public interest information

With respect Thread Managers and we believe in the public interest, The Julie Anne Barrow Charitable Trust would appreciate making the following information known:


PROCESSING DELAYS

Please NOTE: As at 17 April 2009 we have experienced responses from the Link Market Services (“Link”) share registry [BrisConnections BCSCA] and some CHESS-Sponsored-Brokers that put at risk the practical ability for us in good faith to be confident that the off-market transfer form will be processed by Link in such timely and effective manner to meet the 22 April 2009 Last Day for accepting BCSCA transfers without call money attached (such date having been announced to the market by BrisConnections on 2 March 2009).

Further:

(1) We are experiencing effective transfers for issue-sponsored to issue-sponsored transfers at the Link share registry (i.e. where there is no CHESS-Sponsored-Broker involved with the Seller of the BCSCA units). There is no guarantee that this will continue.

(2) We are experiencing some effective transfers for Seller CHESS-Sponsored-Broker to issue-sponsored transfers where the Broker is a full-service broker and working closely with their client to effect the valid transfer within time. There is no guarantee that this will continue.

(3) We are experiencing systemic failure to achieve the mutually-desired outcome of timely transfers where the Seller CHESS-Sponsored-Broker is a discount / on-line broker such as CommSec and E*Trade.

(4) Please note that the BrisConnections off-market share transfer form is now, and has always been, an invitation to treat not an offer to the world.

(5) We recommend that prospective Sellers consider our invitation to treat within the context of other declared current Buyers for BCSCA units – especially where the Seller’s circumstances are such that the Seller’s CHESS-Sponsored-Broker for their BCSCA holdings is a discount / on-line broker such as CommSec and E*Trade.


David C. Barrow, Trustee, The Julie Anne Barrow Charitable Trust

http://barrow.org.au/