Wellington Capital PIF/Octaviar (MFS) PIF

[seamisty]

Byrnes' PIF bid blocked by panel Colin Kruger
May 26, 2011

Read more: http://www.smh.com.au/business/byrnes-pif-bid-blocked-by-panel-20110525-1f4ct.html#ixzz1NOvpV7hs

From the article:More than a year ago Wellington replaced Computershare as the registry for the National Stock Exchange-traded PIF units with Armstrong Registry Services.

Wellington's board members - including managing director Jenny Hutson - are all directors of Armstrong, which also shares its address with Wellington.

PIF paid out more than $1.5 million in custodian and registry fees for the 2009 and 2010 financial years

 

[JohnH]

Byrnes' PIF bid blocked by panel Colin Kruger
May 26, 2011

Read more: http://www.smh.com.au/business/byrnes-pif-bid-blocked-by-panel-20110525-1f4ct.html#ixzz1NOvpV7hs

From the article:More than a year ago Wellington replaced Computershare as the registry for the National Stock Exchange-traded PIF units with Armstrong Registry Services.

Wellington's board members - including managing director Jenny Hutson - are all directors of Armstrong, which also shares its address with Wellington.

PIF paid out more than $1.5 million in custodian and registry fees for the 2009 and 2010 financial years

That could be the final straw Seamisty. The Computershare ceased on 23rd April last year and Armstrong commenced on the 27th. Can we find out how much Armstrong is costing us per year compared to Computershare?

 

[Duped]

I have recently received information from Wellington Capitol re an offer of .09c shares and am asking this forum why I should not accept, as this would surely dilute my financial loss.

Have you tried putting a bid on the NSX @ 8.9c? Or even 8.8c. If you're successful you'll have achieved the same result (dollar cost averaging) AND have saved yourself 1% - 2% on WC's 9c offer AND put upward pressure on the price for your current units? If not succesful you could always then pay 9c for the new units being placed by WC.

 

[pixierich]

While not posting very often, I read this thread daily. My sincere thanks to Breaker, Charles, Seamisty et al for making the 16 June meeting possible.
I have just booked flights from Hobart so I can be there in person to support your efforts and stick up both my hands for the "YES" vote.
Can someone answer this question: My wife and I hold our units (222,000) in joint names; only I shall be at the meeting; can I vote on her behalf at the meeting, or should I bring completed yellow form??
Thanks in anticipation, and looking forward to meeting you all on the big day.

 

[seamisty]

I just had a phone call from a PIF unitholder who was absolutely disgusted at Wellington Capitals constant need to try and convince PIF investors of their outstanding performance referring to the last NSX announcement http://www.nsxa.com.au/ftp/news/021724040.PDF
HELLO WC? If this was the case you would not have people clambering to sign Castlereaghs YELLOW FORM included in their document package, you would not have a LARGE amount of PIF investors totally dissatisfied with not only the your past lack of transparency, your constant FAILURE to respond to correspondence from investors, your large legal costs at our expense with to date has achieved absolutely STUFF ALL, not to mention the loss of MILLIONS of $$$ under the management of WC and the team of 30 highly trained professionals!! Lets not forget the placement and rights issue of which from I am looking will only benefit WC and some 'sophisticated' investors when I am sure that we could not have been worse off with a business bank loan IF IN FACT it was actually necessary to get ones hands on some cash in a hurry.
This investor also failed to see why the picture of MS Hutson had to be presented in colour while the chair of our proposed PREFERED choice of Responsible Entity, Ian Ferrier is presented in a black and white mug shot!!!! Well, my answer to that was that some people less photogenic need all the help they can get

For anyone not sure about how to fill in their YELLOW FORM please do not hesitate to call Castlereagh on 1300 661 651
Seamisty

 

[seamisty]

While not posting very often, I read this thread daily. My sincere thanks to Breaker, Charles, Seamisty et al for making the 16 June meeting possible.
I have just booked flights from Hobart so I can be there in person to support your efforts and stick up both my hands for the "YES" vote.
Can someone answer this question: My wife and I hold our units (222,000) in joint names; only I shall be at the meeting; can I vote on her behalf at the meeting, or should I bring completed yellow form??
Thanks in anticipation, and looking forward to meeting you all on the big day.

Look forward to seeing you at the meeting pixierich. We are encouraging everyone to fill in their YELLOW proxy form and send it off as soon as is convenient, to be received by Computershare by no later than the 13th June even if they will be attending the meeting in person. Thanks, Seamisty

 

[thekids]

I just had a phone call from a PIF unitholder who was absolutely disgusted at Wellington Capitals constant need to try and convince PIF investors of their outstanding performance referring to the last NSX announcement http://www.nsxa.com.au/ftp/news/021724040.PDF
HELLO WC? If this was the case you would not have people clambering to sign Castlereaghs YELLOW FORM included in their document package, you would not have a LARGE amount of PIF investors totally dissatisfied with not only the your past lack of transparency, your constant FAILURE to respond to correspondence from investors, your large legal costs at our expense with to date has achieved absolutely STUFF ALL, not to mention the loss of MILLIONS of $$$ under the management of WC and the team of 30 highly trained professionals!! Lets not forget the placement and rights issue of which from I am looking will only benefit WC and some 'sophisticated' investors when I am sure that we could not have been worse off with a business bank loan IF IN FACT it was actually necessary to get ones hands on some cash in a hurry.
This investor also failed to see why the picture of MS Hutson had to be presented in colour while the chair of our proposed PREFERED choice of Responsible Entity, Ian Ferrier is presented in a black and white mug shot!!!! Well, my answer to that was that some people less photogenic need all the help they can get

For anyone not sure about how to fill in their YELLOW FORM please do not hesitate to call Castlereagh on 1300 661 651
Seamisty

Just wanted to say THANK-YOU for the information that you and others post here, they are very helpful for the lay-person that really didn't understand what they could do about the our shares that continue to mismanaged. I wish i had found out about the forum a long time ago, it helps to know that your not on your own and there may be ways to help our common cause. We now know how to vote and we will send the YELLOW FORM off today to make sure our votes are counted. Many thanks, Sue & Tony

 

[Duped]

While not posting very often, I read this thread daily. My sincere thanks to Breaker, Charles, Seamisty et al for making the 16 June meeting possible.
I have just booked flights from Hobart so I can be there in person to support your efforts and stick up both my hands for the "YES" vote.
Can someone answer this question: My wife and I hold our units (222,000) in joint names; only I shall be at the meeting; can I vote on her behalf at the meeting, or should I bring completed yellow form??
Thanks in anticipation, and looking forward to meeting you all on the big day.

Call and ask Castlereagh. It's in their interests that your vote is validly cast. Let us know what you find out.

From the PIF constitution:
"2.3 Persons registered jointly as the holder of a Unit hold as joint tenants and not as tenants in common unless otherwise specified by an Applicant in the Application form."

 

[k.smith]

I have sent my vote by FAX...as per the yellow form..

"alternatively you can FAX your form to 61 3 9473 2145"

if you are faxing from Melbourne, just fax to 9473 2145

if you are faxing from another state, you will need to put the area code,
so 03 9473 2145

the 61 is there for overseas votes...

You can verify that Computershare have received your vote by calling them. (I did)

 

[Mutchy]

While not posting very often, I read this thread daily. My sincere thanks to Breaker, Charles, Seamisty et al for making the 16 June meeting possible.
I have just booked flights from Hobart so I can be there in person to support your efforts and stick up both my hands for the "YES" vote.
Can someone answer this question: My wife and I hold our units (222,000) in joint names; only I shall be at the meeting; can I vote on her behalf at the meeting, or should I bring completed yellow form??
Thanks in anticipation, and looking forward to meeting you all on the big day.

Dear pixierich.
As you will both have to sign the proxy form and only one of you is coming to Sydney (and the plane may be late!) please complete and sign and post the proxy form.
Steve Mutch
Hon Sec PIF AG Inc.

 

[rmstrader]

Gutter tactics are a two way street JohnH! Does Wellington Capital honestly think that PIF investors are so stupid to not see through what they are trying as a result of sheer desperation to achieve here? I would have thought Jenny Hutson as CEO of G8 education had more serious issues to deal with with than using false amd misleading information to discredit others?

My information is that the that Singapores' MCYS (Ministry of Community Development, Youth and Sports) has launched an investigation into G8 Education, trading as GEM on the ASX re: 'failure to uphold operational standards in childcare centres' relating to the death of a child attending one of the Cherie Hearts centres under G8 management.

Cherie Hearts has also commenced actions to void their contract with G8 Education. As of last week, CH have been regaining some of their company's assets including company vehicles etc.

So JohnH, in the other corner is a boxing kangaroo wearing red gloves and black gumboots!!


Seamisty

Seamsity - Who every your are, I can see that your dissemination of information is not based on providing helpful commercial investment information. It is at best a misguided approach that is based on some malicious personal intent and vendetta.
I have already asked for a response on another blog “G8 Education” regarding the validity of what I suspect is defamatory – unsubstantiated letter, that is not on the company’s letterhead that it is suppose to be from and is not even signed. In spite of two requests you have not been forthcoming in providing a response, why?
Now I note that with contempt your misinformation above.
Point 1.
Jenny Hudson is not the “CEO of G8 Education” Mr. Craig Chapman is – you can’t even get a basic thing like this right. Jenny Hudson is not even an executive of the company!
Point 2.
Upon reading your next statement re the death of the child “attending on the Cherie Hearts centre” I have been advised that the child passed away not at the centre. Interesting point – this centre is a franchise centre under the control and management of the Cherie Hearts management and was before G8 Education had even made the takeover offer. I am not sure if you are trying to imply that the Cherie Hearts team was somehow responsible.
My company was for some 10 years a corporate sponsor of one of the leading Australian SIDS foundations (sudden infant death syndrome) and until recently I was an advisors board member. I have seen the anguish that this causes and it is devastating. You are using a sad situation – that the parents of the child are on record as saying that this is a “private matter” and ”wish to be left alone in their grief” to pursue some perverted and bitter goal. It appears that you understand all about gutter tactics – because that where you appear to be working from.
Your logo of the “shark” is fitting for you. I hope you have the gust to apologies to all concern.
I intend to lodge a formal complaint with the site managers, ASX and ASIC regarding your postings.

You are a disgrace to use the circumstance of the death of a child in this manner.

 

[seamisty]

Seamsity - Who every your are, I can see that your dissemination of information is not based on providing helpful commercial investment information. It is at best a misguided approach that is based on some malicious personal intent and vendetta.
I have already asked for a response on another blog “G8 Education” regarding the validity of what I suspect is defamatory – unsubstantiated letter, that is not on the company’s letterhead that it is suppose to be from and is not even signed. In spite of two requests you have not been forthcoming in providing a response, why?
Now I note that with contempt your misinformation above.
Point 1.
Jenny Hudson is not the “CEO of G8 Education” Mr. Craig Chapman is – you can’t even get a basic thing like this right. Jenny Hudson is not even an executive of the company!
Point 2.
Upon reading your next statement re the death of the child “attending on the Cherie Hearts centre” I have been advised that the child passed away not at the centre. Interesting point – this centre is a franchise centre under the control and management of the Cherie Hearts management and was before G8 Education had even made the takeover offer. I am not sure if you are trying to imply that the Cherie Hearts team was somehow responsible.
My company was for some 10 years a corporate sponsor of one of the leading Australian SIDS foundations (sudden infant death syndrome) and until recently I was an advisors board member. I have seen the anguish that this causes and it is devastating. You are using a sad situation – that the parents of the child are on record as saying that this is a “private matter” and ”wish to be left alone in their grief” to pursue some perverted and bitter goal. It appears that you understand all about gutter tactics – because that where you appear to be working from.
Your logo of the “shark” is fitting for you. I hope you have the gust to apologies to all concern.
I intend to lodge a formal complaint with the site managers, ASX and ASIC regarding your postings.

You are a disgrace to use the circumstance of the death of a child in this manner.

At no time did I ever intend to cause further grief to the families concerned. I sincerely apologise to any I may have offended. Jenny Hutson is not the CEO, sorry she is non executive director, chairperson and a sustantial holder in G8.
My post said 'relating to the death of a child attending one of the Cherie Hearts centres under G8 management' In hindsight I should have said who attended.

The unfortunate incident occured on the 14th April 2011. G8 made an announcement to the ASX on the 19 April 2011 which stated 'the Cherie Hearts Group International PTE LTD is not directly involved in operating the Cherie Hearts childcare centres and primarily acts as a holding company for the vendor' http://www.hotcopper.com.au/asx_announcements.asp?id=292510 I assumed this meant that G8 was still in control of operating all the CH childcare centres they had previously aquired in Dec 2010??

I have the required documents substaniating my posts which I will provide to any or all of the above. Good luck with getting a response from ASIC! Sorry I did not respond to your posts on the GEM thread, I was not aware of them.
I have earnt my 'logo' and am proud of it. Seamisty

 

[elizaman]

Hi All, I have just received an update from IMF so check your emails. Please be aware that the content is privileged, private and confidential and should not be disclosed to any third party. Seamisty

Would this be an email to PIF AG members? or others

 

[seamisty]

Would this be an email to PIF AG members? or others

elizaman I asume that all PIF investors who signed up to participate in the Class Action will have received it. Seamisty

 

[ASICK]

If we were deterred by errors, we wouldn't post at all.

In any event, anyone who relies on any information on Aussie Stock Forums to make or vary an investment clearly hasn't read the site disclaimer:

"... TO THOSE VIEWING POSTS ON AUSSIE STOCK FORUMS

Aussie Stock Forums does not endorse or vouch for the accuracy or authenticity of postings.

No-one is permitted to make postings as a licensed investment adviser, or as a representative of a licensed adviser.

Postings are at best general information, not professional investment advice prepared by taking into account any individual circumstances and needs of particular investors. Therefore, before acting on the basis of what is said in a posting, you should:
(i) consider consulting a licensed adviser (ASIC’s website at www.asic.gov.au has a list of licensed advisers); and
(ii) visit ASIC’s consumer website at www.fido.gov.au for general guidance about investing.

People making postings are individually responsible for the accuracy and authenticity of their postings.

Because of the nature of the internet, it may be hard to identify or locate the person making a posting. The person may also be in an overseas jurisdiction, so it may be hard to take any legal action against them.

You will have no access to ASIC-approved dispute resolution schemes to recover any losses you may suffer by relying on the postings. Securities cannot be offered to you for sale or issue through postings on Aussie Stock Forums.

It is advisable that you alert the management of Aussie Stock Forums (using the website contact form or 'Report a Post' function) or the ASIC Infoline on 1300 300 630 if you have good reason to suspect that any postings are inaccurate, are based on inside information or are likely to mislead or deceive people who view or use the postings. ..." (emphasis added)

 

[zixo]

Can someone please explain to me in simple terms for those of us who have little understanding for the justification of ASICS decision on the rights issue?
From my complaint and correspondence with wellington Capital and from the information provided regarding the rights issue I cant make head or tails of it.

If I can’t afford to buy the units on offer It WILL dilute my original investment and they will be sold to an interested third party who in turn will profit from my misfortune and original investment.
I can’t understand how those mum and dad investors who believed wellingtons sell in 2008 and are at the other end of the economic scale due to wellingtons broken promises. How can we not be adversely affected?...It’s there in black and white in Wellingtons booklet on page 16 paragraph 6.2.

 

[JohnH]

Point 1.
Jenny Hudson is not the “CEO of G8 Education” Mr. Craig Chapman is – you can’t even get a basic thing like this right. Jenny Hudson is not even an executive of the company!

Without wishing to add fuel to a tiny fire, isn't Chris Scott M.D. ......... Craig Chapman is listed as "executive director".
http://www.g8education.com/content.cfm/Board_of_Directors/5/

 

[Jadel]

Entirely Agree Asick , these forums serve the function of letting off steam , Perhaps the following post will act a a salutary lesson or be of assistance to some poor soul in the future.

A Cautionary Tale .

This is a very painful story ,because I am forced to admit the cardinal error of investing,not once but twice with the same charlatans and crooks ,was made by a person who was a very naïve investor

I once had the misfortune to invest in a property syndicate called Landmark.

It was run by an Accountant named Stephen Diez.

A few of his properties trusts had tenancy Issues and failed bank Covenants on valuations.

However, their was absolutely no problems with most of the syndicates,, including my own. Government contracted tenants had never missed making a rental payment over a 5 years period

.Nevertheless ,unbelievably, all the syndicates were tarred with the same brush , and, consigned by ASIC into the hands of two entrepreneurs named Kiing and Adams. These two genteleman were the director of an purportedly successful company called MFS.

Now what gives ASIC the right to arbitraily cede property trusts to a private Company without a democratic vote.? Especially when these two characters had a previous sordid histort of failed solicitors loans.

And why should perfectly good Syndicates be lumped in with the bad?

Repeated and desperate attempts were made to ASIC , who was then run by a top honcho called Geoffrey Lucy, pointing out this patently obvious fact, to no avail

It was only then that I fully realised that ASIC was either totally corrupted or complete y incompetent .

And that business is essentially rum by corporate thugs , lawyers who manipulate a flawed and defective financial regulator to feed on the misfortune and misery of those utterly unable to protect themselves

A few courageous souls did make e a valiant effort to contact other investors, in order to convene an EGM to fight this injustice.

Somehow word of this filtered out,and before this action group could continue, King and Adams put in a Rights Issue

The properties were then hugely devalued and listed in a ridiculous short period ,(5 days ) , Starting to ring some bells ,

And who do we now know was once an associate and mentor of Michael King ?

Non other than an ambitions corporate layer named Jenny Hudson .

Of course the majority of ruined and devastated investors did not have the time or money to reinvest in this listed Company .And so King and Adams acquired full control by purchasing the remaining shares and integrated the newly formed Company into into their empire.

Now you may be interested to know the name of the listed Company my greatly devalued and diluted shares turned into ………

GEO … Yes the same GEO that was partly owned by the PIF and subsequently flogged off by Jenny H to one of her business mates. Now listed as GPM

By my reckoning,, I and other investors have know lost something like 95% of their original investment . On a scheme fully sanctioned and condoned by ASIC

And thats not counting the money I invested into the PIF.

My only excuse for this personal financial insanity was that I was beguiled by the Peacock name ,the purported Lloyds insurance cover , and Perpetual name used as Custodian

. Of course, I now realise that was Peacock was impeccably named ,all feathers and no substance.

Thank God he never became Prime minister of Australia.

A sad story for the Jadel family .As part of this Funds invested was Mrs Jadels Superannuation. A fact I am reminded of on many occasions .

I can only hope that the saga we are currently involved in has a different ending.

 

[pixierich]

Call and ask Castlereagh. It's in their interests that your vote is validly cast. Let us know what you find out.

From the PIF constitution:
"2.3 Persons registered jointly as the holder of a Unit hold as joint tenants and not as tenants in common unless otherwise specified by an Applicant in the Application form."

Thanks, Duped. Why didn't I think of that? I rang Castlereagh and they said under those circumstances (see my previous post), to fill out the yellow proxy form with both parties signing and post ASAP, which reinforces Seamisty's advice.
So that's what I've done. It's in the post as I write, hopefully to play its part in the debunking of JH.

Has anyone considered the parallels which can be drawn between what's going on in the Middle East, and our own situation at the moment? Finally the people have had a gutful and speak out. Despots are toppled. Let's hope that we arrive at the same outcome, but let's also be mindful of the fact that when despots realise their days are numbered, they will try to do as much damage as they can before they are finally ousted.

Thanks again, and regards to all.

 

[pixierich]

Dear pixierich.
As you will both have to sign the proxy form and only one of you is coming to Sydney (and the plane may be late!) please complete and sign and post the proxy form.
Steve Mutch
Hon Sec PIF AG Inc.

Thanks, Steve. All under control now. The plane won't be late - I've advised Virgin of the very important nature of this meeting.

Best regards.