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Wellington Capital PIF/Octaviar (MFS) PIF

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Re: Octaviar MFS Premium Income Fund PIF

Quote John.H ::Hi Seamisty,
Yes, I think it’s time to test the strength of numbers of people who not only contribute, but read this forum.
I suggest that we all add our names to a list together with our number of units. This will give us an indication of our strength, (and the number of votes we represent.) Anonimity will be maintained, as we all publish under our nom-de-plumes.
Click on the “quote” button and then add in your forum name, and your holding.
As we know from past experience, the administrators of this site are vigilant if people log on under different names....... so let’s keep it honest, and accurate!
Here is mine for starters:-
Forum Name
John H. ------- 100,000


Seamisty, 2.18million units
 
Re: Octaviar MFS Premium Income Fund PIF

Quote John.H ::Hi Seamisty,
Yes, I think it’s time to test the strength of numbers of people who not only contribute, but read this forum.
I suggest that we all add our names to a list together with our number of units. This will give us an indication of our strength, (and the number of votes we represent.) Anonimity will be maintained, as we all publish under our nom-de-plumes.
Click on the “quote” button and then add in your forum name, and your holding.
As we know from past experience, the administrators of this site are vigilant if people log on under different names....... so let’s keep it honest, and accurate!
Here is mine for starters:-
Forum Name
John H. ------- 100,000
Pixierich------- 222,000
KSmith ------- 55,000
Cookie1 ------- 245,000
Marcom ------- 615,000
Seamisty ---- 2,180,000
 
Re: Octaviar MFS Premium Income Fund PIF

Selciper--------300,000
 
Re: Octaviar MFS Premium Income Fund PIF

Quote John.H ::Hi Seamisty,
Yes, I think it’s time to test the strength of numbers of people who not only contribute, but read this forum.
I suggest that we all add our names to a list together with our number of units. This will give us an indication of our strength, (and the number of votes we represent.) Anonimity will be maintained, as we all publish under our nom-de-plumes.
Click on the “quote” button and then add in your forum name, and your holding.
As we know from past experience, the administrators of this site are vigilant if people log on under different names....... so let’s keep it honest, and accurate!
Here is mine for starters:-
Forum Name
John H. ------- 100,000
Pixierich------- 222,000
KSmith ------- 55,000
Cookie1 ------- 245,000
Marcom ------- 615,000
Seamisty ---- 2,180,000
Selciper ------ 300,000
 
Re: Octaviar MFS Premium Income Fund PIF

Dexter ---------880,000
 
Re: Octaviar MFS Premium Income Fund PIF

Quote John.H ::Hi Seamisty,
Yes, I think it’s time to test the strength of numbers of people who not only contribute, but read this forum.
I suggest that we all add our names to a list together with our number of units. This will give us an indication of our strength, (and the number of votes we represent.) Anonimity will be maintained, as we all publish under our nom-de-plumes.
Click on the “quote” button and then add in your forum name, and your holding.
As we know from past experience, the administrators of this site are vigilant if people log on under different names....... so let’s keep it honest, and accurate!
Here is mine for starters:-
Forum Name
John H. ------- 100,000
Pixierich------- 222,000
KSmith -------- 55,000
Cookie1 ------- 245,000
Marcom ------- 615,000
Seamisty ---- 2,180,000
Selciper ------ 300,000
Dexter ------- 800,000
 
Re: Octaviar MFS Premium Income Fund PIF

Quote John.H ::Hi Seamisty,
Yes, I think it’s time to test the strength of numbers of people who not only contribute, but read this forum.
I suggest that we all add our names to a list together with our number of units. This will give us an indication of our strength, (and the number of votes we represent.) Anonimity will be maintained, as we all publish under our nom-de-plumes.
Click on the “quote” button and then add in your forum name, and your holding.
As we know from past experience, the administrators of this site are vigilant if people log on under different names....... so let’s keep it honest, and accurate!
Here is mine for starters:-
Forum Name
John H. ------- 100,000
Pixierich------- 222,000
KSmith -------- 55,000
Cookie1 ------- 245,000
Marcom ------- 615,000
Seamisty ---- 2,180,000
Selciper ------ 300,000
Dexter ------- 880,000

Sorry Dexter I under quoted you. JH
 
Re: Octaviar MFS Premium Income Fund PIF

To Trusting ----- 150,000
 
Re: Octaviar MFS Premium Income Fund PIF


wally3218 ........90,000
 
Re: Octaviar MFS Premium Income Fund PIF

Re: Octaviar MFS Premium Income Fund PIF

--------------------------------------------------------------------------------


Quote:
Originally Posted by JohnH
Quote John.H ::Hi Seamisty,
Yes, I think it’s time to test the strength of numbers of people who not only contribute, but read this forum.
I suggest that we all add our names to a list together with our number of units. This will give us an indication of our strength, (and the number of votes we represent.) Anonimity will be maintained, as we all publish under our nom-de-plumes.
Click on the “quote” button and then add in your forum name, and your holding.
As we know from past experience, the administrators of this site are vigilant if people log on under different names....... so let’s keep it honest, and accurate!
Here is mine for starters:-
Forum Name
John H. ------- 100,000
Pixierich------- 222,000
KSmith -------- 55,000
Cookie1 ------- 245,000
Marcom ------- 615,000
Seamisty ---- 2,180,000
Selciper ------ 300,000
Dexter ------- 880,000
To Trusting ---150,000
Wally3218----- 90,000 Total so far 4,837,000
 
Re: Octaviar MFS Premium Income Fund PIF

al
To Trusting said:
To Trusting ----- 150,000
Click to expand...
Wow, thanks John.H. The early response is 'encouraging'!!! I hope more unit holders will participate as from my own personal contact with PIF investors I would have to dispute the response Blueboy1 got from WC, but, I have been wrong before!!

From my own personal perspective, (at the risk of being too WC negative and having no impact) it was not the lack of distribution, buyback of units, taking the fund forward, value adding, pursuing those responsible to the end of the world etc. etc. that started to ring the alarm bells as to what we voted for and actually got, it was the bloody arrogance of being ignored by JH who personally gave me her business card and 'encouraged' me to contact her with concerns of PIF related issues.!!

I will post some early PIF related correspondence to the WC PIF Hotline ::ear Caroline, I rang WC this afternoon and asked Justine how come on the 24th Dec the following was released to the NSX::
Update: Debt Facility
Wellington Capital Limited as responsible entity for the Premium Income Fund advises that its debt
arrangements have been extended for 3 months from 24 December 2008 to 24 March 2009.
Wellington advises that a further project has settled and that the current debt is $5 million.
Further conditional contractual arrangements are in place. Until the conditions are satisfied and settlement
finalised, the timing of discharge of the remaining $5 million in debt remains uncertain as does the proposed
cash distribution to Unitholders.::::::
In the financial report released today, on page 14:::
The interest bearing loan is secured by a fixed and floating charge over all of the assets of the Fund. The ¡nterest rate is
25%pa. The loan is repayable by 31 March 2009 and early repayment is allowable should circumstances permit.:::::
The loan is for $5.705mill, where did the other $705,000 come from?
On page 26 of the PIF annual report, 30 June 2008, it states the loan rate as 20% due to mature 30th Nov 2008. I asked when did the interest rate change from 20% to 25%?
I also pointed out the error on page 11 re the wrong date with distributions and asked how PWC, Jenny Hutson and Robert Pitt had all signed off on the document and not picked up on the mistake?
Justine was going to get back to me but obviously was too busy or hadn't been able to speak with you so will send this and hopefully you may be able to clarify the debt/loan situation for me. ::
Followed by::
From: Caroline Snow (csnow@wellcap.com.au)
Sent: Thursday, 12 March 2009 5:45:12 A

Dear ,

I will discuss your queries with the finance team and get back to you by close of business today.

Kind regards

Caroline Snow
Associate Director

next email:::
Monday, 16 March 2009 5:35:39 AM
To: jhutson@wellcap.com.au; jhutson@newpiff.com.au

Dear Jenny,
Rather than re writing a series of already sent questions to Caroline Snow who obviously has been too busy to get back to me could you please tell me if we can expect some answers to our concerns in relation to the PIF? It is extremely time consuming representing so many investors in the PIF which is done by a core group of AG reps and it is frustrating not to get adequate replies. Many of these investors will not use the hotline because not only do they not get to speak with anyone, their messages remain unanswered which creates additional angst and more noticeably of late, anger. The question of the cost to investors of running the hotline is also becoming an issue. Inquires which are regarded as important relevant PIF Fund information are often being referred onto senior management by the hotline attendants and are not being responded to. I am told many e mails to investor relations also remain unanswered. While we appreciate the efforts of those who do answer the hotline to the best of their ability, we are concerned the cost may outweigh the usefulness of the service. Perhaps it is time to reveal the cost of the hotline service along with the NSX listing expenses and give unitholders the option to vote yes or no for the continuation of these services in view of the fact that unnecessary Fund expenses at this point in time should be addressed.
For future reference, there are also unitholders who would like the opportunity to partake in the high rate of interest the PIF RE is prepared to pay for money loaned to the Fund secured by all the Fund assets by being approached before other 'non bank lenders' . Also, Peter Grenadier asked me to attach the following from him::::

'Please remind Jenny that only a few days ago Caroline Snow promised to remind Jenny about my earlier request for the PIF AG's request to "approve the insertion in the next Wellington PIF Update, mailed to all PIF investors, of the PIF contact email address breaker7@optusnet.com.au and my name Peter Grenadier [Representative PIF Action Group] as the contact point for any investors wishing to join us in lobbying the government to achieve the above goal of becoming ADI, legally, accredited." I sent this email to Jenny Hutson via Caroline 23 Feb. - as yet I have received no reply. I understand that the PIF is listed on the NSX - this would NOT be insurmountable if the Federal Government were to come to our diversified / property sector with ADI deposit guarantee aid [of any kind]. Even so, if listing were a problem and any substantial aid was offered, investors would expect immediate delisting as a matter of course.' :::

I refer to your telephone conversation with the Wellington Hotline earlier today.

I confirm that the answer to your question is yes - the $5.7 million debt facility balance set out in the HY08 report includes interest on the debt facility until the end of March.



Caroline Snow
Associate Director
Dear

I refer to your telephone conversation with the Wellington Hotline earlier today.

I confirm that the answer to your question is yes - the $5.7 million debt facility balance set out in the HY08 report includes interest on the debt facility until the end of March.

Kind regards

Caroline Snow
Associate Director


I can go on and on, it is all documented and still WC have the audacity to shove their head up we all know where and continue to think they are still well supported and popular among PIF investors and slam those who know better and dare voice their well documented opinions!!??!! Get over it and face reallity!! You did not deliver as promised Jenny and to add insult to injury, the PIF is a 'basket case', quite the contrary to what we expected. I hope the BS rhetorical served to us to support JH is held accountable by WC because not only have we been robbed by the previous RE, our current RE has delivered ZIP!!! Suck it up and accept accountability. At least I have the decency to acknowledge I made a mistake in giving you my support initially publically and am prepared to eat humble pie and try and make a difference. My popularity stakes will not be held accountable because I am not benefitting financially ( quite the contrary), WC is. Seamisty
 
Re: Octaviar MFS Premium Income Fund PIF

Thankyou all for your support, WC would like nothing better to prove this thread and its support to those dedicated to providing correct information to unitholders as insignificant and I would like to prove them wrong.

Another of Teddys quotes that I consider meaningfull::

I have a perfect horror of words that are not backed up by deeds."
Oyster Bay, NY, July 7, 1915

Seamisty
 
Re: Octaviar MFS Premium Income Fund PIF

atlas1950 has 323,000 units
--------------------------------------------------------------------------------


Quote:
Originally Posted by JohnH
Quote John.H ::Hi Seamisty,
Yes, I think it’s time to test the strength of numbers of people who not only contribute, but read this forum.
I suggest that we all add our names to a list together with our number of units. This will give us an indication of our strength, (and the number of votes we represent.) Anonimity will be maintained, as we all publish under our nom-de-plumes.
Click on the “quote” button and then add in your forum name, and your holding.
As we know from past experience, the administrators of this site are vigilant if people log on under different names....... so let’s keep it honest, and accurate!
Here is mine for starters:-
Forum Name
John H. ------- 100,000
Pixierich------- 222,000
KSmith -------- 55,000
Cookie1 ------- 245,000
Marcom ------- 615,000
Seamisty ---- 2,180,000
Selciper ------ 300,000
Dexter ------- 880,000
To Trusting ---150,000
Wally3218----- 90,000 Total so far 4,837,000[/QUOTE]
 
Re: Octaviar MFS Premium Income Fund PIF

You can add my 400,000 units. By the way I would like those interested to click onto http://www.youtube.com/watchpv=hb55qEY8RAE. This video was presented to a lavish Christmas party at the Sebel Hotel, The Rocks, Sydney on the 27 November, 2007. You will note the date for the very next day the 200 million or so borrowed from RBOS was siphoned off to related party entities. HOW HONEST IS THAT The party was attended by selected investors and no doubt potential investors. I wonder how many people got conned that day. No, I was not invited but sure as hell you can bet we all contributed towards the cost. Keep up the good work everyone, I am sure as hell doing my best.
 
Re: Octaviar MFS Premium Income Fund PIF

Bessie 223 ----- 140,000
 
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