Like Sudwala2013 I am also disgusted with the way VRS are dealing ( or NOT dealing ) with shareholders. I have owned shares since the early '90's and had serious problems with the management until Niky stepped in. All the years with Niky at the helm were perfectly wonderful.
The first communication I received from VHS were two statements, levies and refurb fee. Before I could even query the refurb fee I got another email apologising for the incorrect figures on the first statement, and another statement demanding more money.
My emails to them either go unanswered or I receive copious repeats of the statements I already have, their media blurb re the refurb, and barely concealed snippety suggestions such as inviting me to"attend their offices to peruse the builders' contracts and costing" blah blah blah.
I refuse to pay the refurb fee - because it was NOT, to my knowledge, ever discussed and ratified in an AGM. My copy of the 2012 AGM has no mention of any refurb. I believe that any decisions of this magnitude HAVE to be tabled, debated and agreed upon at an AGM.
I think VRS are stalling because they know they have not complied with these criteria.
I have tried selling my shares, but in this depressed economic climate there are no takers.
So here I sit - in South Africa, with a stagnant income, and expected to cough up for fancification of a resort I haven't been able to visit for ten years ( battling to cover daily cost of living, never mind taking a holiday ).
Anyone wanting to buy my shares?!!!