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Wellington Capital PIF/Octaviar (MFS) PIF

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reasonable said:
I had thought that the action group was trying to stop the rights issue but am informed by WC that:-

Wellington has not been served with any legal proceedings which would result in allowing ‘the pif action group to stop it’.
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Oh yes they have thanks to the PIF Action grp &or Castlereagh, we were told about it today at the Melb PIF Action Grp meeting. She just deceives and lies and keeps getting away with it. I haven't even seen the anonymous 1 page piece of trash that is probably in my mail box at home, so will read it tonight just to see what new lies WC has come up with this time.... Its all just another attempt at mud slinging and we are all so sick of it. WC are trying to confuse people so they don't know who to vote for and this is a problem. When i was at the meeting in Melb today, one unit holder advised that JH was in a meeting with his financial adviser while he was at the PIF Action grp meeting and he didn't care what the adviser suggests after his meeting with JH, he was sending in his YELLOW form and voting FOR all motions.

If you haven't been to a Castlereagh run for the PIF Action Grp meeting yet, try to get to one or at least watch the video on the Castlereagh website. Very informative great work PIF Action Grp in getting everything moving and taking action. I'm only a small unit holder but really happy to have people that know what they are talking about and are unit holders working for the best outcome for all unit holders something WC are not.

Just another quick point. At the Melb meeting today one unit holder said he was concerned that unit holders have given up and lost interest because 3yrs ago at a unit holder meeting in Melb there were 300 people present and today there were only about 30-35 people present. This is an issue for all of us, I dont know everything going on behind the scenes but i hope the Action Grp can turn this around....
Cheers, Sue & Tony
 
Thanks for that update Sue and Tony.

Meetings yet to be held details:

Monday, 6 June 2011 Brisbane 11:00:00 AM Souths Leagues Club Davies Park, Jane Street, WEST END QLD 4101 contact Barbara McClelland


Wednesday, 8 June 2011 Port Macquarie 1:30:00 PM Port Macquarie Race Club "Near corner of Oxley Highway and Lady Nelson Drive
PORT MACQUARIE NSW 2444


Thursday, 16 June 2011 Sydney 11:00:00 AM SMC Conference Centre (Masonic Centre) 66 Goulburn Street, SYDNEY NSW 2000
 
Have just received a double sided flyer from the anonymous REACTION group.
The way I read it they seem to think that Castlereagh Capital and Jim Byrnes ALFPIF are associated.
Nothing could be further from the truth.


 
seamisty, pls clear you messages, you are full and can't receive any messages at the moment.
 
BootsnAll said:
Have just received a double sided flyer from the anonymous REACTION group.
The way I read it they seem to think that Castlereagh Capital and Jim Byrnes ALFPIF are associated.
Nothing could be further from the truth.


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In my mind it appears thats someone is trying to tell us that they're really against the AG whilst also trying to link castlereagh Capital with those snakes from the ALFPIN.
who would Have all three as their current adversaries? - Duh!

A word to the wise!
Please dont upset the retirees and elderly folk. You already know they've been through enough because of you. They might just decide to roll up on live camera feeds during sunrise with posters of you for all the world to see just how you've treated them thus far.
Queens street Brisbane might become a meeting place complete with fold up chairs, walking frames and wonderful grandmothers knitting tea cosy's. Pandoras box certainly has its surprises.
 
I have been a silent reader of this forum for a while but today I feel compelled to inform you that Mr Jenny Hutson in person has been visiting Financial Advisers in Melbourne today.

I have been informed by my Financial Adviser that Jenny was coming to his office this afternoon on her request.

I also made aware of this Castlereagh at the meeting in Melbourne earlier today.

I've just faxed my proxy form to Computershare. For good measure I'll mail it as well.

Good Luck to all of us in getting rid of this awful red jacket.
 
I have also received two flyers in the Post today. This is just appalling, this whole situation we have all been put in is bad enough let alone someone playing stupid mind games. By the way one of my envelopes which was prepaid reads "Postage Paid Australia, Sydney Heads, New South Wales", the other a 60c Stamp.
 
Please keep the prepaid envelope MAE, most who have contacted me have said theirs had a stamp also. We haven't finished with these low lifes and their smear campaign yet. Seamisty
 
I have just read the tawdry, anonymous flyer. Whoever addressed the envelopes must have had recourse to the register. The infuriating contents only increase my admiration for the AG executive. That they should be subject to such innuendos is appalling.
 
Hi Folks,

Gotta say I am green with envy and admiration on how united your unitholders are and what a great job your PIF Action Group have done getting up a challenge to Wellington Capital.

I don't hold any units in your fund, unfortunately I do in the Pacific First Mortgage Fund (PFMF) (the old City Pacific First Mortgage Fund), we appear to share a similar quality of RE!! Unlike your unitholders we are not united and organised.

I sat and listened to the audio presentation today that Castlereagh did and I have to say if they walk the walk like they talk the talk you will do well. They sound very impressive, experienced and genuine.

Wish you luck with you coming vote I hope you get the outcome you deserve and get an RE that will act in the best interests of all your unitholders. The only people that are going to protect your investment are the unitholders, who are the owners of the fund. ASIC, Politicians, Ombudsman etc etc will not do anything to protect you or us, I know as I and many other unitholders tried. We believed they would, so more power to you for taking it up to Wellington who by their current actions seemed very rattled. They probably are sensing their fate!

Rightly or wrongly RE's can if the unitholders let them get away with what they want to do which invariably is diametrically opposed to what is in the best interests of the unitholders. In your case I hope the voices of your unitholders say enough is enough.

Good luck.
 
reasonable said:
Has anyone gone for the rights issue?
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Hi Reasonable,
The rights issue is up to you as an individual.
I can say I havent..
JH and Wellington promised so many things and reneged on everything single thing promised. They have even gone out of their way against investors interests and have blocked and hindered legal proceedings against the previous management.

I hate the idea of having a gun put to my head and then being told that UNKNOWN "sophisticated" investors would ultimately benefit from our losses - hello JIM!

Investors only need to think back on how things have turned out so far. Reality is with Wellington at the helm we've gone backwards. I suspect every single transaction carried out by wellington has a bad smell to it and are not at arms lenght.

Wellington seriously need to be voted out, It will be then that we'll see exactly just how malicious and devious they've been with your money.

Personally I dont trust wellington when you have been given the facts, who does?
 
seamisty said:
Please keep the prepaid envelope MAE, most who have contacted me have said theirs had a stamp also. We haven't finished with these low lifes and their smear campaign yet. Seamisty
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I got our two envelopes which are both post marked Northgate mail centre Qld 4013 6pm 1/6/11 and will hold on to them for the Action Grp, just in-case they are of some use down the track.

Also while at today's Melb meeting Castlereagh offered the truth about the Mirage at Port Douglas dealings and unit holders were given 55c each unit payout and then a final 1/2c in addition after the last creditors were paid. All creditors were paid in full and unit holders originally paid 50c per unit. So you cant allows believe everything you read can you.
Cheers, Sue & Tony
 

I have holdings under my name and holdings held in BT wrap funds (administered by financial advisers). I have been advised that because of the way wrap funds are structured, I do not have voting rights for the wrap fund holding. All PIF related correspondence has been addressed to my holdings outside wrap, never a word through BT.
So why is JH visiting financial advisers?
 
reasonable said:
Has anyone gone for the rights issue?
Click to expand...


Any units not taken up by eligable unit holders will be "placed with interested parties at the discretion of the Responsible Entity" Page 4 of the Rights Issue Information Booklet.
The NTA of the units is around 30 cents. After the rights issue about 27 cents.
WC are selling them for 9cents.I think there will be people queing up for them. I wonder who they will be given to.
I intend to apply.


 

You are so right if we don't take up the offer, outsiders will get in at .09c to our holding so the way i see it, it may dilute our shares but it will also dilute our votes in the future.
I am not a financial adviser and i am only new to the forum, so this is just my view of whats happening.
 
Very interesting to see that there is more than one outlet that the mailouts were posted from. One outlet in Qld, one in Sydney. Makes one have to ask the question just who did cut a secret deal with Jim Byrnes if in fact one actually exists because we know for certain that the PIFAG and Castlereagh Capital would not stoop so low. Who is actually aligned with who? Not exactly professional, businesslike or ethical behaviour from persons who have the motive to smear our name to either retain or gain control of the PIF.Nobody would go to that much trouble without an ulterior motive in my opinion. Seamisty
 

My bet is that the ALFPIF and wellington have aligned. Wellington has spent our money trying to fend off a takeover, They came to a mutual aggreement - Everyone knows that the egm will affect both the sponges at Wellington and BIG Jims Interest.

I got my letters in the mail today one is stamped and the other one is prepaid. I'm going to front australia post and others to see what I can find out.
I wonder how the police would handle 10500 investors complaining?

Gotta say, the pictures of you guys in the flyer look just like I imagined.... minus the halo's of course.
 
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