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Investors urged to book seats early

Banksia investors in Kyabram and surrounding areas can now book their place to hear first-hand from receivers McGrathNicol.

December 5, 2012 4:55am

Banksia investors in Kyabram and surrounding areas can now book their place to hear first-hand from receivers McGrathNicol.

The information session will take place at Kyabram P-12 College Hall, Fischer St, Kyabram on Friday, December 14 from 10am to noon, the same time as the first sessions to be held in Shepparton and Ballarat. Originally four sessions had been announced for December 14, two in Shepparton and two in Ballarat

On November 14 the receiver said: ‘‘These locations have been chosen based on the spread and concentration of debenture holders with the aim of providing the most convenient location for as many debenture holders as pos-sible.’’However, after receiving a strong response from Kyabram-based investors a further statement issued on November 23 said an additional session would after all be held in Banksia’s Kyabram heartland.

On Monday, a spokesman for McGrathNicol confirmed bookings were now being taken for the Kyabram information session.

The spokesman said bookings were essential as a large crowd was expected and capacity at the hall would be limited.

‘‘We expect strong interest in Kyabram and Banksia debenture holders will obviously take priority,’’ he said.

To book a seat, Banksia investors need to phone the information hotline on 1800722079 or email banksia@linkmarketservices.com.au and provide their account number to confirm their booking.

Investors will be provided with the same information at all five sessions across the three venues.

McGrathNicol said last month the purpose of the sessions was to:

Provide debenture holders with a report on BSL’s activities and major assets.

Confirm the quantum and timing of the first payment (expected to be between 10¢ to 15¢ in the dollar and now expected to be paid on December 7)

Provide its best estimate of the likely timing and quantum of subsequent payments in 2013.

Provide a range of overall returns.

The informations sessions will be available for viewing on December 15 via a webcast on the websites www.mcgrathnicol.com and www.banksiagroup.com.au

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