I have to agree with you on the options holders getting screwed...

I have to agree with you on the options holders getting screwed over. Watching what happened to VPEO is enough to scare me away from options for good. Calling an SPP just before the exercise date was poor form...

On the RBS fee, I accept that you are OK with it. I however cannot accept that our company is handing our money away so freely. A$350k when there is an expectation that most will be taken up (seriously they are 6c in the money! If you dont take them up you are shooting yourself in the foot) - plus any shares they do take up at 25c RBS are going to sell the next day at 30c for a 5c gain. Seems win win to me. Now I get that the market could move (up or down) on RBS and thats the risk they run, but the upside on this deal massively exceeds the downside. To be honest, as an ordinary share holder, I hope the options holders dont take up there shares as its dilutionary to existing shareholders - so why underwrite them in the first place??

I really want to know what tender process they went through. My guess it was a mates deal - RBS being the usual broker. And the bankers get richer...

The conspiracy theorist in me wonders if there is any link between RBS picking VPE as their top buy on the 12th Jan as detailed in yesterdays ann or is it just convenient timing?? Probably no link but still my spidey senses are tingling...