Why Auspac will Succeed, page-25

2 days ago I had a post removed for breach of HC Tou.
What I said was valid, and what I asked would interest many APG shareholders.

I can only think that someone took offence at my saying APG company secretary, Nick Gaston puts out dxxxy figures.
I dare not use this word again, in case I get moderated again.
But let me simply say that NG has many times in the past put out figures that have subsequently turned out to be WRONG.
Feel free to look at my previous posts - where I given examples of NG’s errors, particularly with regard to the true cash position in the Qtrly reports, and the true amounts of Partly Paid shares held by directors.

Let me give another example of just how lax, and innaccurate NC can be.

On 13/5/19, NC put out the Change of Directors form for Director Cuthbertson, after he purchased 15m shares in the Shareholder Share Purchase Plan. On this form he clearly states that Cuthbertson owned 9,666,667 Fully Paid Ordinary (FPO) shares prior to this purchase.

But this is just WRONG - 9,666,667 FPO is a long way from the TRUE figure.
If you look at page 37 of the 2018 Annual Report, you can clearly see that Cuthbertson only holds 166,667 FPO shares.
The balance of the shares (9,500,000) that NC is counting as FPO shares are only Partly Paid (PP) shares.

And the figure of 9,500,000 PP shares that NC is wrongly calling FPO shares is itself WRONG.
You may recall my post from Oct last year- where I pointed out that PP shares were not being cancelled after 10 years.
Subsequently the directors all lost many of their PP shares.
Cuthbertson’s current true entitlement is only 3,500,000 PP shares.

This is not nitpicking - true and accurate figures from the company secretary in all company releases is what you expect from properly run companies.


This Change of Directors Interest Notice was put out by NC on behalf of the chairman.
Does not Cuthbertson read his own company releases ?


Wilcox
PS I seem to remember, that a long time ago, I once bought 166,667 APG FPO shares in a Shareholder Share Purchase Plan. I suspect many of you hold a similar parcel.