Balmain Trilogy is pleased to announce the issue of Litigation Recovery Rights (LRRs) to Unitholders of the Pacific First Mortgage Fund (PFMF or Fund). For each ordinary unit held in the Fund on 15 March 2011, you will receive one LRR.
The LRR is a separate and transferable entitlement that has been created to ensure all Unitholders retain the right to their pro rata share of any net proceeds resulting from litigation being undertaken by the Fund.
The creation of this entitlement at nil issue price will enable Unitholders to deal in their ordinary units through either a transfer or withdrawal (via the Fund’s hardship policy) without affecting their entitlement to participate in a pro rata share of the net proceeds of litigation.
The LRR will have no right to distribution of capital or income of the scheme other than the right to a pro rata share in net proceeds from litigation. The issue of the LRR has not affected your rights and entitlements as a Unitholder in dealing with your ordinary units.
A separate transfer form (Transfer Form – Litigation Recovery Right) has been created for the transfer for LRRs and is available for download by clicking on the below link.
Please note that no action is required unless you wish to transfer your rights to another party.
An updated statement confirming your PFMF holding across both your ordinary units and litigation rights as at 15 March 2011 will be issued to you shortly.
If you have any questions please contact the Balmain Trilogy Client Services Team on Free call 1800 194 500 or email firstname.lastname@example.org