Australian (ASX) Stock Market Forum

Wellington Capital PIF/Octaviar (MFS) PIF

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simgrund said:
This is an excerpt from Takeovers Panel declaration from yesterday regarding ALFies "offer extension" beyond 28 Feb this year:

http://www.nsxa.com.au/ftp/news/021724072.PDF

24. It appears to the Panel that the circumstances are unacceptable:
(a) having regard to the effect that the Panel is satisfied the circumstances have had,
are having, will have or are likely to have on:
(i) the control, or potential control, of PIF
(ii) the acquisition, or proposed acquisition, by a person of a substantial interest
in PIF and
(b) having regard to the purposes of Chapter 6 set out in section 602 of the Act and
(c) because they gave or give rise to, or will or are likely to give rise to, a
contravention of a provision of Chapter 6 of the Act.
25. The Panel considers that it is not against the public interest to make a declaration of
unacceptable circumstances. It has had regard to the matters in section 657A(3).
DECLARATION
The Panel declares that the circumstances constitute unacceptable circumstances in relation
to the affairs of PIF.
Allan Bulman
Director
with authority of Peter Scott
President of the sitting Panel
Dated 3 June 2011

My personal Thank You to the Panel for work well done!
A'SICk, take note

Regards,
Click to expand...


Hi Sigmund

Does this mean that the original PIF unit holders who sold to ALFPIF
will get their units back?

do you know what will be done with the votes that the ALF crew currently have ? will they be valid in the upcoming EGM?.

Wellington Capital were probably counting on the ALFPIF for Votes? Surely they wont be going over to Wellington at their disposal!
 
zixo said:
Hi Sigmund

Does this mean that the original PIF unit holders who sold to ALFPIF
will get their units back?

do you know what will be done with the votes that the ALF crew currently have ? will they be valid in the upcoming EGM?.

Wellington Capital were probably counting on the ALFPIF for Votes? Surely they wont be going over to Wellington at their disposal!
Click to expand...

Hi Zixo,
Good to exchange high fives with you again.
Straight reading of Panel's Orders limits the status quo to position pre 28th Feb. I understand that post 28th Feb transactions WILL be REVERSED and NOT ELIGIBLE @ EGM.
If an objection can be lodged for pre 28th Feb then this may put a spanner in ALFies plans to meddle onwards.
I have no idea whether this may be possible.
Perhaps it is A'SIC'k's time to put on Superman's leotards.
I reluctantly opine that THOSE 2 mil plus units are beyond any forced redemption.
and will be a voting block to take notice of.
That's how it looks to me.

Regards, see you soon
 
astevo said:
Dear PIFAG committee,
I've been trying to decide whether to go to the 16 June meeting for a couple of weeks now. It's not that I don't want to - I'd love to be there, to see, and be part of, a positive result, but I think my airfares etc might be better spent another way. Is there a "fighting fund" or some such that I (and others who may not have contributed financially to the AG and it's activities) might make a contribution?

- Alan.
Click to expand...
astevo thanks for the offer re a fighting fund. We need every available PIF unitholder who wants to replace WC and can make it to the EGM to be there!! Your contribution of being at the meeting will help the fight anyway as we will have an extra hand to raise in the air which is really important! So all, get your yellow proxies off to Computershare prior to the 12th of June and then get yourselves to the EGM in person with the top page of your proxy for identification. We look forward to meeting you all and thank you for your support. Seamisty
 
This is all sweet music to our ears! I really get the feeling us goodies are closing in on the baddies!! I know it's early days but I just feel we've rounded the corner after so much time under their evil power. And I'm imagining how the baddies like reading these posts as their putrid actions are one by one exposed.

So just wanted to say: YOU GUYS ROCK!!!!!!!!

:):):)
 
Be there or be square!
It has been explained to me that it is absolutely vital that everyone who can possibly be in physical attendance at the EGM in Sydney on the 16th , be there.
It is important to get your yellow sheet completed and of to Computershare but that’s not the end of it.
Actual numbers of people there, at the meeting, on the day can make all the difference.
If you want change, more honesty and transparency. If you want to see the PIF start to turn around into a positive direction, then get along to the EGM.
If Wellington should take the chair through a majority by show of hands on the day: they can ,if they then choose, quite simply move to adjourn the meeting.....and that's the end of that! See you later!
So please, be aware of how your presence is needed and will really count on the day.
 
DepressedDad, Bumblebee and others, thanks for your ongoing support, please support us with your presence at the EGM on the 16th June at the SMC Conference & Function Centre. Old salty seadog tells me that if we drive 1400kms in one day, then take it easy and do 1000 kms for the next 2 days we will arrive with plenty of time to rock up for the EGM on the 16th June! HAHA, I am sure Ms Hutson will not be so inconvenienced. Rest assured WC, we are paying our own expenses. If you can't afford to pay the expenses of your own as well as the team of hand picked WC highly so called professionals you have employed to deplete the PIF further, please do not bother to attend the EGM. Instead get your books in order, hopefully they will be under intense scrutiny very soon.

Seamisty
 
seamisty said:
We need every available PIF unitholder who wants to replace WC and can make it to the EGM to be there!!
Click to expand...
OK. I've booked some flights and will be there. Arriving Sydney airport at 10. Hopefully a train (or if necessary a taxi) will get to the EGM before 11.

- Alan.
 
Great news Alan, Look forward to seeing you there :)

To those that are considering booking a flight, please look at booking early flights as registration is from 10am and it’s important you have a chance to register before you enter the meeting room and to be there at the start of the meeting.
 
seamisty said:
LOL, Its emptied now DepressedDad, sorry to those who couldn't leave a message, please try again. Seamisty
Click to expand...

I have today recieved a letter in the post from someone who calls themselves the PIF reaction group making some desparaging remarks re the PIF AG,
There is no address or phone number , I would presume it comes from the same crowd who phoned me to tell me that Ferrier would liquidate our fund and that they do not have a financial services licence,anyone else recieve this correspondence?
 
Hi Erniel, That piece of trash was sent to every PIF unitholder. The motive behind it is quite obvious, to cast doubt and create mistrust and confusion by sending absolute rubbish and untruths. Well they wasted their time and money!! PIF unitholders haven't had much else for well over three and a half years. We don't know the exact origins of the mailout but I am sure the first place to look is back to who has a copy of the PIF contact register supplied by Wellington Capital. PIF AG have a bare bones copy they purchased and we all know that out of the three contenders we are hardly going to discredit ourselves are we? Well that only leaves two others that could expect to gain a few votes from the sordid exercise. At least the PIF AG do not have anything to hide and do not have a problem with their identities being known or 'exposed' as was the intention, unlike others who are so proud of their work, they had to cowardly conceal their indentities and contact details.
Seamisty
 
erniel said:
I have today recieved a letter in the post from someone who calls themselves the PIF reaction group making some desparaging remarks re the PIF AG,
There is no address or phone number , I would presume it comes from the same crowd who phoned me to tell me that Ferrier would liquidate our fund and that they do not have a financial services licence,anyone else recieve this correspondence?
Click to expand...

Yes, most of us got it several days ago, just another attempt to get people on WC's side.... Full of lies as usual. Geee and we are likely to listen when they won't even put their name to the document.
 
Do we expect a decision on the injunction today? Or are we likely to have to wait for the usual slow legal processes?
 
Thanks K. Smith for that CourierMail link.
It really needs some warning to folk opening it.
That full screen shock in Fire Engine Red almost ruined my morning coffee :)
 

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