SU­PER­TOW

Finweek English Edition - - Cover -

TRAILER BUILDER Su­per­tow In­ter­na­tional was one of the orig­i­nal Pres­tige Ven­tures projects launched in the late Nineties. The com­pany, which bat­tled to raise suf­fi­cient fund­ing to start pro­duc­tion, dis­ap­peared from view for a few years be­fore emerg­ing in early 2007 with plans to raise R35m from pub­lic in­vestors by is­su­ing 37,5m new shares at 80c/ share.

Whether those fund-rais­ing plans were suc­cess­ful or not isn’t known, as Fin­week hasn’t been able to track down au­dited fi­nan­cial state­ments for Su­per­tow. Su­per­tow’s au­di­tors didn’t re­spond to queries about the where­abouts of the au­dited fi­nan­cial state­ments for the years to end-De­cem­ber 2007 and 2008. In fact, it’s damned dif­fi­cult to es­tab­lish the where­abouts of Su­per­tow – al­though one share­holder claims a re­cent op­er­a­tional up­date sug­gested the com­pany had fi­nally se­cured premises to house a pro­duc­tion plant.

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