Australian (ASX) Stock Market Forum

Wellington Capital PIF/Octaviar (MFS) PIF

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Re: Octaviar MFS Premium Income Fund PIF

seamisty said:
Well we have all been insisting on transparency and openness, so hey, they give us that and you are suspicious and looking for hidden agendas. HELLO, for a minority, it will not matter what WC do, it will be WRONG!!!! GET OVER IT!!!
Click to expand...

Hi Seamisty, I have to ask.......where have Wellington given anyone "transparency and openness" ?? Please give me an example. I could give you lots of examples where they haven't.
My purpose is not to dish Wellington, only to oppose the specific resolutions they have put forward for voting on. I am here to fight for unitholders rights and their best interests. The best interests of a lot of unitholders may not be the same as yours. You obviously are astute and well off - others are not.
Thought you might have a response to my post 2237 regarding the truth about how an administrator would look after unitholders interests. Funny, when facts and logic are presented, the Yes voters don't have much to say.
Good luck to you too............you probably don't need it as much as others do though.
Power to the people who need it most !!!!!!!!!
 
Re: Octaviar MFS Premium Income Fund PIF

breaker1 said:
:horse:

COLD! Not JH, work it out, I'll let you know when you're gettin warm!
Click to expand...

Hey isn't that horse's name "breaker". Sorry mate, but it really is a shame to see you give up the way you have. Wish you could keep the faith that you initially put in people. It's still there.........don't give up. There's more of us now and WE WILL KEEP FIGHTING.
 
Re: Octaviar MFS Premium Income Fund PIF

Burnt said:
Hey isn't that horse's name "breaker". Sorry mate, but it really is a shame to see you give up the way you have. Wish you could keep the faith that you initially put in people. It's still there.........don't give up. There's more of us now and WE WILL KEEP FIGHTING.
Click to expand...

Gettin personal now Burnt! LOL

No! The answer is your agenda package and its horrible timing!

Nobody said anything about giving up!

You appear to have given little thought about the investors your dealing with, their current opinions and mindset on voting for WC, that is your error. You talk about people power, but your not even listening to those very people. It might pay to get your eye off your minority agenda for the moment and start getting surveys as to what the PIF people you need to support you are really thinking in regards to WC and the resolution vote. I counsel you to do that, I have and that is why I can't support your shakey breakaway faction package at this critical time, no matter how idealistic and well intentioned.

Investors want to give Jenny a go!!! Do I have to put a swear word before go? It is not going against the grain for you to do what you are doing at this very time - it is more like walking in front of a moving bus - put yer glasses on!! OOPs! Too late!

Time will tell Burnt!
 
Re: Octaviar MFS Premium Income Fund PIF

TIME WILL TELL And i am afraid to say it sure will The one big thing you are all forgetting is when it comes time to sell your units you have only one choice & that is the NSX exchange Weather it next year or 7 years time No mater what your units are worth don't expect much on the NSX on top of that a big cost in selling You may think in years to come that winging Dane was right Enjoy your day /Dane //
 
Re: Octaviar MFS Premium Income Fund PIF

DoraNBoots said:
People should start recording conversations with WC hotline staff to see if they are willing to BS for the record. I think you may need let them know you are recording the conversation to begin with to make it binding. Does anyone have the capability to do this?

Boots
Click to expand...

Dear Boots and other PIF unitholders,

There was an article in the newspaper on the weekend that said it was illegal to tape telephone calls. Even the police aren't allowed to do it without a court order.
We've all lost money, but what we don't need to risk is going to jail as well.
I've spoken to ASIC and they've said to vote no if I don't like the process - I'd much rather vote no and take my chances if that I what I indeed decide to do, but risking jail time over a lost investment is something that seems pretty extreme.

Just a voice of reason ....

SPLITPIN - when we unitholders expect to receive their material from the PIF Initiative Incorporated?

Cheers
PIFHolder
 
Re: Octaviar MFS Premium Income Fund PIF

LET’S MAKE THIS AS PLAIN AS DAY

THERE NEVER HAS BEEN A STRUCTURED ORGANIZED GROUP OF INVESTORS WITH ANY LEGAL AUTHORTITY OR INDEMNITY FOR MEMBERS UNTIL THE PIFI WAS CREATED.

Personally I can’t think of many things lower (maybe murder or rape comes to mind) than intimidating investors 95% who are over the age of 65 with liquidating their assets arbitrarily and senselessly) to make a dollar.

We consider that this is morally ethically indefensible .and that other alternatives should have been made available for investors to consider.

We can now inform everybody on this site that we have an eight page legal document from Hicksons lawyers that supports that opinion and indicates breaches of the Corporations Act

This document will be made available to all who would like to join the PIFI

I do not intend to engage in any personal arguments and hold no animosity to those who have different opinions (in fact I have a friend on this site who I hold in high regard that supports JH.)


Every investor’s circumstance are unique and ultimately people will vote for what is in their best interests.
 
Re: Octaviar MFS Premium Income Fund PIF

breaker1 said:
Gettin personal now Burnt! LOL

No! The answer is your agenda package and its horrible timing!

Nobody said anything about giving up!

You appear to have given little thought about the investors your dealing with, their current opinions and mindset on voting for WC, that is your error. You talk about people power, but your not even listening to those very people. It might pay to get your eye off your minority agenda for the moment and start getting surveys as to what the PIF people you need to support you are really thinking in regards to WC and the resolution vote. I counsel you to do that, I have and that is why I can't support your shakey breakaway faction package at this critical time, no matter how idealistic and well intentioned.

Investors want to give Jenny a go!!! Do I have to put a swear word before go? It is not going against the grain for you to do what you are doing at this very time - it is more like walking in front of a moving bus - put yer glasses on!! OOPs! Too late!

Time will tell Burnt!
Click to expand...

This is the appropriate time to act.

We too were hoping WC was going to come up trumps by providing all the options available to unitholders. Instead WC have now demonstrated that they are only interested in providing the options that they are interested in, and presenting those in a deceptive manner. That is not putting US first or acting in OUR best interests.

It has now become apparent that some on this thread were prepared to accept whatever WC shovelled out.

If the constitutional changes go in it is going to be very difficult for investors to affect any change in the future. Besides that, the constitution is riddled with errors!
 
Re: Octaviar MFS Premium Income Fund PIF

PIFholder said:
Dear Boots and other PIF unitholders,

There was an article in the newspaper on the weekend that said it was illegal to tape telephone calls. Even the police aren't allowed to do it without a court order.
We've all lost money, but what we don't need to risk is going to jail as well.
I've spoken to ASIC and they've said to vote no if I don't like the process - I'd much rather vote no and take my chances if that I what I indeed decide to do, but risking jail time over a lost investment is something that seems pretty extreme.

Just a voice of reason ....

SPLITPIN - when we unitholders expect to receive their material from the PIF Initiative Incorporated?

Cheers
PIFHolder
Click to expand...

It is not illegal to tape telephone conversations. Ever heard "this call is being recorded for training purposes"?
 
Re: Octaviar MFS Premium Income Fund PIF

PIFholder said:
Dear Boots and other PIF unitholders,

There was an article in the newspaper on the weekend that said it was illegal to tape telephone calls. Even the police aren't allowed to do it without a court order.
We've all lost money, but what we don't need to risk is going to jail as well.
I've spoken to ASIC and they've said to vote no if I don't like the process - I'd much rather vote no and take my chances if that I what I indeed decide to do, but risking jail time over a lost investment is something that seems pretty extreme.

Just a voice of reason ....

SPLITPIN - when we unitholders expect to receive their material from the PIF Initiative Incorporated?

Cheers
PIFHolder
Click to expand...
You are allowered to record phone calls But must let the person know It is done all the time that way / Dane //
 
Re: Octaviar MFS Premium Income Fund PIF

PIFholder said:
Dear Boots and other PIF unitholders,

There was an article in the newspaper on the weekend that said it was illegal to tape telephone calls. Even the police aren't allowed to do it without a court order.
We've all lost money, but what we don't need to risk is going to jail as well.
I've spoken to ASIC and they've said to vote no if I don't like the process - I'd much rather vote no and take my chances if that I what I indeed decide to do, but risking jail time over a lost investment is something that seems pretty extreme.

Just a voice of reason ....

SPLITPIN - when we unitholders expect to receive their material from the PIF Initiative Incorporated?

Cheers
PIFHolder
Click to expand...

What DnB said was "I think you may need to let them know you are recording the conversation to begin with.."
I don't think you'll go to jail if you say that. Otherwise every business with a call centre would be going to jail.

edit: GD and DnB beat me to it.
 
Re: Octaviar MFS Premium Income Fund PIF

DoraNBoots said:
It is not illegal to tape telephone conversations. Ever heard "this call is being recorded for training purposes"?
Click to expand...

Hi
Is it illegal to use Voice Mail?

I did not let them know but it is Voice Mail thay must be Aware that it is going to be recorded.
Wolfgang

Am I going to jail
 
Re: Octaviar MFS Premium Income Fund PIF

great dame said:
TIME WILL TELL And i am afraid to say it sure will The one big thing you are all forgetting is when it comes time to sell your units you have only one choice & that is the NSX exchange Weather it next year or 7 years time No mater what your units are worth don't expect much on the NSX on top of that a big cost in selling You may think in years to come that winging Dane was right Enjoy your day /Dane //
Click to expand...

GD. I see NSX as merely ticking a box. A bare minimum to pass some basic legal criteria. WC would want as much funds locked in as possible. Fair enough IMO. Business is business. WC would want all of the control over when and how much is paid out in 'distributions'. Much like ASX companies control dividends. (Of course, we don't have anywhere near the liquidity. Shareholders have only one power, their feet, to sell out; and the more that sell the lower the price goes - putting pressure on management.)

I'm asking myself, where will the pressure on WC to perform come from.

If the NSX remains the only exit, the price languishes and WC don't pay out distributions then NewPIF would get rated as being one of the worst funds in Aust. Which is not good for the WC brand and something they'll want to avoid. Or am I dreaming? It's now in print that WC have valued the units at 45c. WC would look pretty bad if they can't return that in 3/5 years. Or am I wrong? (After all the economy IS growing at 3% pa.)

My biggest concern about the NSX is the effect it will have on capital raising. Diluting our holdings. Poor liquidity and a low listed price 'aint exactly going to put us existing investors in the driver's seat when it comes to negotiating terms with new capital.

I fear threats like over at LLA where investors who didn't participate in the capital raise lost value. That's akin to standover behaviour by management - give me more money or I'll hurt you financially.

I'm still deciding.
 
Re: Octaviar MFS Premium Income Fund PIF

Wolfgang said:
Hi
Is it illegal to use Voice Mail?

I did not let them know but it is Voice Mail thay must be Aware that it is going to be recorded.
Wolfgang

Am I going to jail
Click to expand...

No Wolfgang, You will not "Go directly to Jail" But if it is a no vote, we will not pass go and will not receive a 6 cent return on what is now worth 45 cents!
 
Re: Octaviar MFS Premium Income Fund PIF

JohnH said:
No Wolfgang, You will not "Go directly to Jail" But if it is a no vote, we will not pass go and will not receive a 6 cent return on what is now worth 45 cents!
Click to expand...

Thanks for that JohnH it’s the best news I have had all day

Wolfgang
:alcohol:
 
Re: Octaviar MFS Premium Income Fund PIF

Hi Jadel,
Very well said!!!
We finally have a legal opinion which confirms OUR SUSPICIONS about the whole MESS ans related breaches of the Corporations Act...
I now SINCERELY urge all unit holders to join the PIFI, obtain a copy of the document and approach the matter in an orderly, structured & LEGAL manner as a total UNIT rather than individually ( united we stand.....etc. etc.)


Jadel said:
LET’S MAKE THIS AS PLAIN AS DAY

THERE NEVER HAS BEEN A STRUCTURED ORGANIZED GROUP OF INVESTORS WITH ANY LEGAL AUTHORTITY OR INDEMNITY FOR MEMBERS UNTIL THE PIFI WAS CREATED.

Personally I can’t think of many things lower (maybe murder or rape comes to mind) than intimidating investors 95% who are over the age of 65 with liquidating their assets arbitrarily and senselessly) to make a dollar.

We consider that this is morally ethically indefensible .and that other alternatives should have been made available for investors to consider.

We can now inform everybody on this site that we have an eight page legal document from Hicksons lawyers that supports that opinion and indicates breaches of the Corporations Act

This document will be made available to all who would like to join the PIFI

I do not intend to engage in any personal arguments and hold no animosity to those who have different opinions (in fact I have a friend on this site who I hold in high regard that supports JH.)


Every investor’s circumstance are unique and ultimately people will vote for what is in their best interests.
Click to expand...
 
Re: Octaviar MFS Premium Income Fund PIF

Jadel said:
....Personally I can’t think of many things lower (maybe murder or rape comes to mind) than intimidating investors 95% who are over the age of 65 with liquidating their assets arbitrarily and senselessly) to make a dollar. ....
Click to expand...


I agree Jadel. It is morally reprehensible when you put it like that. Or at best, heavy handed business practice.

If WC gets over the line we'll have to hope WC will also apply their tough business accumen FOR (the benefit of) PIF when they negotiate terms with borrowers.
 

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