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.