Wellington Capital PIF/Octaviar (MFS) PIF

Re: Octaviar MFS Premium Income Fund PIF

Duped said:

NSX update. Offer to sell recorded: 100,000 at 13c. Ouch!!!!!!

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No takers yet. And that's for securities that WC have promised 3c by Christmas and buyback at 45c in 09.

So you can buy 10,000 PIF units at 13c and get 48c back for them by end 09 and there's no takers. WOW. Seems no one trusts WC.

(Quoting myself??? What's become of me.)

Re: Octaviar MFS Premium Income Fund PIF

3 pm: 434,822 units sold for 12c

Gone below the threatened liquidation payout.

Interesting how JH said at the NSX conference that if the Fund had of been wound up, investors would have got one third of their investment back.

Re: Octaviar MFS Premium Income Fund PIF

Media update NSX 28th Nov. $8.1 million debt still outstanding and has been extended to 19th Dec. A detailed fund update will be released on 10 th Dec. Please refer to NSX for complete update. Seamisty

Re: Octaviar MFS Premium Income Fund PIF

Burnt said:

434,822 units sold for 12c

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Don't forget. On Monday if thou art a pensioner get thee down to Centrelink and get thy Wellington PIF holding value adjusted to gain a few more of Mr Swan's shekels.

I'd like to know who bought those shares

Re: Octaviar MFS Premium Income Fund PIF

demodocus said:

Don't forget. On Monday if thou art a pensioner get thee down to Centrelink and get thy Wellington PIF holding value adjusted to gain a few more of Mr Swan's shekels.

I'd like to know who bought those shares

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Likewise Demodocus

I also feel truely sorry for the poor desperate souls that were forced to sell them

Wonder if JH has any problems sleeping at night ?

Re: Octaviar MFS Premium Income Fund PIF

In these sad times its important to laugh and I think is too funny not to share.


How to Shower like a Women

Take off clothes and place them sectioned in laundry basket according to lights and darks.

Walk to bathroom wearing long dressing gown.

If you see husband along the way, cover up any exposed areas.

Look at your womanly physique in the mirror - make mental note to do more sit-ups/leg-lifts etc.

Get in the shower.

Use face cloth, arm cloth, leg cloth, long loofah, wide loofah and pumice stone.

Wash your hair once with cucumber and sage shampoo with 43 added vitamins.

Wash your hair again to make sure it's clean.

Condition your hair with grapefruit mint conditioner enhanced.

Wash your face with crushed apricot facial scrub for 10 minutes until red.

Wash entire rest of body with ginger nut and jaffa cake body wash.

Rinse conditioner off hair.

Shave armpits and legs.

Turn off shower.

Squeegee off all wet surfaces in shower.

Spray mould spots with tile cleaner.

Get out of shower.

Dry with towel the size of a small country.

Wrap hair in super absorbent towel.

Return to bedroom wearing long dressing gown and towel on head.

If you see husband along the way, cover up any exposed areas.




How to Shower like a Man

Take off clothes while sitting on the edge of the bed and leave them in a pile.

Walk naked to the bathroom.

If you see wife along the way, shake willy at her making the 'woo-woo' sound.

Look at your manly physique in the mirror.

Admire the size of your willy and scratch your bum.

Get in the shower.

Wash your face.

Wash your armpits.

Blow your nose in your hands and let the water rinse them off.

Fart and laugh at how loud it sounds in the shower.

Spend majority of time washing privates and surrounding area.

Wash your bum, leaving those coarse bum hairs stuck on the soap.

Wash your hair.

make a shampoo Mowhawk...

Wee.

Rinse off and get out of shower.

Partially dry off.

Fail to notice water on the floor because curtain was hanging out of the bath the whole time.

Admire willy size in the mirror again.

Leave shower curtain open, wet mat on floor, light and fan on..

Return to bedroom with towel around waist.

If you pass wife, pull off towel, shake willy at her and make the 'woo-woo' sound again.

Throw wet towel on bed.

I KNOW YOU ARE LAUGHING CAUSE MOST OF IT'S TRUE!!!!!!!!!

Re: Octaviar MFS Premium Income Fund PIF

LOL at Ian and that is all very well for the guys that don't have a bad memory like old grandpa!!!:::::There was a family gathering, with all generations around the table. Mischievous teenagers put a Viagra tablet into Grandpa's drink, and after a while, Grandpa excused himself because he had to go to the bathroom.

When he returned, however, his trousers were wet all over. 'What happened, Grandpa?' he is asked by his concerned children.

'Well,' he answered, 'I don't really know. I had to go to the bathroom. So I took it out and started to pee, but then I saw that it wasn't mine, so I put it back!'

Re: Octaviar MFS Premium Income Fund PIF

I was at my bank today. There was a short line. Just one lady in front of me . An Asian lady who was trying to exchange yen for dollars. It was obvious she was a little irritated . . . She asked the teller, "Why it change? Yesterday, I get two hunat dolla fo yen. Today I only get hunat eighty? Why it change?" The teller shrugged his shoulders and said, "Fluctuations." The Asian lady says, "Fluc you white people, too!"

Re: Octaviar MFS Premium Income Fund PIF

ian1328 said:

I was at my bank today. There was a short line. Just one lady in front of me . An Asian lady who was trying to exchange yen for dollars. It was obvious she was a little irritated . . . She asked the teller, "Why it change? Yesterday, I get two hunat dolla fo yen. Today I only get hunat eighty? Why it change?" The teller shrugged his shoulders and said, "Fluctuations." The Asian lady says, "Fluc you white people, too!"

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Lol Ian, but we will have to get back on topic or risk a drubbing. It is a major concern to me and others that the outstanding bank loan of $9.5 mill has only been reduced by $1.4mill in the past month and the loan has now been extended. This is a very real indication of how much income the PIF is not receiving and deserves a far more detailed update to unit holders from WC as to the current financial position of the fund and what we can expect in regard to future distributions and asset values in the interim. The majority of us recognise the fact that we are experiencing extreme financial conditions that were not factored into WC's predictions and forecasts in regard to anticipated future returns and expectations originally of the PIF. However, the reality is that we need answers and expect that WC has a plan in place to deal with this current crisis and as unit holders, we deserve to be fully informed of the intentions of the RE as to how it intends to deal with this situation. Seamisty

Re: Octaviar MFS Premium Income Fund PIF

Jadel said:

Likewise Demodocus

I also feel truely sorry for the poor desperate souls that were forced to sell them

Wonder if JH has any problems sleeping at night ?

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The last trades that totalled approx 494,00 were indicative to me Jadel of coming from one holder. I could be wrong but it looked to me that someone just wanted out, hence the last four being taken out in one hit of 12 cents. If this is the case, I don't think this can be interpreted as 'panic' selling on a large scale. The buyer is probablly an astute investor that can recognise the long term potential of buying into a fund that has potential upside long term, and no, it was not me. Seamisty

Re: Octaviar MFS Premium Income Fund PIF

seamisty said:

The last trades that totalled approx 494,00 were indicative to me Jadel of coming from one holder. I could be wrong but it looked to me that someone just wanted out, hence the last four being taken out in one hit of 12 cents. If this is the case, I don't think this can be interpreted as 'panic' selling on a large scale. The buyer is probablly an astute investor that can recognise the long term potential of buying into a fund that has potential upside long term, and no, it was not me. Seamisty

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You are right Seamisty. Less than 0.1% of units are being listed by their holders.

Having said that, it is still so very sad that even this small number are forced to take what they can from the "vultures" who are hovering.

Re: Octaviar MFS Premium Income Fund PIF

seamisty said:

The last trades that totalled approx 494,00 were indicative to me Jadel of coming from one holder. I could be wrong but it looked to me that someone just wanted out, hence the last four being taken out in one hit of 12 cents. If this is the case, I don't think this can be interpreted as 'panic' selling on a large scale. The buyer is probablly an astute investor that can recognise the long term potential of buying into a fund that has potential upside long term, and no, it was not me. Seamisty

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These are big assumptions to be making. I would certainly hope that this sale did not go through from one unit holder - that is one hell of a loss to take for one individual. They would have had to have been extremely desperate for access to funds - this is extremely sad and a situation that could have been avoided if this Fund had not been listed. No, it is not 'panic' selling if this is the case - it is an extremely sad situation of desperate need.

I seriously doubt it was one unit holder selling.

'Astute' investor - yes someone counting on the 3c distribution taking place - 25% on investment. The sellers obviously have no faith - the buyer does.
Anyone got any info on the cash payment expected ???

WC forecast was $1 back in 3-5 years - any info on that ???
Investors may have been able to wait the 3-5 years if the interim cash payments were to be made - in absence of these payments what alternative do they have ? Sell to the sharks waiting for the desperate to give in.

Re: Octaviar MFS Premium Income Fund PIF

Yes John,

The Vultures are hovering and have just had a tremendous feast . It is really irrelevant whether or not it is on one carcass or many.

What I, (and probably Demodocus are both wondering) is ,if these particular birds are related in any way shape or form to WC.

Re: Octaviar MFS Premium Income Fund PIF

Jadel said:

Yes John,

The Vultures are hovering and have just had a tremendous feast . It is really irrelevant whether or not it is on one carcass or many.

What I, (and probably Demodocus are both wondering) is ,if these particular birds are related in any way shape or form to WC.

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Jadel do you also tag family members and friends 'vultures' when they go bargain hunting during retail sales where items are discounted to generate cash flow or to divest themselves of stock they can't afford to keep in their stores when times are tough? No one is disputing the fact that it is heartbreaking for investors who are forced to quit their units because of personal circumstances at these prices. Should people be called 'vultures' or greedy when they invest in products that offer a higher rate of return and risk than more conservative secure products offered by banks? Should every person that buys shares in companies that are trading well below current market value attributed to the current global financial be called 'vultures', or will we just save that name for people investing in the PIF? Seamisty

Re: Octaviar MFS Premium Income Fund PIF

It seems ages since we had expected the bank debt to be paid off. It just never seems to happen, so WC can't be critical of us "prisoners" being increasingly alarmed
by the fragility of their promises. What more bad news are we to expect? It's up to JH and the Board to get us off this treadmill and achieve the (anticipated) 45 cents value. The 45c was in writing and often spoken about by WC. The quote obviously influenced the vote outcome. Surely time will soon run out for a 24 December distribution. If WC think that they are misunderstood by PIF investors, it's due to WC's failings in communicating their strategies to us.

Re: Octaviar MFS Premium Income Fund PIF

seamisty said:

Jadel do you also tag family members and friends 'vultures' when they go bargain hunting during retail sales where items are discounted to generate cash flow or to divest themselves of stock they can't afford to keep in their stores when times are tough? No one is disputing the fact that it is heartbreaking for investors who are forced to quit their units because of personal circumstances at these prices. Should people be called 'vultures' or greedy when they invest in products that offer a higher rate of return and risk than more conservative secure products offered by banks? Should every person that buys shares in companies that are trading well below current market value attributed to the current global financial be called 'vultures', or will we just save that name for people investing in the PIF? Seamisty

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Whoops - looks like I have had my wrist slapped! :whip I did put it in inverted commas - maybe "opportunists" would be more euphemistic.

Re: Octaviar MFS Premium Income Fund PIF

JohnH said:

Whoops - looks like I have had my wrist slapped! :whip I did put it in inverted commas - maybe "opportunists" would be more euphemistic.

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JohnH, can I have a loan of that whip please? I hope the PIF will have the funds to go ahead with the buyback as was promised as I know many investors are sweating on that. Does anyone know which specific projects linked to Raptis owe money to the PIF. I think there are 5-6 companies involved in Raptis developments that are now in the hands of receivers. Not looking good. Seamisty

Re: Octaviar MFS Premium Income Fund PIF

You know folks an asset is only worth what a buyer is willing to pay for it In the case of our fund PLF the average of all bids is 8,75 Cents so the 12 cents of the last sale the sellers did OK looking at it in that light Remember always buyers control the sales not sellers WE who are not selling are all stuck with shares that are only worth about 10 cents each The sellers that got out at 12 cents each can now they can invest that money somewhere else And watch it really grow over the next 5 years So really they did maybe the smart thing I would like to add in closing i totally blame the NSX exchange for the lack of buyers And the low bids But there is nothing we can do about that now / Dane ///

Re: Octaviar MFS Premium Income Fund PIF

Well, Great Dame, there you go! It was me who sold all my shares on Friday for 12c. I sold 62000 a couple of weeks ago at 20c...then no more life, so went the whole hog.

Macquarie Bank bought 50000 and a mob to do with cameras bought all the rest. The camera mob are responsible for all the present bids on the NSX. My stockbroker approached them PRIOR to my sales @ 20c, and they offered 12c for the lot, so I whacked them on the market, and then they bought for 20c. But when there was no more movement, I decided to get my money moving.

I am one to trust actions more than words, and with Blind Freddie being able to see that things were only getting worse for a while, I begin to see that JH is either stupid (thinking she could get 3c to us by Xmas) or hoping!!!

I decided to try and remove my "hope"...which I have long regarded as my eternal optimism that has served me well in the past (positive thinking and all that) and look hard at the long term view minus HOPE.....figures and logic added to the realisitic possibility of say a 3 year plateau and then maybe a gradual return.

For me, it wasn't a pretty site!!! As many of you know we were btwn houses when our $$$ froze 2 days before redemption. We had already signed a contract to buy an house, thus we are now sporting a whacking great mortgage, and I (having retired comfortably) am back at work full time ++.
My husband (70 yrs old) is trying to get a pension....and has been trying for 2 months. Both our allocated pensions have gone into the mortgage....he can't get another. We also have over $450K with City Pac...and $200K with WPS who have also frozen!! Thus we are severely strapped, and maybe letting these shares go will give John his pension; after all the $$ with WC are pretty dead for the next 5+ years aren't they?

I want to thank all of you who have been an enormous support to me over this year. Its been a terrible nightmare, and I feel a lot less stressed now, and that means a lot to me. I don't want to "wonder if" any more....I want control!

Seamisty, Breaker, Dora, Rocky (are you there?) and (even) Great Dame....and many more, you have all been an inspiration. Thanks so much....and all the very best of luck with the WCPIF.

Re: Octaviar MFS Premium Income Fund PIF

Mary

I am truely saddened

Please accept my good wishes for the future

Warm Regards Chris