APG have been issuing partly paid shares for years but there doesn't seem to be an obvious and continuing record of the register of these shares or their expiary date. Given the current excitement, probably not a big deal, but in time it could be. Partially paid shares are in the system; they are not options; so if they are partially paid, someone has said "I will pay for these in due course". Hense these persons are creditors of APG and as such they should, imo, be part of the annual financial accounts. Do I have that wrong?? Anyway I have emailed Nick as follows and will report on follow-ups if any.
"Nick On my reckoning there are some 75 million plus partly paid APG shares that have been issued to staff and/or persons unaccounted for. Could you please provide me with an updated list of who has these shares, what they are paid to, when they expire, and which have expired already. Given that persons holding partly paid shares are creditors to APG, wouldn’t it be reasonable that these details are present in every annual report; at least in the financials. And if they are there, please excuse my financial ignorance. And in closing, well done on efforts so far to get the plant up and running and getting Kronos off our backs."
JWT
APG Price at posting:
3.4¢ Sentiment: None Disclosure: Held