How can you be so impatient Charles. JH is acting like the Coles advertising. They bring the price down down down. So JH regards it as good to bring our values downWe should not be mistaken or mislead. The PIF is the mortgagee in possession of most properties, proper details very hard to find in the "mish mash" of reports emanating from WC. Therefore, the PIF is only entitled to receive from any sale of mortgaged properties what is actually owed on the mortgage, plus interests and costs. Any proposed development and expenditure to improve sale prospects will cost the fund interest on borrowed funds and could result in an actual loss. The RE has a responsibility to maintain our asset and act in the interest of all unit holders and where the RE interest conflicts with unit holders interests the unit holders interest takes precedence. Spending money on promoting a Golf Tournament is not an allowable expenditure that I can find, I could be wrong. When you are only the mortgagee in possession why hasn't action been taken to either sell the property or encourage mortgagee to re-finance if possible and pay out the mortgage. Surely three years is enough time, how much more time do WC need to make a decision. We are all aware of MFS Golf Promotion fiascos.
How can you be so impatient Charles. JH is acting like the Coles advertising. They bring the price down down down. So JH regards it as good to bring our values down
down down.
To avoid a further downsizing I'm willing to be another investor who joins the hopefully big group of volunteers which will kick out JH.
I hate telemarketing (that's why I used to employ others to do it for me) but count me in Charles/Seamisty.............. John H.Harald, I would have more confidence if I had my units under the control of Coles, at least we would have transparency, a business plan together with directions as to how our objectives will be achieved. But alas, AT THE MOMENT we are stuck with an RE who wants to further dilute our assets to raise capital to allegedly carry out construction work on projects that will not be ready to proceed for many, many months. If then.
I thank you for the offer to volunteer and I would like to take this opportunity of thanking many unit holders who have offered their help. Seamisty has kindly undertaken to keep a list of volunteers and we will be in touch in due course.
You know I just have a suspicion as to why Wellington refused to release their proxy forms.
It only dawned on me after seeing comments that Armstrong is the registry and will not release a list of investors to the PIFAG for the purpose of the meeting.
The proxy forms contain the names and addresses on of all unit holders.
It may be that Wellington was trying to keep them secret in order to prevent the list of investors getting released.
Not my favourite pastime either JohnH, but after the first few hundred calls it got easier LOL!!!I actually spoke with some really lovely PIf investors who were genuinely appreciative of my efforts to tell them the truth re the deceptive information and behaviour being delivered by WC staff and others related/associated with WC, backed up with relevant documentation where needed. I was always willing to leave my number with anyone who wanted it, unlike other anonymous cowards working on behalf of WC who don't appear to be able to differentiate between truth and their own greed inspired hallucinations!!!I hate telemarketing (that's why I used to employ others to do it for me) but count me in Charles/Seamisty.............. John H.
Not my favourite pastime either JohnH, but after the first few hundred calls it got easier LOL!!!I actually spoke with some really lovely PIf investors who were genuinely appreciative of my efforts to tell them the truth re the deceptive information and behaviour being delivered by WC staff and others related/associated with WC, backed up with relevant documentation where needed. I was always willing to leave my number with anyone who wanted it, unlike other anonymous cowards working on behalf of WC who don't appear to be able to differentiate between truth and their own greed inspired hallucinations!!!
I still receive calls of support from some of those I originally spoke to (one even from Spain). With what has transpired re rent a crowds and dodgy Armstrong registers, an announcement from Wellington Capital (even though the first one breached the constitution and was canned) relating to another cap raising, a bloody golf tournament contract on a property that is in active litigation with WC who after 2+ years rather than produce 'discovery documents' as ordered by the court WC is happy to delay proceedings time after time at the expense of the PIF (Does WC even have the requested documents???)
So all in all, as time moves along, our telemarketing campaign will get easier, as WC continues to tell 'porkies' to cover their deceitfull behaviour which appears to be unravelling at a fast rate of knots. I am sure even some who were unwitting players in the dodgy dealings are ruing the day they agreed to help out a 'former associate' and are now embarassed at having their name associated with WC???
Thanks to all those who have offered assistance, I will be in touch in due course.
Seamisty
Thanks Mae (and others), I have sent you a private message. Seamisty
Hi Seamisty and Charles
We would like to help out as Volunteers, look forward to hearing from you soon.
Comforting (just a little) to read that ASIC are actually showing an interest in what's happening. The point is being reached where I believe that Wellington have become delusional in believing that it's business as usual.
Attached is an article entitled "Moss faction alleges many Charter Hall failings" from the Weekend Australian Financial Review July 16-17, which may be of interest...especially the last 3 paragraphs:
'Despite the unfavourable odds, many institutional managers remain sympathetic to the dissidents' concerns.
In its document, Moss Capital points out that Charter Hall Group "has persistently pursued a strategy to retain assets under management and fee streams".
It said the trust's board suffers from an "inherent and irreconcilable conflict between its self-interest in maintaining management control ... and its duty to act in the best interest of [the trust's] unit holders".'
I suspect her vote count is from a few proxies held at Armstrong and does not include Computershare.
From what I have been told the total number of votes should = the total number of units in the fund, and her tally does not add up in any direction.
I would be happy to volunteer for a ring around as well.
This cold hearted callous woman running our fund is now trying to stir us up by investing in golf - similar to what MFS did. Surely she is aware of the irony of what her sponsorship of this golf tournament is doing.
Maybe she's sees her number's up & she's giving away as much of our money to her friends as quickly as possible.....
Well is it any wonder trust for WC actions is long gone? WC only have themselves to blame from their past performances of handling the truth carelessly and trying to implicate all and sundry apart from themselves whenever an honest explanation is called for and cannot be provided by WC themselves.This women doesn't do anything that doesn't line her own pocket, we're just not sure right now exactly how it is getting into her pocket
The evil woman hutson certainly knows how to stir us up. I noticed on Wellingtons website today that there is a pictrue of a golden egg amongst white eggs. Perhaps a subtle gloat that she still has our fund!!!
On a serious note, despite the judges ruling, is it possible in theory to start a fresh and call another meeting?
The evil woman hutson certainly knows how to stir us up. I noticed on Wellingtons website today that there is a pictrue of a golden egg amongst white eggs. Perhaps a subtle gloat that she still has our fund!!!
On a serious note, despite the judges ruling, is it possible in theory to start a fresh and call another meeting?
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