Incredulous, page-20

I've done exactly that, Whatsa.... bought a whole swag at $1.685 this morning.

My belief is that if a counter offer is not forthcoming, then that is the "writing on the wall"... that the market is telling the shareholders that $1.75 IS market value.

Having been on this ride since way before the price consolidation and been strapped in on this rollercoaster ride all those years, I need no convincing that the offer is low. However, what one can't ignore is the reality of where the shareprice was yesterday... 61c Nor should one ignore the bigger picture in which VLA had become one of many "novel" drugs competing in the field as more and more entered the field. Shareholders would be crazy to let Cavatak be put back on the shelf with VLA having to fight it out trial after trial. The shareprice would take a dive for sure.

"A bird in the hand" as they say. I have gone out on a limb perhaps by loading up at these levels. I hope it does not come to bite me on my resolve (lol). I believe the worst case scenario is a 3.5% (14% annualised) gift. There are way too many big stake holders for us small fry to vote down such a scheme.

If $1.75 really is a cheap offer, then surely the likes of BMS or others will recognise it and act accordingly. If they (the market) don't, then it will be proven an "equitable offer". Can't argue with that.

There would be nothing worse for shareholders if the acquisition was voted down and VLA had to paddle their own canoe again through Phase 3 trials. What a costly and arduous path. Who knows where the shareprice would end back at. I shudder at that thought... thats why I bought more today. Its a done deal in my mind, I guess... irrational to knock back what could be VLA's one and only offer.

I believe the shareprice got a belting after the last trial results because it was more of the same (fantastic results) and traders seized the opp to make quick bucks. A lot of tired investors probably bailed as despondency set in and the falling shareprice saw an attrition of longterm holders. I consider myself lucky... lucky for keeping my resolve to stay in til now... and now even luckier that some people aren't willing to wait around any longer even for a few more months and pass on shares at a small discount to me and others.