6 August 2014
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ASX Limited
Company Announcements Office
Level 4, South Tower Rialto
525 Collins Street
MELBOURNE VIC 3000

HEAD OFFICE

Level 5, 390 St Kilda Rd

Melbourne VIC 3004

Tel: (03) 8844 4000

Fax: (03) 8844 4099

www.visioneyeinstitute.com.auinfo@visioneyeinstitute.com.au Vision Eye Institute Ltd

ABN 21 098 890 816

VISION EYE INSTITUTE LIMITED (ASX: VEI) RESPONSE TO ARTICLE PUBLISHED IN THE FAIRFAX MEDIA - 5 AND 6 AUGUST 2014

Vision Eye Institute Limited (VEI) wishes to respond to matters raised in an article published in the Fairfax media on 5 and 6 August 2014 in relation to legal proceedings brought against it by Dr Harry Unger and related entities. VEI is dealing with new allegations brought against it as part of an ongoing dispute with Dr Unger that has now been on foot since 2013. Details of the dispute are as follows.
On 27 June 2013, Dr Harry Unger and Norwood Winds Pty Ltd commenced proceedings against VEI and VEI Services Pty Ltd in the Supreme Court of Victoria in relation to a debt owed by him to the company as a result of a full recourse loan provided to him in March 2008. In that proceeding, VEI commenced a counterclaim against Dr Unger and Norwood Winds Pty Ltd seeking payment of the debt, interest and costs. That proceeding was due to go to trial in the Supreme Court on 28 July 2014.
On 18 July 2014, Dr Unger, Ziman Pty Ltd and Norwood Winds Pty Ltd commenced new proceedings in the Supreme Court of Victoria alleging breaches by VEI of its continuous disclosure obligations back in 2008. The allegations made in the new proceeding are denied and VEI and its lawyers are preparing the company's defence which must be filed and served by 18 August 2014.
On 28 July 2014, the Supreme Court made orders that the two sets of proceedings be heard together, with such trial likely to occur in 2015.
VEI will continue to strongly defend all allegations made by Dr Unger against it and has strong defences on which it will rely. Further, VEI will continue to pursue its counterclaim against Dr Unger for the debt owed to it.
Shane Tanner
Chairman, Vision Eye Institute Limited
Investor/Media enquiries please contact:
Brett Coverdale, Managing Director & CEO on +613 8844 4000

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