Always played with a straight bat methinks CP are playing a different game.
Was told today by client services at CP that it was likely that our request for redemption which was made 2 weeks before the poop hit the fan 19/2/08 it is likely to take 180 days from our maturity date not the date of request to see our funds returned.
I have also heard that the constitution allows for another 180 days on top of the 180 they have just imposed to pay out redemptions if required. Not confirmed this yet!
With all the facts that are before us now....the deconsolidation, change to the 180 day redemption payout one can only conclude the management of CP have been circling the wagon to protect their own interests as shareholders!!! That fact that a number of their employees have funds deposited in the FMF would have been a bonus as they were unlikely to leave their posts because they have a solid interest...pardon the pun!
Management have been invisible thoughout this whole experience! Gutless....yes......protecting their own interest yes....wanting the company to survive ....yes Thay are all share holders!!! Care factor in the FMF.....zero a means to an end.....yes!!
ASIC should come in and do an audit but they are toothless weak and always arrive way too late......who the hell is on watch! I believe I am an assute investor albeit in this case been blinded by the misinformation CP have delivered to the market.....ASIC our corporate watchdog were snooring at their desks whilst in the benifit in hindsite the signs should have been read buy our Watchdogs!!!
ASIC should be in there now looking at CP market disclosure from 21/2 to 29/2 which on any objective account has to be totally incompetent or totally misleading.....either way ASIC should be in with a fine tooth comb. Then they should be looking at the last few months changing the PDS of the FMF.....I am not a rocket scientiest but the jigsaw puzzle is as clear as!
Disclosure FMF +50K and $35K share holding (value now <8K) investment made based on CP disclosure 21/2 and 29/2 (and before CP 29/2 4.58Pm ASX HY08 actual report being posted, I bet that no one at CP were buy share then!.....which surpise surpise totally different to their 21/2 warm and fuzzy HY08 presentation! ASIC or Car 54 where are you! (Car 54 sorry showing my age now!?)
Where are the talking heads of CP...no where....why because they will be slaughered by their own actions over the last three months......CP you are as weak as. Hiding behind A4 measured and carefully worded statements! Come out of the bumker!
They should be made to face the investors shareholders and FMF alike!
Fleetz
CIY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
