Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
As you are aware I am following the discussion on these stocks and it seems to me that the problem of brokers and management selling out of them is a real one. Very hard for a small time investor like me to put any faith in all this! I am attracted to FXF trust at current prices. What does the discussion group think? It seems to me that if you want exposure to such a stock you might as well have a large cap one with proven Mx (eg Packer clan) plus it also has fairfax stock to back it up if things on the interent stock float side get nasty.

Problem is, even it's management seems to have been recently off loading stock. That is the problem with our market...we only find out about such things day's after..even weeks...when it is too late! There is definitely not enough accountability out there. if only we had ready access to such privy info! Seems the ASX has a long way to go to reach the same standards as the NYSE or NASDAQ. Yet more reason for
Print the post Back To Top
No. of Recommendations: 0
I think that it is necessary to undertake your own evaluation of investments. I do not particularly care for any directors of any public company in Oz, as I loathe all of them. Including the top echelon as the Packers etal! Generalised yes, but until I see otherwise I maintain this opinion.

They deal with Other Peoples Money and they are not as accountable as they should be. I think the bad taste started in 1986 and I can list the star players (Prez of an AFL team - Lew in the Coles Myer affair - ex NAB Chairman - note where there is smoke there is fire) ... The old boys clubs never die!

Bond was no different... he was gaoled. They have not changed their agendas. As regards certain stock guru's in Sydney who think they are good - if they were in the US they would be in gaol!

It spreads from the top capitalised companies down to the bottom - to the brokerage houses and the stock guru's. It is called greed ... they dont do anything for nothing and the amount of share incentives issued is ridiculous... They are concerned about white knights, share ownership and the politics of the share register.

This however, does not stop me from investing in companies. It just makes me more street wise and defensive with my hard earned cash!

You buy on rumours and sell on fact! When a share price starts moving with volume there is a reason - the ASX have tried to stamp this out but they are hamstrung. They can suspend a company from trading but it is usually too little too late! How many times has a particular company's share been ramped and the ASX has issued their notices and the companies reply in the negative? Then 7 to 14 days later an announcement is made! The major sellers ===> family members and friends ... brokers in the know and their important clients!

Remember also that there are also a number of share trading software packages available that highlight stock manipulation, these rely on the volume of turnover and the price adjustments - rarely wrong.

You may be interested in the Shareholders Association in your State. This group tries to do what the Democrats were formed for initially, "Keep the bastards honest" Give them a call... the more the mightier!

As regards Packer ... nobody cares to remember what happened after a certain Royal Commission some 23 odd years ago!
Print the post Back To Top
No. of Recommendations: 0
I agree..p.s. I'm all ready a member of the shareholders association...
Print the post Back To Top
No. of Recommendations: 0
What does the discussion group think? It seems to me that if you want exposure to such a stock you might as well have a large cap one with proven Mx (eg Packer clan) plus it also has fairfax stock to back it up if things on the interent stock float side get nasty.

Why do they need to rip more money from the punters to invest through FXF in ventures that ECORP was designed for? I think Pbl is the safest way to go if your looking for that type of exposure, from the risk side if nothing else.
The FXF has an interesting chart, but if I was going to invest, it would only be a short term punt.


HOMEX - Sydney

CPH Management Limited ("CPH Management'), the responsible entity and
Manager of the FXF Trust ("Trust"), announced today that it intended
to proceed with a proposal concerning an expansion of the investment
strategy and capital of the Trust, subject to completion of
regulatory review and Unitholder approval.

As part of the proposal, CPH Management intends to change the name of
the Trust to CPH Investment Corp. James Packer, Kerry Packer, Ashok
Jacob and Graham Cubbin will be appointed to the Board from which
Neville Miles has resigned. James Packer will be Non-Executive

Approval will be sought from Unitholders at a General Meeting to be
held in early May to, amongst other things:

* Approve the proposed new fee arrangements which would be payable
to the Manager, CPH Management, and comprise an annual management fee
of up to 1.50% of the gross asset value of the portfolio and a
performance fee of 20% of returns achieved above a compound annual
return of 10%. The proposed new fee arrangements are similar to those
charged by US private equity and hedge fund managers.

* Expand the capital of CPH Investment Corp, through the issue of
Partly Paid Units to raise up to $600 million, with a right to accept
up to a further $160 million in oversubscriptions (the "Issue").

* Expand the investment strategy of CPH Investment Corp to enable
investment in any sector, which CPR Management may at the time
consider appropriate.

* Access the investment and management expertise of the Consolidated
Press Holdings Group ("CPH Group"), an unlisted public company group
controlled by Kerry Packer and big family, and be able to invest for
a period of up to seven years to a level of at least 20% in all new
investment opportunities made available to the CPH Group. Exclusions
from this right would include Publishing & Broadcasting Limited
("PBL"), ecorp Limited ("ecorp") and the businesses of Hoyts Cinemas

* Approve the Manager's plans to initially invest up to $250 million
in a new subsidiary, which CPH Investment Corp will own with the CPH
Group. The new subsidiary will have the right to pursue 100% of all
of the CPH Group's new B2B investment opportunities. The Manager
intends that the new subsidiary will, subject to identifying suitable
B2B investment opportunities, be listed via an initial public
offering with a priority being given to CPH Investment Corp

The rationale for the proposal is to provide Unitholders and others,
including the public, with an avenue to invest in opportunities which
are not currently available to the public or through PBL or ecorp.
For many years the CPH Group has made investments which have been
beyond the core activities of PBL and, more recently, ecorp.

PBL will continue to maximise value for shareholders in its core
activities, which are consumer based, including television,
magazines, gaming and entertainment and business-to-consumer
e-commerce through ecorp. Additionally, both PBL and ecorp will
maintain a clear focus on their existing areas of activity as
outlined above. As a result, investors will have a clear choice of
investment vehicles by which to pursue different and focussed
opportunities; PBL, ecorp and CPH Investment Corp.

The Issue will be lead managed by Merrill Lynch International
(Australia) Limited and will comprise both a Public Issue and an
Institutional Placement. The Public Issue will be to existing CPH
Investment Corp Unitholders, existing PBL and ecorp shareholders,
applicants offered a firm allocation by the Lead Manager and members
of the public.

CPH Investment Corp Unitholders who were registered as Unitholders as
at the end of 24 March, 2000 (and persons who had bought Units in CPH
Investment Corp on ASX by the end of that day but were not yet
registered) will receive priority allocation in the Issue of up to
one new Partly Paid Unit for every one Unit held.

PBL and ecorp, shareholders who were registered PBL and ecorp
shareholders, respectively, as at the end of 24 March, 2000 (and
persons who had bought shares in PBL and ecorp on ASX by the end of
that day but were not yet registered) will also each receive a
priority. The extent of this priority will be determined, in part, by
the level of demand from existing CPH Investment Corp Unitholders.

In addition to investing under the CPH Investment Corp Priority
Issue, the CPH Group will invest in a direct placement, so as to
maintain its existing 31% interest in CPH Investment Corp, and
subscribe up to a total of $235 million.

The Issue Price will be $1.00 per Unit and is payable in two
instalments. The first instalment, payable on application for the
Partly Paid Units, will be for an amount of $0.60 per Unit, with the
balance of $0.40 per Unit payable as a final instalment on 1 June,
2001 or in the six months following that date at the discretion of
the Manager.

The directors have no current intention to divest any of the CPH
Investment Corp's holding in John Fairfax Holding Limited ("Fairfax")
shares. Unitholders however, will also be asked to approve the
payment of an incentive fee to CPH Management on the close of the
Issue, based on existing arrangements attached to the performance of
the Fairfax shares, as if they were sold at that time.

Subject to ASIC and ASX requirements, it is anticipated that the
Issue will open in early April. An Explanatory Statement and
Prospectus, outlining the details of the proposal, will be sent to
Unitholders in early April. The Issue is conditional upon Unitholder
Approval at a General Meeting to be held in early May. Subject to
this approval, it is expected that the Partly Paid Units will be
allotted and trading in late May.

Print the post Back To Top
No. of Recommendations: 0
Dear Guys

The underlying Net Value of FXF Corp is the Fairfax Shares themselves. Personally i think Packer's touch as an investor cannot be considered in the likes of George Soros considering the hefty management fees this proposal is planning to charge. Sure they have a good eye for investments but i am sure they ARE the trend, not following the trend.
Print the post Back To Top