u.s. hedge fund to save us!!!, page-3

God bless Macca & sNeaky,they post the xpression of interest on the 7/09/09,and POOF!,in one stroke Martin of Coogee has it virtually done and dusted
check the announcement below the pricks made.LOOK again at the ASX announcemnt date and then the date in PPPL"S company statement
Och Ziff--more like As If

Pulpwood Plantations Pty Limited (PPPL), the group established by WA industrialist Gordon Martin to invest in six Great Southern schemes, has received an overwhelmingly positive response from growers to its proposal. PPPL wrote to growers on 21 August proposing that Great Southern Managers Australia Limited be replaced by a new, independent Responsible Entity, Primary Securities Ltd. PPPL is offering to invest working capital to see the six schemes, from 1998 - 2003, through to harvesting in return for a share of harvest proceeds. Since writing to growers, over 2,000 have responded by registering support for a growers meeting. The responses received to date are well in excess of the 5% for each project required to call a meeting at which changes can be voted in.

Gordon Martin, Chairman of Pulpwood Plantations says: 'The response from growers has been immediate and overwhelmingly positive. We are asking them to return a power of attorney document so that Primary Securities can call the meeting on their behalf. Once this is done, growers will be only four weeks away from a meeting at which they can vote for change, either in person or by proxy.'

'I am also pleased to report that we have signed an in principle Heads of Agreement with major US investment firm Och-Ziff, which wishes for its affiliated funds to acquire a 50% stake in our company. This acquisition would enhance our ability to deliver a total solution to growers and underpins our commitment to building a long term, sustainable forestry business.'

The proposed investment by Och-Ziff's affiliated funds will increase Pulpwood Plantation's financial capacity and the company's resolve to extend its offer to all 11 Great Southern plantation projects. Pulpwood Plantations looks forward to receiving the information it has requested from the Receiver on the other five schemes as a matter of urgency.

Och-Ziff Capital Management Group LLC is a leading, global institutional alternative asset management firm and is listed on the New York Stock Exchange (NYSE: OZM).

It is one of the largest alternative asset managers in the world, with approximately $21.7 billion of assets under management as of September 1, 2009. The investment in PPPL by Och-Ziff's managed investment funds is subject to final investment committee approval.

On 7 September 2009 the receiver and manager of Great Southern wrote to growers in all pulpwood schemes as follows:

"We expect to have sufficient short term funding but are unable to confirm that funding will be available beyond 30 September 2009. After that date the Pulpwood Schemes will be unfunded. Accordingly, if a potential replacement RE has not been identified by that date for the relevant scheme we may need to transition to the process of winding up of the scheme, unless investors are in a position to fund the ongoing requirements of that scheme. "

Commenting on the receiver's statement, Mr Martin said "Whilst the receiver suggests that it will be running a process to identify other proposals to our own, the receiver has not made clear the timeframe in which it proposes to run that process or how that timeframe fits within the 3 weeks before confirmed funding runs out". Mr Martin went on to note that despite PPPL's requests for information the receiver had to date not made any information available and was now indicating that growers had 3 weeks before confirmed funding ran out.