Refering to our phone conversation last week I got even more confused as to the matters I wanted to clear up with you.
NTI - when I asked you how Nauveau Technology Investments is related to New Technology Investments, you said there is no relation and you do not know about New Technology Investments.
Virotec's "2000 Annual Report" page 47 (top of the page) mentions "...New Investments Technology Pty Ltd ("NTI"), a company in which B. Sheeran..."
As I understand in this instance it's a typo as the name does not match abbreviation NTI. ASIC search of Index of corporate and business names for "New Investments Technology" returns:
Number Status Name
ACN 008 928 836 REGD NEW INVESTMENTS PTY LTD ACN 008 262 208 REGD NEWO INVESTMENTS PTY. LTD. ACN 072 490 085 REGD NOW INVESTMENTS PTY LTD ACN 051 788 133 REGD NEW INVESTMENT COMPANY PTY LTD ACN 095 606 974 REGD NEW INVESTMENTS UNION PTY. LTD. ACN 060 457 847 REGD F P NEW INVESTMENTS PTY LTD ACN 069 953 868 REGD NEW INVESTMENTS CORPORATION PTY. LTD. ACN 096 069 411 REGD N.W.O. INVESTMENTS PTY LTD
END OF LIST ===============
In the disclosure document/prospectus
Received Number Pages Description 06/07/2001 5E0639127 131 7053A Disclosure Notice - Ex Australian Stock Exchange
06010 ASX Prospectus
the abbreviation NTI and/or Nauveau/New ... is mentioned:
- on page 47 (~middle of the page) "...New Investments Technology Pty Ltd ("NTI"), a company in which B. Sheeran..." and again Ithink it is a typo (possibly copy/paste from annual report)
- on page 67 (nearly on top of the page) "Nauveau Investments Technology Pty Ltd ("NTI"), a company in which B. Sheeran..." in this case New got substituted with Nauveau but still do not abbreviate to NTI ?
- on page 99 (~middle of the page) "...subject of Australian Provisional Patent Application PR1054, exclusively licensed to Virotec from NTI." here NTI is related to PR1054 patent applicants name is Nauveau Technology Investments Ltd address C/o Moores Rowland Vanuatu Windsor House Port Vila Vanuatu see NTI_Nauveau.txt attachment
- on page 113 (middle of the page) "There is an intellectual property licence agreement between NTI and Virotec. Sheeran Nominees Pty Limited (a company associated with Brian Sheeran) holds a 10 per cent interest in NTI. David McConchie and his wife, Fiona Davies-McConchie, each hold a 20 per cent interest in NTI. Under the licence agreement, Virotec is required to pay NTI a royalty of 2 per cent of the gross proceeds ...." the question here is who constitutes the remaining 50% of interest in NTI. I did not see the agreement myself so your argument that if NTI does not honour the agreement then VTI can sue them does not convince me. First I don't know who is the remaining party and secondly VTI would have to sue themself as it holds 50% of it (somewhat clear conflict of interests for any outsider).
- on page 116 (top of the page) New Technology Investments Pty Limited with Brian Sheeran as holding Current Directorship. Here no NTI is mentioned but it fits the abbreviation perfectly and ASIC search returns:
Name NEW TECHNOLOGY INVESTMENTS PTY LTD ACN 088 565 306
Type Australian Proprietary Company, Limited By Shares Registration Date 12/07/1999 Status Registered Locality of Registered Office Sanctuary Cove QLD 4212 ============================= for more info please see attachement NTI_New.txt
- on page 121 (9a) here it's only abbreviation so no confusion but no answer either
- even GTH Equity Research Report on page 3 (top left column) misspells it as "...Naveau Technology Investments Pty Ltd..." http://208.185.197.114/upl_images/gth.pdf
My question is who exactly is NTI and what is exact structure of it ?
Why NTI abbreviation/full name is treated so loosely in important/legal documents ?
If it's according to the patent PR1054, then why it was done this way ?
http://www.mooresrowland.com/disclaimer.html
I would appreciate if you could make it more transparent to me.
Are the major investors in VTI fully informed ?
Did directors directly or indirectly (thru trust/company) participated in AIM float ?
Why directors fees are paid in shares at the rate of 5 cents/share and not current share price on the day of payment ?
Waiting in anticipation
Concerned shareholder
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VTI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
(20min delay)