ECMT
Continuous Disclosure
4% Capital Return
Fri, Aug 26th, 2011
As advised earlier this month the Board has resolved to set aside funds usually paid as distributions to provide cover (provisioning) for potential losses if loan security properties had to be sold in today’s depressed real estate market.
Therefore the monthly income distribution rate on all investment accounts will be temporarily reduced to 2.50%pa for a period of 6 months. This action is effective from 1st September 2011. To assist investor cash flow during this time we intend to repay each investor 4% of their capital. The return of capital will be conducted by way of a compulsory Withdrawal Offer.
For more information please download and read this announcement.
Investor Meeting
Thu, Aug 18th, 2011
Slideshow from the Investor Information Seminar held at Whitebrook Theatre on the 18th August 2011.
For more information please download and read this announcement.
Update to Investors
Fri, Aug 5th, 2011
In early June we wrote to all investors advising we were completing a detailed review of the loan portfolio. We committed to updating all our investors once that review was completed.
While there are still some areas of investigation to be finalised we wish to provide an update and advise investors of significant steps that are required in the best interests of all investors.
For more information please download and read this announcement.
Withdrawal Fee
Wed, Jun 1st, 2011
Under the provisions contained in the constitution for the East Coast Mortgage Trust the withdrawal fee applicable to East Coast Advantage Investors is being reset from 1.00% to 0.00% effective from the interest distribution due 30th June 2011 until further notice.
For more information please download and read this announcement.
Advantage Investors 15th Redemption Offer
Fri, Mar 18th, 2011
Our most recent Withdrawal Offer was completed on 24th February 2011. Investors received 100.00% of the amount requested.
For investors who require further access to their investment we enclose details of our next Withdrawal Offer of a further $5million which will close at 3.00pm on Thursday 28th April 2011.
For more information please download and read this announcement.
Advantage Investors 14th Redemption Offer
Fri, Jan 14th, 2011
Our most recent Withdrawal Offer was completed on 16th December 2010. Investors received 100.00% of the amount requested. This is our fourth successive Withdrawal Offer to achieve this result.
For investors who require further access to their investment we enclose details of our next Withdrawal Offer of a further $5million which will close at 3.00pm on Thursday 24th February 2011.
For more information please download and read this announcement.
Advantage Investors 13th Redemption Offer
Fri, Nov 12th, 2010
Our most recent Withdrawal Offer was completed on 29th October, 2010. Investors received 100.00% of the amount requested. This is our third successive Withdrawal Offer to achieve this result.
For investors who require further access to their investment we enclose details of our next Withdrawal Offer of a further $5million which will close Thursday 16th December, 2010.
For more information please download and read this announcement.
Advantage Investors 12th Redemption Offer
Mon, Sep 27th, 2010
Our most recent Withdrawal Offer was completed on 27th August, 2010. Investors received 100.00% of the amount requested. This is our second successive Withdrawal Offer to achieve this result.
For investors who require further access to their investment we enclose details of our next Withdrawal Offer of a further $5million which will close Friday 29th October, 2010.
For more information please download and read this announcement.
Housing Affordability
Mon, Jul 26th, 2010
Housing affordability remains an issue however, there are still options for the price sensitive purchaser... particularly within the unit market.
Advantage Investors 11th Redemption Offer
Fri, Jul 23rd, 2010
Our latest Withdrawal Offer has now been completed. Those investors who made a request received 100.00% of the amount requested. We believe that we are the only mortgage fund to achieve this result.
For more information please download and read this announcement.
In August last year we wrote to you advising of a series of actions we were taking in relation to eight borrowers in arrears greater than 60 days.
Our aim has been to resolve these issues as quickly as possible. Despite our best efforts that has not been possible. In some cases the situation has deteriorated. We have had one borrower bring interest up to date but a further 3 borrowers have fallen into arrears over this time.
