Ann: Response to ASX Query, page-47

O.K - so firstly anyone who gives out their personal contact details on HC is an idiot IMO. I don't care how genuine you make yourself out to be.

Secondly as ordinary shareholders it is unlikely we would be able to compile the necessary evidence to launch never mind win a class action against one let alone two of the companies and / or their mutual Director's. There are just to many loose ends and we lack the ' Smoking Gun ' just as the ASX does.

My view would be more along the lines of going after ASX for negligence and excessive use of its powers and the effects this has had on small holders. The companies would then most likely join and come on board with our claim as well, however this action in obtaining their support would not be mandatory. My logic here is that it is the ASX who is suppose to mediate these situations in the interest of ' All ' shareholder's - large or small. Its in their mandate and charter to do so. And its by their excessive actions which have given rise to this totally unacceptable mess we all find ourselves in. Who do they actually think they are protecting here. My guess is they are protecting as they always do the big end of town and once again at the expense of the small ' Mom & Pop ' investors. They did not even exercise this sort of malfeasance in and around the various and numerous scandals surrounding the horse racing / betting industry. Once again the system demonstrating that it is only there to protect the ' Big ' money side of things. Imagine if it had closed that whole industry down on account of its obvious corruptions.

No what I think we should do if anyone is genuinely interested in investigating with the view to going forwards with a class action is to agree on a time and a venue in Melbourne or Sydney , and to either come themselves or organize for some relo or friend to attend the meeting on their behalf. No names have to be spoken among ourselves apart from listing our selves on the confidential class action and the amount to which we have suffered losses. I believe while there is no stipulated number to form a Class Action in Australia , it is suggested a minimum of 40 is preferred. I believe we could amass more than this in combing both VIC and HDY shareholders.

The first meeting or briefing would be attended with a pre-arranged Barrister and/ or Law Firm specializing in class actions with a preference to ' No Win / No Fee - or at least the first consultation / meeting at this forum provided free gratis. We can then openly discuss at this venue the overall cost structure of our legal claim and action.

I strongly believe that without criminal proof by the ASX , the ' threatened ' de-listing punishment not just to the company but more the ripple on side effects - the cause and effect if you like to small shareholders definitely does not fit the crime in my opinion. thousands if not millions will have been lost by the ASX's bullheaded approach to resolving day to day business and transactional conflicts of interest. And you can't tell me for a minute that this kind of thing is not happening just about every day since I have been trading stocks - and that's just over 30 years now. And during this time , I have indeed seen a lot.

All these posters saying that the ASX is doing a great job is a total farce and utter joke. That's just my opinion. It is also my opinion that I think it will all sort itself out. However if it doesn't we ALL - VIC and HDY shareholders inclusive need to keep ALL their options open to the best chance in terms of any sort of legal challenge. Everything is now resting with the outcome of negotiations with HDY at the present moment. It is a very serious action and decision for the ASX to take , and one they should not take lightly IMO.

Don't loose to much sleep over it though folk's as it is Christmas and we all need to be remembering this point for both our families and friends - All the Best.....SB