add, that as an SPX holder that outcome is clearly what I would like to see, and if the vendors do corroborate Alex Hewletts story, this drama goes no further than the strategic conference on 22nd Nov (that is IMO) - late next week.

However that doesn't speak to the possibility of counter action by SPX or some shareholders. As I said earlier all IMHO

GLTAH
mc