THE LATE, LATE SHOW
SECURING APMI’S annual report proved a tough task. And if we didn’t know better we’d think there was a conspiracy to keep the report out of our hands. APMI seemingly didn’t have a copy of its own report and referred Finweek to company secretary Capital Commitments (CapCom).
CapCom claimed it needed permission from APMI to forward us its annual report. Whether CapCom ever got the green light to dispatch the report we’ll never know, as further correspondence wasn’t received on the matter. Finally, a shareholder requested the annual report from StratEquity and then forwarded it to us.
APMI isn’t the only unlisted public company reluctant to forward its annual financial statements. Attempts to secure the year to end-December 2007 annual statements for Supertow International – which raised public funding in early 2007 – have also proved fruitless.
Supertow’s annual financial statements should have been in shareholders’ hands by end-June this year. Not that Supertow’s shareholders should be getting too excited about the prospect of mega-profits from the sale of the company’s anti jack-knife trailer.
StratEquity’s latest newsletter notes Supertow isn’t yet operational after agreements to buy or rent land all ended “inconclusively and had to be cancelled”. StratEquity adds the company’s management has found a “possible factory” to start operations – reiterating that their “view has not changed in respect of the company’s future value and the possible good return on investment that Supertow can produce”.
It advises shareholders to hold its shares for at least another five years before attempting to trade. As if Supertow’s shareholders have a choice…