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Hey Zixo, be fair to us Banana benders! :dunno:
This decision was made by a FEDERAL COURT JUDGE.
As for the Decision ..... Where else but Queensland?
Its interesting to see that WC are sponsoring the PGA, just as we in the PIF are going in reverse under the stewardship of WC and JH. Even though WC cant face their own unitholders.
Isnt it Nice to see those people from the forest lodge are enjoying themselves on the misery of others?
Hey Zixo, be fair to us Banana benders! :dunno:
This decision was made by a FEDERAL COURT JUDGE.
Hey Zixo, be fair to us Banana benders! :dunno:
This decision was made by a FEDERAL COURT JUDGE.
We all have to abide by the law, and unfortunately, sometimes we do not agree with the interpretation of the law. It has been stated that the PIFAG did not use an up to date register to contact all unit holders. This may be so, but if we take this in the true perspective, in fact, all unit holders were contacted. The PIFAG, immediately on discovering a very small pecentage of unit holders who had recently purchased units or changed their address were contacted. Wellington Capital, who I assume had an up to the minute register contacted ALL unit holders in their quest for proxy support and finally the notorious and anonymous cowards, "the pif reaction group" circulated all unit holders using the latest version of the register. In effect, no unit holder was disadvantaged and had an opportunity to cast a proxy. Be that as it may, the law is the law. We all have to thank WC for their sacrifice in this regard. A media release attributed to WC indicated they would have "romped in" if the meeting was held must have been a great temptation. I personally am at loss to understand why WC's proxies were guarded with such secrecy. It is also known that there were many proxies held by WC that favoured PIFAG but were never handed over to Computershare, the truly independent registry. It is noted that Computershare was the registry of choice by WC at the EGM held on 18 October, 2008.
We are all aware of the hiring by WC of RADAR to do their bidding in attempting to cobble together proxies and as a result there would have been many unit holders contacted who were only provided with information given by WC. A one sided affair. The PIFAG were not able to cope with this marketing campaign to our detriment, I suppose. It is true, the Executive spread themselves too thin and I suspect burn out may have happened to one or two volunteers. To combat the likes of Radar it is desirable that the PIFAG become more proactive than ever if we are going to put WC away for good. Therefore, I am appealing, to all unit holders to give some thought as to how they can help us. There are many enthustiastic unit holders who post on the forum and there are many more unit holders who read the posts. I know they are greatful for the efforts put in by the authors of the posts. I would like any person who think they can help to contact either Seamisty or myself by private mail on this forum in the first instance
The PIFAG have been very active in the past and will continue well into the future. Most notable achievements was establishing the CLASS ACTION, Court Action to prevent WC from placement of units and rights issue. This was a clear example of WC not acting in the interest of unit holders and of course the recent calling of an EGM.
I would like to take this opportunity of publicly thanking Castlereagh Capital for all the support. They have remained steadfast in their resolve to help us in our endeavours to restore some credibility to OUR FUND. CasCap have committed huge resources to help us and it is now up to us all to do our part.
As you are no doubt aware, Judge Dowsett only gave a verbal direction and it will take another three weeks for a written decision to be handed down. I guess we all have to wait and see what his final decision will be. I personally will be very interested in this document.
I thank you for taking the time to read this post/appeal and I am looking forward to hearing from any volunteers. Cheers for now, Charles V/Pres. PIFAG
Charles, Thanks for your feedback. We read the forum every day like so many of us Investors, personally I am with you all the way, what is it that you want the Volunteers to do!!
The judge commented that he would not take it lightly if there is in fact no order.
From the Australian
Note that ASIC never have Commented......for the last 3 years!
http://www.theaustralian.com.au/bus...-paid-protesters/story-fn91wd6x-1226095570433
Wellington Capital paid extras to stage protest
Andrew Main From:The Australian July 16, 2011 12:00AM
AUSTRALIAN shareholder meetings can be noisy affairs, particularly when people have lost money. But Brisbane-based management company Wellington Capital, which since 2008 has been Responsible Entity or trustee for the embattled MFS-founded Premium Income Fund, has been involved in what in local terms is an unprecedented coincidence.
FUND ALLEGEDLY PAID FOR PROTESTERS AT SHAREHOLDERS MEETINGS
Yes, Jadel, Justine Buckley, one of the Wellington Capital hotline recruits told me on the day that Wc instructed staff members to distribute bottled water to the 'protestors'. Perhaps the protesters had been asked to be moved on alright, to the WC headquarters doorstep where they were expected!Great Article
I seem to recall that Jenny H was reported as having actively supported the 2008 shenanigans.
From memory, bottled water was supplied by her staff to these people . Now it is claimed she attempted to move them on . ?
From the Australian
Note that ASIC never have Commented......for the last 3 years!
http://www.theaustralian.com.au/bus...-paid-protesters/story-fn91wd6x-1226095570433
Wellington Capital paid extras to stage protest
Andrew Main From:The Australian July 16, 2011 12:00AM
AUSTRALIAN shareholder meetings can be noisy affairs, particularly when people have lost money. But Brisbane-based management company Wellington Capital, which since 2008 has been Responsible Entity or trustee for the embattled MFS-founded Premium Income Fund, has been involved in what in local terms is an unprecedented coincidence.
FUND ALLEGEDLY PAID FOR PROTESTERS AT SHAREHOLDERS MEETINGS
No mention of what it will cost PIF unitholders to secure the contract to host this prestigious event. No mention as to what it will cost the PIF to bring the golf course up to a world class standard expected to host such an event. $1million, $2million? Will the old fairway mowers need upgrading?Managing Director, Jenny Hutson said
‘To sign a contract to host the Victorian PGA Championship at the Novotel Forest Resort Creswick
represents an exciting opportunity to economically benefit both the Fund and residents of the Forest Resort
and greater community. It is pleasing that an excellent result for the Novotel Forest Resort Creswick has
been achieved with a party who intends to promote the Victorian PGA Championship at a premier regional
venue and add value to a great asset.’
http://www.goldcoast.com.au/article/2008/03/26/9292_gold-coast-business.html
MFS pulls out of $16.5m Golf deal
It is understood MFS, which were due to be the naming rights sponsor until 2010, paid $5 million plus GST each year for the contract
I found the job ad registered with PloyMe, it gives Philip Higson promotions job description as 'leaflet handout and sandwhich board messaging', payment $75.00, address 302 Queen St Brisbane. Surprise Surprise!!(NOT)Isn't that the same address as Wellington Capital?? More untruths/false information being fed to the media by WC? Totally Unacceptable behaviour from a responsible entity:bad:Yes, Jadel, Justine Buckley, one of the Wellington Capital hotline recruits told me on the day that Wc instructed staff members to distribute bottled water to the 'protestors'. Perhaps the protesters had been asked to be moved on alright, to the WC headquarters doorstep where they were expected!
The following post was made on Aussie Stock Forums on the 22nd Oct by Burnt::
22nd-October-2008 12:25 AM
Burnt
Re: Octaviar MFS Premium Income Fund PIF
Interesting job ad placed by Philip Higson on 15th Sept :-
http://www.ployme.com.au/SearchEmplo...=50&nod=1&pg=3 https://www.aussiestockforums.com/forums/printthread.php?t=10937&pp=20&page=152
I can't actually find the job ad but I can tell you that one of the 3 founders of PloyMe was Rob Wibaux. The PIF external compliance officer is Philip Wibaux. Another company listed on Ployme is Kooralbyn Asset Management, owned by Philip Wibaux and David Burke. David Burke is the Australian founder of the Enneagram and Philip Wibaux is an enneagram teacher.
Great to see some journalists finally linking all these connections and reporting them in the media.
Seamisty
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