JeTO7 I have been concerned as an APG shareholder that I do not have enough information to be able to make an informed opinion “ about whether the directors are acting in my best interests in respect of these partly paid shares” Please be very sure – I am NOT making any allegations about anybody. Thank you for your suggestion about making “application under section 247A of the Corporations Act for an order to inspect the company's records”. – but I do not think this is a workable solution for me (or most other APG shareholders). This would be way beyond my area of competence, and the effort sounds very daunting. In reality, I am just a normal shareholder, who wants to understand more about what for me is a large investment. If I can’t find the information in the APG releases, I should be able to get a written explanation from the company..
Fergus – I am sorry but I cannot “let you know the answers” to my questions on PP shares at the AGM. I have been very careful on this PP shares thread – to only write about the facts, and I am still not sure of the facts in this matter.
Nick Gaston (company secretary) replied to my 6 written questions to the APG directors and APG auditor, by reading the questions and then the answers verbatim from a printed sheet. Most of the answers were quite detailed, and Nick read at a fairly good pace, without pause between each answer, or any time for further questions. The answers from the KPMG auditor that Nick read out, sounded professional, and sometimes technical.
I may sound foolish when I say this – but by the end of Nick’s last answer, I lacked the wit and photograhpic memory to remember all the details of the previous answers. I asked Nick, if I could have a copy of his answer sheet. Nick replied that he has met all the legal requirements (by answering my questions at the AGM) and will not give out a written copy. So after all this effort by myself, APG management and the auditor – I cannot say that I understand or I am satisfied with the answers.
I did finally talk to the 2 independent directors – and they have listened to my questions and acknowledged my request for written answers to my questions. I will wait and see what I get from them.
The independent directors did express a concern that I might publish whatever they tell me on HC. I can understand their concerns – so this will be my last post on HC for a while.
Wilcox
PS Fergus – if you really want to know the APG’s answers on PP shares - you might try ringing Nick Gaston.
APG Price at posting:
3.2¢ Sentiment: None Disclosure: Held
