I've been an investor in Steppes since May 2015 - yes they were claiming to list by end 2015 too! However despite this and all the missed listing promises I am 100% confident that they are not a scam. Mainly as I know quite well some of the people involved and there have been audited accounts released publicly for Steppes Alternatives (June 2018 audited accounts on the website http://steppesalternativeassetmanagement.com/report-downloads/ ) as well as the Australian Company I would ALT (formally Steppes Partners). Steppes PE financial results are consolidated in these financial statements as the assets were still part of Steppes Alternatives then. There has also been a fully completed prospectus for Steppes Alternatives in early and late 2018.
I believe the issue is that the Board and management is not that motivated to list publicly and so the listing process is being mainly driven by the major shareholders (those in the Top 10 shareholdings).
Right now is the only chance we have of seeing Steppes PE trading this year as the Cayman exchange requires audited accounts less then 90 days old - as the business is made up of multiple investments in many countries auditing the assets is a big process and so takes a long time. or any Therefore if they dont file the prospectus with the Cayman exchange by the end of Sept then they wont trade this year.
I urge everyone to contact Steppes PE direct through their email address [email protected] daily from now until the end of September or conformation of a filed prospectus - outlining that as a shareholder our frustrations, need for a listing, missed dates etc - plus contact any brokers or anyone else you know with contact with the Company outlining the same.
The more noise and feedback received then the more attention our views should receive.
This is our last chance to have the Company listed and trading this year.
If they miss this end of Sept date then I think we shareholders collectively come together and start making resolutions and more noise about spilling the Board or any other rights we have.
