Wellington Capital PIF/Octaviar (MFS) PIF

seamisty · 8 July 2011

Lastest NSX announcement http://www.nsxa.com.au/ftp/news/021724200.PDF
'The Fund’s registry
services provider Armstrong had sub-contracted the registry role to Link Market Services and engaged two
scrutineers from Bentleys to oversee the meeting process.':::
I wonder how impressed the sub contactors and scrutineers were after finding out about the rent a crowd with back dated proxies that were meant to be registered on the day??

Who on earth would trust Armstrongs voting figures after the performance at the EGM?

NOR · 8 July 2011

seamisty said:
Reasonable there were far more than 150 people at the EGM in Sydney. I think the approx figure of actual unit holders was 150 but there were many more attending who held a proxy for other unitholders who could not attend. By my calculations there was in excess of 300 people in the Pinaroo room and that did not include the rent a crowd from the casting agemcy who were not permitted to attend. There were a few there who I believe had been coerced to attend to vote in favour of WC from a PIF related property in Victoria.

The majority of PIF unitholders actually reside in NSW so it is seen as the logical place to hold the meeting, making it not as far for those to travel from Vic and QLD.

WC spent vast amounts of money supplied to them from associates/directors from MFS/OCV to spread their BS that convinced so many of us to vote for WC originally. I believe that money could well be part of the 'preferential payments' that is being investigated by Bentleys as part of the Public Examinations.

Seamisty

hi all ....is it possiable to have tv hookup meeting NSW QLD VIC& W.AUS DID NOT FORGET YOU SEAMISTY...NOR

seamisty · 8 July 2011

NOR said:
hi all ....is it possiable to have tv hookup meeting NSW QLD VIC& W.AUS DID NOT FORGET YOU SEAMISTY...NOR

Thanks NOR for remembering me!! I don't think we could ask CASCAP to foot the bill for something like that NOR as the cost would be enourmous and the PIFAG has an empty piggy bank, thats why we all pay for ph calls etc ourselves. WC is notorious for spinning any legal action out for as long as possible hoping to wear peoples morale down while emptying their pockets at the same time! Not to mention keeping their legal mates employed.

Perhaps WC (not PIF) might like to foot the expense of a live telecast themselves for future evidence of rugby tackles/manhandling etc? Seamisty

ASICK · 8 July 2011

Duped said:
<<>>> Alternatively, the Court can find guidance in PIF’s very own PIF Constitution (Section 9.4): "The non-receipt of a notice of any general meeting by, or the accidental omission to give notice to, any person entitled to notice does not invalidate any resolution passed at that meeting." <<<>>> These clauses make it very clear to potential investors that resolutions may be passed without them being notified of the meeting. <<<>>>

I don't think 'non-receipt' implies a non-sending, rather I think it means something was sent but, for whatever reason, was not received.

Duped said:
<<<>>> But didn’t WC post a notice on 20 May under PIN on the NSX about the Meeting? <<<>>>

Doesn't such a notice deem that investors have been notified? You raise an interesting point. It's an investor's responsibility to look to the stock for notices, not the manager responsibility to inform each of the members by some other means. Such a notice would certainly do more than fill the gaps, it would overlay the whole membership. The exchange notification is unique to listed funds and would not apply to say, the Equititrust Income Fund, or the Pacific First Mortgage Fund.

Harald · 8 July 2011

In 2008 I wondered why JH wanted to have our fund listed on the NSX.
Now I know. Not only she and her assicoates got the possibility to cheap access to
our shares but much more importantly for JH it was and is the opportunity for her and
her cohorts to announce there lies and make fraudulent statements without being in danger to be punished.
Shoudn't be Castlereagh be able to make the NSX aware that they have to take care to protect the interests of the shareholders in the PIF as well?

JohnH · 8 July 2011

Harald said:
In 2008 I wondered why JH wanted to have our fund listed on the NSX.
Now I know. Not only she and her assicoates got the possibility to cheap access to
our shares but much more importantly for JH it was and is the opportunity for her and
her cohorts to announce there lies and make fraudulent statements without being in danger to be punished.
Shoudn't be Castlereagh be able to make the NSX aware that they have to take care to protect the interests of the shareholders in the PIF as well?

............. another point, Perpetual are still the "trustees" of our fund, is their no way we can involve them in our plight?

BABIHUTAN · 8 July 2011

JohnH said:
Agreed Elizaman, It cost me around $100 in cancellation fees for the last one, and I won't be booking for Thursday until I am sure that the meeting is on. Having said that, the Judge seems to be quite sympathetic to our demise, and hopefully will give an early judgement.

John, I too donated an airline over 2/3rds of the PER/SYD/PER fare as a result of JH's fickle ON-OFF-ON tactics just ahead of the planned 23rd EGM. The backlog caused by disrupted services due to the ash cloud resulted in being offered an $1100 seat one way tt would hv got me there on time. Regretably for cost considerations I missed the meeting and a chance to put faces to Forum Nom-de Plumes.
I still hv some credit left for future travel and would be pleased to add to it to hopefully assist in voting the current RE out. As a poster suggested the meeting should perhaps be postponed until there is an assurance it will not be frustrated on technicalities
CASA can move to shut down and airline over night and the federal govt the live cattle trade - why is that ASIC seemingly has done nothing in three years to protect investors whilst what little is left, is haemoraging rapidly? &

seamisty · 8 July 2011

If WC are so convinced they have the majority vote why are they still calling unitholders today, the third call for some , once from Radar and twice now from WC to ask who they have voted for as it does not appear that they have lodged their proxy with Armstrong? Is Wellington Capital concerned that their register is not in order and it may not pass closer scrutiny so need to get some more legitimate names on board? Who knows what goes on in that office, the only thing PIF unitholders can be guaranteed of is that WC need to be held accountable for all expenses incurred by them and other associates employed on their behalf who are racking up expenses solely for the self preservation of the existing RE. Fortunately I have a fairly comprehensive list of names of those involved which can no doubt be traced back if needed.

Another issue which intrigues me is why did WC have to sub contract Armstrong Registry services at the EGM? Is it because only existing WC staff are processing the proxies/data etc and had to stay in Qld to man the bunker or was it because WC wanted to appear that it was conducted as an arms length transaction thus allowing WC to distance itself from any further accusations of misconduct in relation to unwitting dodgy processing of forms as was the case of JH declaring she knew nothing of the rent a crowd?? Lots of questions of which we can only draw our own conclusions until we see what transpires from the court next week. I strongly suspect the proposed EGM will have to be adjourned yet again which does not overly concern me as it appears that more and more unitholders who had previously decided to stay 'with the devil they know' are now really concerned that DEVIL is exactly that, an atrociously wicked, cruel, and truly evil entity, a far cry from a Responsible Entity.

Seamisty

seamisty · 8 July 2011

BABIHUTAN said:
John, I too donated an airline over 2/3rds of the PER/SYD/PER fare as a result of JH's fickle ON-OFF-ON tactics just ahead of the planned 23rd EGM. The backlog caused by disrupted services due to the ash cloud resulted in being offered an $1100 seat one way tt would hv got me there on time. Regretably for cost considerations I missed the meeting and a chance to put faces to Forum Nom-de Plumes.
I still hv some credit left for future travel and would be pleased to add to it to hopefully assist in voting the current RE out. As a poster suggested the meeting should perhaps be postponed until there is an assurance it will not be frustrated on technicalities
CASA can move to shut down and airline over night and the federal govt the live cattle trade - why is that ASIC seemingly has done nothing in three years to protect investors whilst what little is left, is haemoraging rapidly? &

I have given up on ASIC BABIHUTAN, but that does not mean that one day they will not be held accountable for NOT acting on our behalf when even a court ruled that WC breached the constitution after all the information was supplied to ASIC who declined to intervene on our behalf, which consequently cost us dearly with a dilution and possible extra voting power to WC as a result of the placement of 75.5million extra equally ranking shares in the PIF which should never have happened had ASIC done their job.

As to all expenses relating to your investment in the PIF it is my understanding they should be tax deductable, especially the costs involved in attending a EGM. A pity WC, not the PIF, cannot be held responsible for personal costs incurred by unitholders, especially if it is proved that WC did not act in the best interest of unit holders which was proved financially detrimental to them.(as in the placement issue?) I have said before, possible grounds for another class action in the future.
Seamisty

charles36 · 9 July 2011

seamisty said:
I have given up on ASIC BABIHUTAN, but that does not mean that one day they will not be held accountable for NOT acting on our behalf when even a court ruled that WC breached the constitution after all the information was supplied to ASIC who declined to intervene on our behalf, which consequently cost us dearly with a dilution and possible extra voting power to WC as a result of the placement of 75.5million extra equally ranking shares in the PIF which should never have happened had ASIC done their job.

As to all expenses relating to your investment in the PIF it is my understanding they should be tax deductable, especially the costs involved in attending a EGM. A pity WC, not the PIF, cannot be held responsible for personal costs incurred by unitholders, especially if it is proved that WC did not act in the best interest of unit holders which was proved financially detrimental to them.(as in the placement issue?) I have said before, possible grounds for another class action in the future.
Seamisty

Does anyone ever recall seeing the T.V programme, Stalag 17, there was a very fat untidy army officer who was always saying "I know nuthing" Any thoughts about who could play that part with consummate skill. Having in mind previous military quotes we have all been subjected to in the past.

DepressedDad · 9 July 2011

charles36 said:
Does anyone ever recall seeing the T.V programme, Stalag 17, there was a very fat untidy army officer who was always saying "I know nuthing" Any thoughts about who could play that part with consummate skill. Having in mind previous military quotes we have all been subjected to in the past.

A similar bumbling, highly unmilitary 325-pound charachter in Stalag 13 comes to mind. It was in black & white but I'm sure Sergeant Schultz's overcoat was red. "I see nothing–NOTHING!". Well, it had to be or it was a one way ticket to the Eastern Front. mmmm.

Our movie could be 'Charles' Heroes'. But with Robert Redford. Anyone know where we can hire some cheap actors?

JohnH · 9 July 2011

DepressedDad said:
A similar bumbling, highly unmilitary 325-pound charachter in Stalag 13 comes to mind. It was in black & white but I'm sure Sergeant Schultz's overcoat was red. "I see nothing–NOTHING!". Well, it had to be or it was a one way ticket to the Eastern Front. mmmm.

Our movie could be 'Charles' Heroes'. But with Robert Redford. Anyone know where we can hire some cheap actors?

http://www.youtube.com/watch?v=UgcxGFmYyPs enjoy (there is a remarkable similarity)

zixo · 9 July 2011

Everybodys talking about it... Wellington Capital... Let them do it right for YOU!!!

http://www.freehills.com.au/7314.aspx

Endnotes
At a practical level, one would have thought that these amendments should have been made some years earlier, when unitholders approved listing on the National Stock Exchange.
The objecting unitholders also separately took steps to convene a meeting to remove the RE.

seamisty · 9 July 2011

marcom said:
I read Michael West's article in the Herald with great interest, particularly the statement " ...the forms gave the addresses of the freshly minted PIF investors as 11/6-10 O'Connell Street, Sydney."

So I Googled that address and guess what I found - the hubby's law firm!

MCCULLOUGH ROBERTSON LAWYERS - Level 11/ 6-10 O'Connell St Sydney
[Site popularity rank: #2,500,471] www.infoguideaustralia.com/sydney/.../mccullough-robertson-lawy... - Cached
Address Level 11/ 6-10 O'Connell St. Neighbourhood Sydney. City Sydney. Province NSW. PC 2000. Telephone number Telephone number :: MCCULLOUGH ROBERTSON ...

HMMNN, so we have Mr John Grant who supposedly hired the rent a crowd:
John Grant CA, MBA
Chairman
Independent Non-Executive
Director for Ambri Limited
Appointed: 21 September 2001
Resigned: 15 December 2006

Non-Executive Directors Senior Executives for Ambri Limited
Brett Heading (Chairperson)
(appointed 10 November 2006)
Other related parties
McCullough Robertson - Brett Heading
http://www.aspectfinancial.com.au/asxdata/20071026/pdf/00775058.pdf

The shares to the new investors who all had the same address (being that of McCullough Robertsons Lawyers Sydney office) were 'gifted' them from Craig Wallace who is a director and company secretary for Burnett Valley Olives Pty Ltd, a company that Brett Heading has a 'private' interest in. Not to mention all the prior/existing associations with Jenny Hutson. COSY HUH??? Seamisty

Cookie1 · 9 July 2011

seamisty said:
HMMNN, so we have Mr John Grant who supposedly hired the rent a crowd:
John Grant CA, MBA
Chairman
Independent Non-Executive
Director for Ambri Limited
Appointed: 21 September 2001
Resigned: 15 December 2006

Non-Executive Directors Senior Executives for Ambri Limited
Brett Heading (Chairperson)
(appointed 10 November 2006)
Other related parties
McCullough Robertson - Brett Heading
http://www.aspectfinancial.com.au/asxdata/20071026/pdf/00775058.pdf

The shares to the new investors who all had the same address (being that of McCullough Robertsons Lawyers Sydney office) were 'gifted' them from Craig Wallace who is a director and company secretary for Burnett Valley Olives Pty Ltd, a company that Brett Heading has a 'private' interest in. Not to mention all the prior/existing associations with Jenny Hutson. COSY HUH??? Seamisty

Great work, Seamisty! You're the best at ferreting out information!

"Oh, what a tangled web we weave when we practice to deceive!"

I don't know who said it, but it's certainly true!

zixo · 9 July 2011

seamisty said:
HMMNN, so we have Mr John Grant who supposedly hired the rent a crowd:
John Grant CA, MBA
Chairman
Independent Non-Executive
Director for Ambri Limited
Appointed: 21 September 2001
Resigned: 15 December 2006

Non-Executive Directors Senior Executives for Ambri Limited
Brett Heading (Chairperson)
(appointed 10 November 2006)
Other related parties
McCullough Robertson - Brett Heading
http://www.aspectfinancial.com.au/asxdata/20071026/pdf/00775058.pdf

The shares to the new investors who all had the same address (being that of McCullough Robertsons Lawyers Sydney office) were 'gifted' them from Craig Wallace who is a director and company secretary for Burnett Valley Olives Pty Ltd, a company that Brett Heading has a 'private' interest in. Not to mention all the prior/existing associations with Jenny Hutson. COSY HUH??? Seamisty

And KPMG just happen to be their auditors ....Coincidence?

JohnH · 9 July 2011

Cookie1 said:
Great work, Seamisty! You're the best at ferreting out information!

"Oh, what a tangled web we weave when we practice to deceive!"

I don't know who said it, but it's certainly true!

To Douglas; and with some avail;
'Twas therefore gloomed his rugged brow.
Will Surrey dare to entertain,
'Gainst Marmion, charge disproved and vain?
Small risk of that, I trow.
Yet Clare's sharp questions must I shun;
Must separate Constance from the nun -
Oh, what a tangled web we weave,
When first we practise to deceive!
A Palmer too!””no wonder why
I felt rebuked beneath his eye:
I might have known there was but one
Whose look could quell Lord Marmion."

Sir Walter Scott, Marmion - isn't Google great!!!

seamisty · 9 July 2011

Coincedences are always worth researching Zixo, especially when 'all roads lead to Rome' or maybe in our case 'all roads lead to the QUEEN BEE and her DRONES'!!!!!
Seamisty

selciper · 9 July 2011

There's a lesson coming out of the UK at present - a lesson for would-be business miscreants. Much is about accountability at the very top. No wonder Rupert Murdoch is arriving in London today. No doubt the Guardian's headline about his son's corporate responsibilities aren't of much comfort during this crisis.

http://www.guardian.co.uk/media/2011/jul/08/james-murdoch-criminal-charges-phone-hacking

seamisty · 10 July 2011

seamisty said:
HMMNN, so we have Mr John Grant who supposedly hired the rent a crowd:
John Grant CA, MBA
Chairman
Independent Non-Executive
Director for Ambri Limited
Appointed: 21 September 2001
Resigned: 15 December 2006

Non-Executive Directors Senior Executives for Ambri Limited
Brett Heading (Chairperson)
(appointed 10 November 2006)
Other related parties
McCullough Robertson - Brett Heading
http://www.aspectfinancial.com.au/asxdata/20071026/pdf/00775058.pdf

The shares to the new investors who all had the same address (being that of McCullough Robertsons Lawyers Sydney office) were 'gifted' them from Craig Wallace who is a director and company secretary for Burnett Valley Olives Pty Ltd, a company that Brett Heading has a 'private' interest in. Not to mention all the prior/existing associations with Jenny Hutson. COSY HUH??? Seamisty

A bit more on John Grant::
John Grant
Chairman Bioplatforms Australia

John Grant has over 20 years of experience in venture capital investing in technology based businesses both in Australia and internationally principally through Hambro-Grantham (now Colonial First State Private Equity), a venture capital investment company which he jointly founded with Hambros Plc. of UK in 1984. Following the sale of this business to the Commonwealth Bank of Australia in 2000, John has been primarily engaged as a professional company director.

John’s previous business experience comprised investment banking (including 6 years as Managing Director and CEO of International Pacific Corporation Limited, now Rothschild Australia), management consulting and public accounting.

John’s current board appointments include: John Swire & Sons and Research Australia. Previous board positions include Biota Holdings (Chairman), Perpetual Trustees Australia, New Zealand Venture Investment Fund, Colonial First State Private Capital and Goodman Fielder.

John was also Chairman of the recent Commonwealth of Australia Investment Review of Health and Medical Research. He is a Chartered Accountant with a Master of Business Administration from Columbia University, New York. He is a member of the Union Club, Royal Sydney Golf Club, The Cabbage Tree Club and Royal Prince Edward Yacht Club.

Wellington Capital PIF/Octaviar (MFS) PIF

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