13 September 2010
Balmain Trilogy has become aware of an offer from a group of unitholders to purchase units in the Pacific First Mortgage Fund at $0.30. The purchasing group, which appears to be represented by Tom Powers, has made an offer without any consultation with either of Trilogy or Balmain Trilogy. Given this lack of consultation we are unable to provide any comments as to the capacity of the intending purchasers to complete the purchases of units. We also note that the offer conditions are not clear in respect of either the identity or capacity of the purchaser/s. As such we are unable to confirm either the maximum number of units the group intends to acquire or whether the group has the capacity to complete the purchases. We are also unaware on what basis the group intends to select which acceptances it will honour.
Balmain Trilogy advises Unitholders to seek professional financial advice if any aspect of the material that has been published by Mr Tom Powers is unclear to them.