Hi Jadel,
Let's not beat around the bush, JH should show us details of how the 14c
figure was arrived at??? this appears to be SPIN as we are getting from our poli's???
The matter of having been up against six other firms has been mentioned by JH on several occasions without any proof/back up evidence!! just more spin???? arm's length my foot!!, a very convenient in house arrangement for all concerned....!!!
Well the proof of the pudding.... etc
The lack of sellers on the nsx today shows a confidence in the lady in red.
People are waiting to see if she is as good as her word and those non believers may have to eat their words.
That 5 cent bid should drop to 2 cents on x div day Its all over folks there is only one winner & we all know who that is Cant say i did not warn you all ////////Quite right Ian, no one is going to sell before they get the promised 3c distribution, who knows when & if more distributions will be paid.
How long do you think desperate people will need to wait though, before this "fair price" is going to be offered ??
Thats a good point so what are we all whinging about At 3 cents a year Div we will all have our buck back in 33 years Be only worth about 10 cents then after inflation I am going to bed wake me up in 33 years time please /The reason people joined PIF was to have regular income. Whether one has investments in houses, shares or other means we all need regular income. MFS used to provide this and if Wellington do so from now on then nothing has changed. Unless of course you want to sell, but who wants to sell their house or shares in this environment, admittedly some extreme circumstances change our perspective, yet it appears those people in this fund are not here. Our distributions are coming back, now lets watch and see what happens over the next 6-12months for an indication of the future, after all we've waited 9 months and got nothing and have survived so lets see what the lady in red can deliver.
I’ve posted before that the WC board considered the fund to be liquid but having liquidity problems. I think without the listing the fund would have to be classed as non-liquid which isn’t in the best interest of the RE. However, I think the best interest of unit holders would have been not to list and to class the fund as non-liquid like the City Pacific RE decided to do. This still allows distributions (if possible) and enables the RE to also return capital to all unit holders equally when available. I also read that the City Pacific RE will not take fees while distributions are not possible. Seems 75% of unit holders have dug a nice hole for us.Ian
Jenny Hutson has stated repeatedly that NSX listing was to provide liquidity
which is absolute rubbish
The whole point of the NSX listing is a vehicle for a capital raising down the track
Their is obviously no liquidity on this Index and their never will be at anything resembling a fair price Most people do know even know this index exists
…
And here’s what JH says about the NSX in today’s article.But Ms Hutson said the fund was responding to a changing landscape.
"The redemption model in my opinion is better suited to the past and there's a great many funds that have to confront that reality and we're the first of those funds to move through the change phase.
"I think this is a blueprint that others will follow."
"(The NSX listing) is not the panacea and obviously it's an extraordinary market," she said.
I’ve posted before that the WC board considered the fund to be liquid but having liquidity problems. I think without the listing the fund would have to be classed as non-liquid which isn’t in the best interest of the RE. However, I think the best interest of unit holders would have been not to list and to class the fund as non-liquid like the City Pacific RE decided to do. This still allows distributions (if possible) and enables the RE to also return capital to all unit holders equally when available. I also read that the City Pacific RE will not take fees while distributions are not possible. Seems 75% of unit holders have dug a nice hole for us.
Does anyone else find JH’s statement to the GCBulletin arrogant…
And here’s what JH says about the NSX in today’s article.
I wouldn’t expect to see any bids of 45 cents for over 2000 units. I’m sure it’s a dummy bidder as already mentioned and bidders like this would be hoping to buy in before the 3 cents per unit return and then will be hoping the buy back goes ahead at 45 cents. So nothing for them to loose if the buy back goes ahead, but 3 cents to gain. I don’t think it’s surprising that no one sold on day 1 of trading, it’s not like any of the 10,300 unit holders would have ever traded on the NSX before. Give them time.The last bid for PIN on the NXS is 45 cents, so why are some of us raving on about 5 cents (the first opening bid)?
Secondly, where are the sellers? I thought there were many (before the listing) who would have been interested in selling at 45 cents.
Thirdly, where are the other offers? I thought there would be a lot of people prepared to sell. So why haven't some listed at the price they are seeking, eg. 45 cents, 50 cents, and upwards etc? What's happened to these folk? If you really want to sell, tell us your price! Come on Great Doom. Lead the charge!
Rance
That's right John it was more than 75% of unit holders that I have to thank for listing the fund. I think you missed the point.Dora, let's just get the facts straight! just 5.6% voted against Item 1 with .4% abstentions. 7% and .58% for item 2, and 11.8% (me included) and .25% for item 3.
...
Mr RANCH i would say 95% of PIF unit holders would not have a clue about share trading & probelley never owned a share in there life AS for that 45 cents on the NSX we both know who the bidder is Only wants to buy 2000 units its going to cost about $70 in fees to sell or buy them also //////The last bid for PIN on the NXS is 45 cents, so why are some of us raving on about 5 cents (the first opening bid)?
Secondly, where are the sellers? I thought there were many (before the listing) who would have been interested in selling at 45 cents.
Thirdly, where are the other offers? I thought there would be a lot of people prepared to sell. So why haven't some listed at the price they are seeking, eg. 45 cents, 50 cents, and upwards etc? What's happened to these folk? If you really want to sell, tell us your price! Come on Great Doom. Lead the charge!
Rance
That's right John it was more than 75% of unit holders that I have to thank for listing the fund. I think you missed the point.
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