This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

Wellington Capital PIF/Octaviar (MFS) PIF

Jump to new
simgrund said:
And to counter all these grimmologies; next Wednesday Carneys are filing amended Satement of Claim.
I was reassured on the phone today that the case is "very strong". So keep up the spirits!
Regards,
Click to expand...
It appears as though this very fuzzy science(Enneagramm) has got a real hold on the thoughts of many in our group at the moment,quite unnecessarily i feel, from what i can gather this group will really have no bearing upon the outcome of our case against these criminals,we must put our faith with Carneys and trust that we will survive with a few bob in our pockets at the end of all of this.
 
Fair comment flatback but I have been personally misled by many Wellington Capital staff on numerous occassions previously so I am ensuring I am as fully informed as is absolutely possible in that I know exactly just who is in control of our fund, what type of people are involved and their accompanying backgrounds and qualifications. Especially in view of the fact that we have been seriously duped by these people with possible future costly legal ramifications as a result of current management. Also as in the case of previous MFS/OCV staff I am sure there will be thousands of PIF investors who will NEVER EVER touch a business or company that has any future association/connection with people involved in our current situation. From past personal experience I have found that people who have more regard for their own image and ego than they have for transparency and truth are VERY dangerous indeed!

I am sure everyone is fully focussed on the pending legal outcomes, meanwhile researching all things PIF related is making interesting reading and I wish I had been far more aware of WC past/present associations prior to being sucked in by WC.

Seamisty
 
I see that Alfie has picked up another 60,311 units!
......... the sad thing is that that is $60,311 of somebody's savings that (at Best) they might get $3000 or so dollars for!!
 
JohnH said:
I see that Alfie has picked up another 60,311 units!
......... the sad thing is that that is $60,311 of somebody's savings that (at Best) they might get $3000 or so dollars for!!
Click to expand...
I wonder if traders are buying on market/NSX at less than 7 cents then signing them over to ALF PIF hoping to make 15 cents JohnH? If thats the case then they could come a cropper! Seamisty
 
seamisty said:
I wonder if traders are buying on market/NSX at less than 7 cents then signing them over to ALF PIF hoping to make 15 cents JohnH? If thats the case then they could come a cropper! Seamisty
Click to expand...
Also JohnH, does this mean every time ALF PIF aquires a few shares they report it on the NSX? Are they obliged to? We have a current RE that can't even get an Investor update out on time, refuses to answer PIF related issues and appears to be a total flop to a WANNABE RE thats reporting every possible aquisition? There's eventually got to be a good story here I would imagine? The enneagram connection is just the 'sauce on the sausage'.

Seamisty
 

Flatback - Reading about the power of cults or psycho systems over their dedicated disciples is always worrying. The followers' thinking processes and their decision-making are more often than not dictated by the "system" which has moulded them. Contrary opinions to theirs are dismissed as always being wrong. A group might have scuttled a ship themselves but others will be held responsible for the sinking of it.
 

Don't know Seamisty. I suspect it's a PR thing - after all we have members on here with much larger holdings, who have not had to declare themselves as "substantial shareholders".
 
JohnH said:
Don't know Seamisty. I suspect it's a PR thing - after all we have members on here with much larger holdings, who have not had to declare themselves as "substantial shareholders".
Click to expand...
No we can thank WC for splatting that around!! Well I take my disclosure of all things PIF related very seriously, and I consider what interests me is relevant. If my research offends some then I am sorry, I just wish I was more informed when I initally backed Wellington Capital http://www.wellcap.com.au/ and their empty commitments, false tears and possibly (privledge) inside knowledge. Red Jacket = red carpet NOT!! More like RED ALERT!!!

Seamisty
 
I personally think it is of utmost importance and interest that we NOW learn (thanks to the tireless and amazing Seamisty!) that so many of these so called 'professionals' of many professions all are intertwined & involved in this same load of codswallop. (Not-for-profit-yeah right).

If it was a tiddlywinks club then OK, of no relevance or interest, but if we (or better still the courts) eventually uncover there have been concessions, loans, purchases, giveaway sales, jobs with huge salaries all arranged & concocted incestuously with OUR money, then how can that NOT be a HUGE revelation, and more disturbingly a huge concern and something that needs now to be urgently investigated, (with forensic accountants) before all OUR money is further shared between them.
 

There's quite a few of us like that Seamisty......... if you think back to how hard we defended the Lady in red!!!! Our naivity knew no bounds.:headshake
 

Had a relook at the link Seamisty, and it is worth re-capping on the IDR Program and ASIC's definition of a Complaint:-

WHAT IS A COMPLAINT?
The IDR Program adopts ASIC’s definition of a Complaint, which, under RG 165, means an
‘expression of dissatisfaction made to an organisation, related to its products, or the
complaints-handling process itself, where a response or resolution is explicitly or implicitly
expected’. ASIC has taken its definition from Australian Standard AS ISO 20002-2006 –
Consumer Satisfaction – Guidelines for complaints handling in organisations.
Therefore, the Company will consider any expression of dissatisfaction expressed to it as a
Complaint. Examples of Complaints that may be received can include:
(a) an investor not being satisfied with the level of their investment’s performance;
(b) not receiving a distribution cheque on time;
(c) not having the change of contact details recorded correctly;
(d) a person continuing to receive marketing material when a request was made to not receive
such material in the future, or for the details to be removed from any such mailing list;
and
(e) an investor not being satisfied with the way their personal information is being handled
by the Company."

.............. I'ts enough to take one's mind off the Election.......... although, I suppose they are all blo##dy lawyers!!!
 
Thanks for the support DepressedDad, my 'dad' would have been depressed as well if he had of left his lifetime savings in this 'piggy bank' of a fund. Thankfully he bailed out. Unfortunately for WC there are /is approx 10,400 innocent and trusting investors who appear to have been totally left at the mercy of Wellington Capital and their empty promises with reason to investigate and hold them accountable for trusting the trumpted up credentials from someone who could not deliver. If all you previous/current so called professionals/advisors still sleep at night, I envy you. Consience is obviously not high on your agenda.
Seamisty
 
Please can everyone send a complaint to ASIC today and also to any
politician you can.

You can use the reason/s for the complaint.
1. an investor not being satisfied with the level of their investment’s performance;
2. not receiving a distribution cheque on time;

The link to use is:-
http://www.asic.gov.au/asic/asic.nsf...g+us#complaint

Cheers.
Lawry1dog
 
FROM GOLD COAST BULLETIN
G8 buys two more childcare centres

Nick Nichols, business editor | July 28th, 2010

GOLD Coast-based childcare centre operator G8 Education has snared two more childcare centres, this time in Sydney.
The company, headed by former S8 team Chris Scott and Jenny Hutson, has signed a heads of agreement to proceed with the scripand-cash deal valued at up to $2.8 million.
Neither the centres nor its owner have been disclosed and a contract remains subject to due diligence.
The centres, which will boost G8's childcare places by 180 to almost 6400, are forecast to deliver earnings before interest and tax of $701,303 this financial year.
The purchase will be funded through the issue of 2.8 million G8 shares at 60c each, plus a cash payment of up to $1.12 million if performance targets are met by the centres this financial year.
Ms Hutson, G8's chairman, said the deal added to the 'geographic diversity' of the group.
"The acquisition is a further step in G8 Education's well-planned expansion strategy," she said.
The latest deal brings the number of childcare centres acquired by G8 in the past three months to 22.
The most recent purchases were in NSW, South Australia, Queensland and Victoria.
G8's shares last traded at 60.5c.


So much for looking after the PIF.
 
Well Boots

I guess Chris Scott had to receive his payday sometime for delivering the PIF to Jenny Hutson for zilch. This should have been expected, afterall Scott had to overlook 25 or so other expressions of interest in the PIF from Fund Managers far better qualified , than an unknown ,unproven WC to perform that trick .
 
Extracted from the following link http://www.officialwire.com/main.php?action=posted_news&rid=189624
Irw-Press: Alf Group Holdings Ag: Alf Group Holdings Ag – Plan For Early Redemption
Published on July 27, 2010

by Press Office

(IRW-Press and OfficialWire)

VIENNA, AUSTRIA

Re-Tweet this article

Alf Group Holdings Ag – Plan for Early Redemption
Sydney, Australia 27th July 2010 - Alf Group Holdings Ag (AG1) the 100% owner of the ALF Group Pty Ltd and all its subsidiaries, would like to clarify its intentions regarding the current capital raising.
Among other things it is planned to give an interest free loan to ALF Group Pty Ltd of AUD $15 Million, to allow the company to on lend the funds to its 90% subsidiary ALF PIF Finance Limited (ALF PIF). Then upon compulsory acquisition of the takeover target, the Premium Income Fund, ALF PIF will make funds available to accelerate the redemption of ALF PIF preference shares utilized to acquire the Premium Income Fund.
The Premium Income Fund is currently managed by Wellington Capital Limited. ALF PIF refers to the announcement of Wellington Capital Limited on 18th November 2009 in relation to the sale of the property at 60-62 Harbour Street, Wollongong for 38 million AUD. Furthermore, ALF PIF refers to the announcement of Wellington Capital on 18th May 2010, which refers to the completion of the Icon Port project in Port Macquarie.
ALF PIF would utilize the full net proceeds from the above mentioned sale of the Wollongong project plus the full net proceeds from the sale of apartments in the Port Macquarie apartment project to redeem that amount of ALF PIF preference shares. Added to those combined proceeds would be a portion of the interest free loan, which means that redemptions of ALF PIF preference shares in excess of $50 million are expected to be made in 2010.
Mr Michael Pakula, Director of AG1, said, "we are striving to redeem almost 50% of the redeemable ALF PIF preference shares in 2010 that would be issued to unit holders of the Premium Income Fund in the event of a successful takeover being completed.”
About Alf Group Holdings Ag
Alf Group Holdings Ag (AG1) wholly owns ALF Group Pty Ltd and its subsidiaries, which includes one of Australia’s largest litigation funders, and a corporate restructuring services company which also provides funding and debt and equity solutions. It is also an acquirer of distressed assets.
For further information please contact:
Alf Group Holdings Ag
Level 29, Chifley Tower
2 Chifley Square
Sydney, NSW 2000
Australia
Telephone +61-2-9293-2500
Fax +61-2-9293-2930
Website: www.cancanholdings.com
eMail: info@publiceye-consulting.com
It would be quite a coincidence if this mob were also involved in the enema...gram cult..or something similar..Imagine Jim in a Red Jacket!
Blueboy1
 
Section 254K of the corporations act states that redeemable preference shares can only be redeemed out by
- winding up the company
- out of profits
- through a new issue of shares

So if they are planning to return the money from the sale of property this will not be profits but capital so do they plan to break the law to return investors own money.

Not a fan of WC but this seems like out of the frypan into the furnace
 
On the 17th July I sent the same email to Tony Abbott and Julia Gillard requesting some intervention on our current PIF situation. I received an auto response from both acknowledging receival of the email.

On the 21st July I received the following from Tony Abbotts office::

Thank you for your recent email to the Leader of the Opposition, Tony Abbott.

As you may be aware, the Prime Minister has called a federal election.

Unfortunately, from Opposition, we do not have the resources to respond to your email in detail during the campaign period, but your concerns will be brought to Tony’s attention and that of the Coalition Team.

From Julia Gillards office? Nothing!!


On the 19th July I sent an email to Kevin Rudd along the same lines and have received 2 emails from Katrina Hicks, Constituent Officer requesting some additional information and was 'assured that upon receipt of this information I will refer your comments to the relevant staffer for consideration.'

Julia Gillards office staff must be too busy trying to plug leaks!

Seamisty
 

Apart from being alarmed, I would like to know what are immediate options available to PIF to:

a) prevent any "compulsory acquisition"
b) acquire any meaningful protection from any
Statutory Body with a clout

Surely, we can obtain urgent advice now that there are accelerated hostilities afoot. I hope there are actions behind the scenes to fill these voids.
Regards,
 
You must log in or register to reply here.

Similar threads

MA1 - MA Credit Income Trust
Replies
3
Views
476
Dona Ferentes
DGT - DigiCo Infrastructure REIT
Replies
8
Views
988
Dona Ferentes
Coolabah Capital
Replies
5
Views
1K
divs4ever
VBTC - VanEck Bitcoin ETF
2 3
Replies
40
Views
4K
Garpal Gumnut
November 2024 DDD
2 3
Replies
53
Views
5K
ducati916
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...