JAB Charity is a real philanthapist isn't he?That is unbelievable they specifically say they accept Brisconnection shares, they are either mad or believe that no company would ask a Charity to stump up millions of dollars.
That is unbelievable they specifically say they accept Brisconnection shares, they are either mad or believe that no company would ask a Charity to stump up millions of dollars.
See in bold below - your quote... My understanding is that "long term future return" or "great investment" could convey a similar general meaning.
And in the remainder of my post I was asking why QIC would want these when Macquarie and other institutions want no part of this investment (if the media reports are correct).
"AB_Charity;419454 - BrisConnections (BCSCA) units can be transfered to charity. See, for instance, this charity to donate units: http://www.Barrow.ORG.AU/"
Huh?
You serious?
"AB_Charity;419454 - BrisConnections (BCSCA) units can be transfered to charity. See, for instance, this charity to donate units: http://www.Barrow.ORG.AU/"
Huh?
You serious?
2. Market Value of BrisConnections Units after payment of next instalment.
Since the BrisConnections units commenced trading on ASX at $0.001 in October 2008, there have been three broker reports issued, the most recent on 29 January 2009.
The average fully paid target price of the three reports is $1.28 and the average DCF valuation is $1.80.
The truth is that this is a nightmare for Maquarie and they cannot have extensive TV coverage of people losing their houses due to their terribly designed float for which they were paid millions. They will have to cough up the money to avoid this. They have already said they will in effect. The charity is making a bet, if they win they might make a fair bit of cash, if they lose there will be no way for Maquarie to collect.
The whole thing is very amusing as long as you don't own any Brisconnection shares.
Hi David
...Julie Anne Barrow Charitable Trust website. It seems that you are offering the 'investors' a lifeline, but also see this as a long term investment decision for the Trust...
The obligation to pay an instalment is only imposed on those unit holders identified as being registered on 29 April 2009. No obligation arises out of being a unit holder as such. The obligation only arises if the person is a unit holder on a certain day. Being a unit holder does not by itself give rise to any contingent liability to pay any instalment. The liability is not sourced from the fact that some months earlier before the instalment date the person held units. The liability is solely sourced from the person being a unit holder on the instalment day.
I'll start with the last point first.Amongst other investment opportunities, it is the view of The Julie Anne Barrow Charitable Trust that the BrisConnections (BCSCA) Units are attractive assets to acquire by way of share transfer gift.
As we have stated in a previous post: There are complex dynamics at play with BCSCA. The $1 calls can potentially be met by a market re-evaluation of the fundamentals of units (driven by the long-term 45 year toll road concession), the charity's cash position and capacity to raise further donations before the 29 April final call -- and we may also trade out.
You will only have up to Wednesday April 16 to trade out of BCSCA before they cease trading. Assuming the units are in trading halt all day Tuesday, that leaves one day.
http://www.asx.com.au/asxpdf/20090406/pdf/31gy4srth6dbtq.pdf
Last day for accepting transfers [inc off-market] without second call money attached is WED 22 April 2009.
With regard to any market re-evaluation do you think this is going to occur between now and when BCSCB start trading (May 7) ?
From a pure investment perspective it would be better to let someone else pay the $1 instalment and buy BCSCB when they start trading on May 7. You might be able to buy them for $0.25 or perhaps even $0.001.
...On the possibility of the underwriters relieving retail investors of their obligation for the $1 call, the units are then forfeited so what is the point of the exercise.
Thank you David for the reply. One question does comes to mind.That was helpful drsmith. Are there any others points we can clarify?
Thank you David for the reply. One question does comes to mind.
How are you going to vote on the upcoming resolutions ?
..... Which is a long way of saying that we would not like to vote yes where yes means no to the likely avoidance of debt collection of retail investors – however, we do always act in pursuit of our solely charitable purpose.
So, in short if the underwriters let retail unitholders off the hook prior to the vote you will vote against Nicholas Bolton's resolutions and if not you will support them.
Correct ?
There is only a limited number of ways the situation can develop.Well -- we'll all see how the situation develops.
There is of course, as we know, the decision of Justice Dutney to be handed down in the Supreme Court of Queensland on whether Macquarie may successfully injunct the 14 April meeting itself. This slated for 9am before the 10am meeting.
If the underwriters let retail unitholders off the hook prior to the vote will you vote against Nicholas Bolton's resolutions and if not will you support his resolutions ?
Will you be involved in discussions with other related parties prior to the meeting on Tuesday ?+I am flying from Melbourne to Brisbane.....SNIP!.....Sun 12 Apr 2009
If it goes pear shaped for Nick Bolton he'll be able to hand you his off market transfer form in person.I will personally be on the ground at the 10am 14 April 2009 meeting. I can be contacted on my Mbl 0448 778 737
The Julie Anne Barrow Charitable Trust continues to receive donations of BrisConnections units by off-market transfer.
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