ACT without delay

reproduced from private mail:

23 July 2015

IMPORTANT – PLEASE ACTION TO PROTECT YOUR REMAINING ASSET
Dear fellow shareholders,

Asset Resolution Limited (ARL)

Firstly, for those of you who do not know us, we are fellow unit holders in the Premium Income Fund (PIF) and shareholders in ARL, just like you. We are also the elected President and Vice President of the Premium Income Fund Action Group (PIFAG). PIFAG was established during May 2008 by investors of the failed PIF to represent their interest and assist with the recovery of unit holder funds. Although PIFAG represents approximately 26% of PIF unit holders, this correspondence is being sent on our own behalf due to legal requirements.
We are working for the benefit of all shareholders/unitholders at no cost to protect and maximise the outcome of our investment. We are the originators of the PIF class action which recently returned a 1.64% win to over 7500 participating investors, we also liaised with ARL Directors to significantly reduce operating costs and lobbied ASIC to take legal actions for PIF/ARL investors’ best interests.

We do not agree with the formation of ARL but we are doing everything we can to improve the situation we find ourselves in. We simply want ARL to be finalised and the funds distributed. We disagreed with the attempted takeover offer by Hamilton Securities Limited (“HSL”) and the strategy proposed by the directors of HSL.
The directors of HSL have a different view of the purpose of ARL and wish to continue ARL as an investment vehicle with a medium/long term view, which we believe is a distinct disadvantage to shareholders.
HSL are currently associated with 26.2% of the total shareholding of ARL and wish to remove the existing board of ARL.
If they are successful in replacing the Board it appears they will freeze all distributions and the future of any dividends is uncertain.

It is in the interests of all shareholders to resist this action by HSL to change the ARL Board. If you agree please sign the attached Power of Attorney (“POA”) and return in the reply paid envelope to the PIFAG. The POA is limited to appointing or removing directors of ARL. This POA is granted for the sole purpose of being actioned by Peter Grenadier or Charles Hodges in dealing with this issue. We take this issue very seriously and will act in the best interests of all shareholders. We believe that ARL will be finalised and the funds distributed by the end of the year if the existing strategy is maintained.

We appeal to you to give this limited POA as it will assist us to more effectively and speedily deal with any further unwanted interference in the ARL finalisation and remaining asset distribution process. Should you have any questions or wish to discuss any issues relating to OUR FUND you can contact the PIFAG President or Vice President by mail or email as under.
Yours Sincerely,

Peter Grenadier President
Carles Hodges   Vice President
PIF Action Group ARL Investor Advisory Committee

Email: [email protected]:
PO Box 228, Tuncurry NSW 2428
Email Address: [email protected]

Charles Hodges
==================== [bolding added]
PLEASE MAKE A REQUEST for' Power of Attorney form
to be sent to you if you did not receive this letter.

I appeal to all to heed the above with due responsibility.
By now we had ample time to evaluate which Responsible Entity
has our/PIF best interests in their hearts.

Fo your consideration & action WITHOUT DELAY.

Regards, simgrund