partly paid shares, page-95

Sasa

I hope I am mis-reading your post as you seem to be advocating that it's OK for APG to may be be operating outside the law. I'm not saying they are - rather, that I just don't know. Why the necessity for them to obtain legal advice? I can't see how doing nothing is in the best interests of shareholders. We have no guarantee that the plant will actually be delivered, let alone the timing.

http://www.asx.com.au/products/shares/types-of-shares.htm

Partly-paid shares

Partly-paid shares (also known as contributing shares) are issued without the company requiring payment of the full issue price. At a specified future date or dates, the company is entitled to call for all or part of the outstanding issue price, and the shareholder at the time the call is due is legally obliged to pay the call. (No liability companies are not required to specify the date or dates on which calls will be made, and the shareholder at the time the call is due may pay the call or forfeit the share.)

Partly-paid shares traded on ASX are usually identified by a five letter code consisting of the company code and a two letter suffix, generally CA-CZ (not including CP).

Generally, a holder of a partly paid share has the same rights as an ordinary shareholder to vote, to dividends and on winding up of the company, but those rights will be proportional to the amount paid on the share (except for a vote by show of hands, where a holder of a partly paid share has one vote, the same as any ordinary shareholder).

Retail investors are required to sign a client agreement with their broker before first trading in partly paid shares, to acknowledge that they understand the risks involved.

APG has a legal obligation to let any shareholder view the share register in their office. (Or supply them with a copy, there is a scale of fees for this) Is there anyone in Sydney prepared to make an appointment with APG to view the share register and pass on this information to us? It would be useful to know who and by how much those who hold partly paid shares benefit. 30 employees?????

http://www.asic.gov.au/asic/ASIC.NSF/byHeadline/Members

Lekki