vrl proposal to preference shareholders, page-15

I agree, who cares about the Prefs.

The main stock is undervalued NTA is over $2.2

If you didn't get the prefs at 60c then bad luck. That's why you should buy the main stock in all shares, non-main shares have these risks, as companies can play around with them.

When VRLPA is gone, people have to buy VRL, then it will go up which is good...

Go VRL, bye bye prefs, well done to the traders that took the risk and bought the prefs <$1 :) I was too scared since it was hard to know what VRL would do to them...