I will abstain from gloating, which I love so much!
WELLINGTON EGM OFFICIALLY DEAD
June 11, 2013
The Board of Wellington Capital Limited, the responsible entity of the Premium Income Fund have resolved to cancel the adjourned meeting of Unitholders of the Premium Income Fund scheduled to be held on 14 June 2013.
Unitholders should note that:
there will not be a meeting on 14 June 2013;
the sale of assets to Asset Resolution Limited will not proceed and the contract to sell those assets to Asset Resolution Limited is now at an end;
the Premium Income Fund will continue to be listed on the National Stock Exchange of Australia;
Wellington Capital Limited in its capacity as Responsible Entity of the Fund, will continue to manage the Fund in the best interests of Unitholders;
the Proceeds Payment Deed will not be implemented, and will be at an end;
Unitholders will remain unitholders in the Premium Income Fund. Unitholders do not need to do anything as a result of this cancellation. Unitholders do not now need to return any proxy forms or attend the venue on 14 June 2013.
See confirming link: http://www.nsxa.com.au/ftp/news/021727097.PDF
PIF AG COMMENT
The cancellation of a major EGM campaign by Wellington Capital which has caused many PIF investors considerable confusion, wasted time and expense is, in the opinion of the PIF AG, yet another example of a failure in the saga of Wellington’s continued management of the Fund
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