"So we negotiated the extension of those arrangements on the 5th...

"So we negotiated the extension of those arrangements on the 5th of May. As I say by the
30th of May we had reduced the bank debt from $100 million to $65 million. One month into
it we decided to commit to this fund for the long term and you will hear me so many times
today, if it is your will, I will be here in 2 years, 5 years and 10 years and it will be a very
proud day when I can put a dollar back in your pocket"

This 'commitment' was presented to PIF investors at the WELLINGTON CAPITAL LTD road shows by Ms hutson and recorded on a cd sent to all PIF investors in 2008. The link to the cd was also on the Wellcap website but later removed for reasons unknown.

Also this "a unit in this fund is on a going concern basis worth between 45 cents
and 65 cents and with the right team in place it is our aim within 3 to 5 year timeframe to
return that value to a dollar whilst along the way recommencing distributions which we plan
to do in October"

Why am I posting this? Just to remind Ms Hutson and others that PIF investors have a right to be a tad peed off. Where did the money go Jenny? The assets have mostly been sold, certain management decisions are in question and PIF investors never got what you indicated you would do.ie"we think will return at least 45 cents in the shortish term, hopefully more than a dollar in
the medium term over a 3 to 5 year period"

Five years is almost up, time to cough up??