disastrous. The value of initial $1 installments fell by 60 per cent on the first day of trading, and by late November had collapsed to 0.1c, the lowest possible price on the ASX. The dramatic price slide was largely due to the leverage risk associated with stapled securities. Among the institutional investors was the Queensland Investment Corporation (QIC), which invested $25 million. The chairman of QIC is Trevor Rowe, who is also the Chairman of BrisConnections and was awarded Member of the Order of Australia in 2004 "for service to the investment banking sector and as a contributor to the formulation of public policy ... and to the community." It is believed that some of this negative market sentiment was in response to the traffic forecasts contained within the Product Disclosure Statement lodged by BrisConnections. The EIS previously lodged by government showed traffic forecasts in 2012 of 95,000 vehicles per day, rising to 120,000 motorists by 2026. The Product Disclosure Statement prepared by PBA provides forecast of 193,000 vehicles in 2012 rising to 291,000 vehicles by 2026. During the early period of the BrisConnections listing most of the securities were owned by institutional investors, however as the price collapsed many of these institutions divested their now worthless stock, including Macquarie Group. Most of these shares were taken up by retail investors who were unaware that two further $1 installments on the stapled securities were owing and faced financial ruin as a result. BrisConnections has threatened to sue these investors in order to raise the capital necessary to continue the project, while reducing dividends by 99 per cent. There are no further installments owning which means there are no further obligations on shareholders attached to the units. While promoting BrisConnections at their media event in April 2009, Premier Anna Bligh denied any responsibility for the fate of the "Mum and Dad" investors saying, "it is not the role of the Queensland Government to underwrite private investment decisions made by people who were seeking to make a profit investing in the stock market". At this time, the Australian Securities and Investments Commission (ASIC) belatedly sought to act on behalf of investors and to seek an independent report of BrisConnections' finances. BrisConnections was nearly wound up in April 2009 after the private company of one investor, Nicholas Bolton, requisitioned a general meeting of members of the managing company. However, on the date of