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GIPPSLAND SECURED INVESTMENTS LTD

Debentures and Notes

Exemption Date – 3 September 2013

ACTUAL INCOME AND ASSET DETAILS TO BE HELD

Asset Value

 

Effective Date

80%

of the face value of the investment

3 September 2013

65%

of the face value of the investment

4 October 2013

55%

of the face value of the investment

16 December 2013

62%

of the face value of the investment

18 March 2014

7%

of the face value of the investment

17 April 2014

2%

of the face value of the investment

13 August 2014

4%

of the face value of the investment

31 March 2015

1%

of the face value of the investment

20 April 2015

Income Value

 

 

0%

no actual income is being paid

3 September 2013

 

Note : Basis for Asset Value estimations listed in the table above as follows :

 

Original estimated return of 80% announced from effective date 3 September 2013.

 

15% of the face value of the original investment amount was paid on 4 October 2013, thereby reducing the remaining estimated return to 65% (i.e. original estimate of 80% minus 15% capital paid = 65% remaining).

 

10% of the face value of the original investment amount was paid on 16 December 2013, thereby reducing the remaining estimated return to 55% (i.e. original estimate of 80% minus 15% capital paid minus 10% capital paid = 55% remaining).

 

Revised estimated return of 87% was announced on 18 March 2014, thereby increasing the remaining estimated return to 62% (i.e. revised estimate of 87% minus 15% capital paid minus 10% capital paid = 62% remaining).

 

55% of the face value of the original investment amount was paid on 17 April 2014, thereby reducing the remaining estimated return to 7% (i.e. estimate of 87% minus 15% capital paid minus 10% capital paid minus 55% capital paid = 7% remaining).

 

5% of the face value of the original investment amount was paid on 13 August 2014, thereby reducing the remaining estimated return to 2% (i.e. estimate of 87% minus 15% capital paid minus 10% capital paid minus 55% capital paid minus 5% capital paid  = 2% remaining).

 

Revised estimated return of 89% was announced on 31 March 2015, thereby increasing the remaining estimated return to 4% (i.e. estimate of 89% minus 15% capital paid minus 10% capital paid minus 55% capital paid minus 5% capital paid = 2% remaining).

 

3% of the face value of the original investment amount was paid on 20 April 2015, thereby reducing the remaining estimated return to 1% (i.e. estimate of 89% minus 15% capital paid minus 10% capital paid minus 55% capital paid minus 5% minus 3% capital paid = 1% remaining).

 

You must find out how the capital return was reinvested or disposed of prior to reducing the asset value of the existing Gippsland Secured Investments Ltd debenture as at the date of each capital return.

 

The Liquidator has advised there will be further distributions to pending.  The exact dates and amounts are unknown at this stage.