I know of one group who have lodged an expression of interest to...

I know of one group who have lodged an expression of interest to take over management of Fund and put in place a work out scheme to get investors returns flowing again.

OCV indicated they have had a number of proposals.

The one I am aware of is from major international group ultimately owned by a bank whose offer included providing OCV with interest in ongoing new FS company which will manage fund and other unrelated assets.

I know they are frustrated as even though they do not operate in Australia the ultimate group is huge. They are not undertsnading attitude of OCV as the PIF without a big brother standing behind it has no real value.

From what I understand the porposal is a win/win proposal for bith unit holders and shareholders of OCV