OCV octaviar limited

Seamisty, they will never reply - I sent them the following...

  1. 31 Posts.
    Seamisty, they will never reply - I sent them the following missive in early September,I am still waiting for their response :- I am a unit holder in the Premium Income fund and would be pleased if you would clarify the position relating to the Class Action which I am a party to.
    All unitholders who participated in the class action were informed that they would be the only beneficieries,or in other words, those who did not join in the class action would not be a beneficiary.
    As Wellington Capital saw fit to water down our holdings in the fund by creating additional units,which were either gifted or sold by Wellington AFTER the class action had been implemented,I would like clarification as to the status of any "entitlement" of these "NEW" unitholders in relation to the class action proceeds(if any),bearing in mind that these "NEW" unit holders did not suffer any losses prior to buying (or being gifted) additional units,unless they had already participated in joining into the class action when it was first implemented.
    As these "New" unit holders are allegedly now shareholders in ARL,how do you propose to allocate the proceeds from the class action(if any)or from the sale of the assets now acquired by ARL?
    I would also be pleased if you would clarify why(or if)any proceeds derived from the sale of these assets acquired by the fund prior to the sale or gift of units to new unit holders,would entitle them to share in any of the proceeds in the capacity of a beneficiary?
    I look forward to your advice as this matter is causing great concern amongst existing unitholders of the PIF.
 
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