Wellington Capital PIF/Octaviar (MFS) PIF
- Thread starter breaker1
- Start date
- Joined
- 14 August 2008
- Posts
- 33
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
Have those that propose a NO vote contacted the media. I assume you have but it doesnt seem to have been picked up. Maybe you should try again.
I think that would be the best course of action. At least it would get your view widely known. After all you need 25% to be successful.
I know ACA and TT suck and are not everyones cup of tea but they are watched and you may just get the exposure to air your grievances that people will hear you.
Also the other day in the Age (by M West I think) there was an article about the City Pacific Fund, which appeared highly critical of the proposal to issue preference shares in City Pacific shares in return for giving up your right to redeem.
That proposal seems a little better than the one proposed by WC. At least that proposal was optional.
Now that you have a legal opinion and a "united" position going forward it is worth trying again with the media.
Here is the link to the article that I referred to
http://business.theage.com.au/busin...20080902-47e0.html?page=fullpage#contentSwap1
It has the journalists contact details at the bottom,
Have those that propose a NO vote contacted the media. I assume you have but it doesnt seem to have been picked up. Maybe you should try again.
I think that would be the best course of action. At least it would get your view widely known. After all you need 25% to be successful.
I know ACA and TT suck and are not everyones cup of tea but they are watched and you may just get the exposure to air your grievances that people will hear you.
Also the other day in the Age (by M West I think) there was an article about the City Pacific Fund, which appeared highly critical of the proposal to issue preference shares in City Pacific shares in return for giving up your right to redeem.
That proposal seems a little better than the one proposed by WC. At least that proposal was optional.
Now that you have a legal opinion and a "united" position going forward it is worth trying again with the media.
Here is the link to the article that I referred to
http://business.theage.com.au/busin...20080902-47e0.html?page=fullpage#contentSwap1
It has the journalists contact details at the bottom,
- Joined
- 11 July 2008
- Posts
- 263
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
What dose i mater If we dont get the 3 cents or 6 cents Its only taking value out of the fund which it realy cant afford to do You will get it in the end with a controlled wind down anyway Realy & truley Funds should never pay out income when they have lost 55% of there value / Dane //
Re: Octaviar MFS Premium Income Fund PIF
But I'd sooner take that chance than risk getting just 14 cents full stop!
But I'd sooner take that chance than risk getting just 14 cents full stop!
- Joined
- 11 July 2008
- Posts
- 263
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
John that would never happen You would have a better chance of being eaten by a crocodile Then that happering I just sent my voteing papers in i am not telling you what i voted for i will keep you all guessing / Dane //
- Joined
- 21 June 2008
- Posts
- 28
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
Dane,
Why bother wasting money on a stamp, why didn't you just shred it at home ?
Dane,
Why bother wasting money on a stamp, why didn't you just shred it at home ?
- Joined
- 11 July 2008
- Posts
- 263
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
YOu know if things don't go my way at the coming meeting I will through one big mighty tantrum & the heaves will have to frog march me screaming out of the room / Dane //
- Joined
- 11 July 2008
- Posts
- 263
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
What & do someone at WC out of a job / Dane //
Re: Octaviar MFS Premium Income Fund PIF
He called a meeting with board members , and tried to raise $500 million with City Pacific, the false lie that this would pull MFS (PIF) out of the poo. this was the time the **** fell out of fund and every thing connected to MFS,surely King must have known that the company they were trying to raise money from, was in as much trouble as his was.
can you imagine where we would be today if that transaction had gone ahead ,we wouldnt be talking about 14 cents, actually i dont think we would be talking at all. what a crook he must have known.cheers Flatback
Having just read the article, how can this be , as i can recall that the same company that this referes to, was aproached by our polo riding crook then MFS boss.
He called a meeting with board members , and tried to raise $500 million with City Pacific, the false lie that this would pull MFS (PIF) out of the poo. this was the time the **** fell out of fund and every thing connected to MFS,surely King must have known that the company they were trying to raise money from, was in as much trouble as his was.
can you imagine where we would be today if that transaction had gone ahead ,we wouldnt be talking about 14 cents, actually i dont think we would be talking at all. what a crook he must have known.cheers Flatback
- Joined
- 22 May 2008
- Posts
- 758
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
I assume you're referring to the articles all over the press on 8 April of him flying to Singapore to recover the Opes Prime millions. (E.g. http://www.news.com.au/heraldsun/story/0,21985,23504741-661,00.html)
Sad thing is, the info and options vacuum created by the regulatory hole in the safety net we seem to be hanging over makes opportunities for entities such as his 'Arbitrations and Mediations' business thrive. I certainly don't suppport it.
Now that you mention sharks, the funds market seems to be full of em including MFS and City Pacific. It's the dry land of big banks all the way for me now. After the ATO takes it's cut, the risk is just not worth it. And if the Fed or States don't like the consolidation, tough. They've got their chance to do something about it right now and they've done nothing.
I assume you're referring to the articles all over the press on 8 April of him flying to Singapore to recover the Opes Prime millions. (E.g. http://www.news.com.au/heraldsun/story/0,21985,23504741-661,00.html)
Sad thing is, the info and options vacuum created by the regulatory hole in the safety net we seem to be hanging over makes opportunities for entities such as his 'Arbitrations and Mediations' business thrive. I certainly don't suppport it.
Now that you mention sharks, the funds market seems to be full of em including MFS and City Pacific. It's the dry land of big banks all the way for me now. After the ATO takes it's cut, the risk is just not worth it. And if the Fed or States don't like the consolidation, tough. They've got their chance to do something about it right now and they've done nothing.
- Joined
- 22 May 2008
- Posts
- 758
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
LOL!!! For someone who doesn'tspell, you're very witty.
LOL!!! For someone who doesn'tspell, you're very witty.
- Joined
- 22 May 2008
- Posts
- 758
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
Morning tea? Or perhaps they're busy with City Pacific, Allco, Centro, Opes Prime, One Tel, Ansett, Bond, Quintex, Pyramid etc.
Morning tea? Or perhaps they're busy with City Pacific, Allco, Centro, Opes Prime, One Tel, Ansett, Bond, Quintex, Pyramid etc.
- Joined
- 11 July 2008
- Posts
- 263
- Reactions
- 0
- Joined
- 5 June 2008
- Posts
- 105
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
Message to Newwwtrader. The preference shares are totally different and also wouldn't work for WC. City Pac units are deemed to be worth $1 per unit...it is simply a way of redeeming sooner than the 360 days. (which has 180 ish to go)...or staying for the long haul of 10 years with 3% above Reserve Bank interest rate. CP unit holders will be able to redeem after 360 days, at this point in time...but risk their interest being suspended or lessened in the meantime...where as if they take CPS.s the interest is cumulative. Totally unsutable for us.
Message to Newwwtrader. The preference shares are totally different and also wouldn't work for WC. City Pac units are deemed to be worth $1 per unit...it is simply a way of redeeming sooner than the 360 days. (which has 180 ish to go)...or staying for the long haul of 10 years with 3% above Reserve Bank interest rate. CP unit holders will be able to redeem after 360 days, at this point in time...but risk their interest being suspended or lessened in the meantime...where as if they take CPS.s the interest is cumulative. Totally unsutable for us.
Re: Octaviar MFS Premium Income Fund PIF
What I don't understand is why a few, and I think it is only a few, people are so against WC. Its not as if you people have a suitable alternative other than to speculate and call JH's bluff. We're not at a casino here and the odds are stacked up high against us if we don't go forward with WC. If there is an alternative then someone needs to surface soon and with real action or maybe go and have a cup of tea.
What I don't understand is why a few, and I think it is only a few, people are so against WC. Its not as if you people have a suitable alternative other than to speculate and call JH's bluff. We're not at a casino here and the odds are stacked up high against us if we don't go forward with WC. If there is an alternative then someone needs to surface soon and with real action or maybe go and have a cup of tea.
- Joined
- 4 May 2008
- Posts
- 288
- Reactions
- 0
Re: Octaviar MFS Premium Income Fund PIF
Even if they had an alternative they could not sell it to the 10,000 in the short space of time between now and the vote count.
Even if they had an alternative they could not sell it to the 10,000 in the short space of time between now and the vote count.
Re: Octaviar MFS Premium Income Fund PIF
I can only speak for myself but I have found this forum very good and I would like to thank Breaker I for starting it. Without it there would have been far less knowledge, the number of views on this are huge and speak for themselves. Assuming WC get the 75% vote, which is on the cards, I hope that this thread keeps going as we investors still have a lot to recover and will be no watching and waiting for JH to live up to her word.
I can only speak for myself but I have found this forum very good and I would like to thank Breaker I for starting it. Without it there would have been far less knowledge, the number of views on this are huge and speak for themselves. Assuming WC get the 75% vote, which is on the cards, I hope that this thread keeps going as we investors still have a lot to recover and will be no watching and waiting for JH to live up to her word.
