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"APG Directors did say they would take up their maximum...

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Rob1000

775 Posts.

73

21/05/19

08:30

Post #: 38661303
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Originally posted by wilcox: ↑

Rob - you are right. APG Directors did say they would take up their maximum allocation of $15,000, in the Shareholder Share Purchase Plan (SSPP).
Directors have an obligation to take up shares if they said they would.

This is a short chronology of APG announcements that relate to the SSPP and Directors Interests.

31/1/19 M Turbott resigns as APG director, but remains on APG payroll.
1/2/19 APG announces SSPP. Chairman Cuthbertson says: " All directors have indicated that they will increase their shareholding and take the maximum number of shares available."
1/2/19 - 24/4/19 SSPP runs for nearly 3 months.
2/5/19 G Hiller appointed as APG director.
9/5/19 Change of Directors Interest Notice - T Cuthbertson buys $15,000 APG shares
9/5/19 Change of Directors Interest Notice - T Cuthbertson buys $15,000 APG shares
13/5/19 Change of Directors Interest Notice - T Cuthbertson buys $15,000 APG shares

Because ex director Turbott resigned as a director 1 day before the SSPP began, there was never any obligation for him to take up any APG shares.

Because new director Hiller was appointed as a director 1 week after the SSPP closed, there was never any obligation for him to take up any APG shares.

Chairman Cuthbertson was obligated to take up his maximum $15,000 allocation - WHICH HE DID.
The company secretary had some difficulty filling out Cuthbertson's Change of Directors Interest Notice, but eventually he got it done. This has now been released 3 times.

Director Iles was obligated to take up his maximum $15,000 allocation - WHICH HE DID NOT !!!
If Director Iles had taken up any shares - then APG would have informed the market with a Change of Directors Interest Notice.
No such notice has came from director Iles.

Wilcox

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"APG Directors did say they would take up their maximum allocation of $15,000"

Just a small correction. It was not the directors that said that, it was TC that said he would. Looks like in the end he could not convince him to part with $15000 of his own cash.
Given he is the Operations Director, does that not make him the best to understand if POC test work program is going to be completed?
Can you believe that they are still in design stage to make modifications to be able to complete the cut down Stage 1.

Also there is no time frames given on when each of these stages are due to be completed.

APG Price at posting: 0.1¢ Sentiment: None Disclosure: Not Held
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