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Samuel Terry call unitholder meeting to windup APW Post Reply Rate topic
AndrewShTrader Member	14-Aug-2022 14:48        AndrewShTrader About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gearge Wang is currently offering A$1.25 a share to buy AIMS Property shares. The audited NTA is A$2.78. The offer is less than 50% of NTA! I understand that in the past, Singapore shareholders voted overwhelmingly to support Mr Wang. It is disappointing that he is making such a low-ball offer, especially with the coming de-listing of AIMS in Singapore. If Mr Wang is to offer at a discount of, say, 20-25% to NTA, then I would seriously consider selling to him my AIMS shares. Otherwise, winding up proceeds of A$124 mil, less "fire sale discount", winding up expenses, etc., would not end up with less tha A$1.25 per share. We should watch out for the independent directors' opinion of Mr Wang's offer to see how "independent" their opinions are.
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SamuelTerryAM Member	22-Nov-2018 19:30        SamuelTerryAM About Contact  Quote this Post!
x 0   x 0  Alert Admin	Vote FOR resolutions to wind up APW and return cash to unitholders   If you have any questions, please feel free contact Fred Woollard, Managing Director of Samuel Terry Asset Management, on +61 (0) 400 001 976 between 8.30am and 5.30pm (AEDT) Monday to Friday or email to [email protected].    Highlights: APW units trade at a persistent and excessive discount to NTA, currently approximately 25% APW&rsquo s responsible entity, AIMS, has serious conflicts of interest and provides poor disclosure to unitholders Through complicated corporate structures, we believe APW unitholder money is being used to advance interests of the AIMS Financial Group APW&rsquo s financial performance is deteriorating. Its distribution yield to NTA of 1.17% is amongst the worst in its class* Without URGENT action, we expect that APW&rsquo s performance will continue to decline and AIMS could gain irrevocable control over all unitholder funds Samuel Terry and Sandon have spent significant time and money researching APW&rsquo s assets and believe they can be sold to realise the NTA as at 30 June 2018 of $2.37 per unit   Sandon Capital Investments Ltd (ASX:SNC) (&ldquo Sandon&rdquo ) and Samuel Terry Asset Management Pty Ltd (&ldquo Samuel Terry&rdquo ), individually and collectively the largest independent unitholders in APW with over 19% of the units in APW, have called a meeting on  Monday, 10th December 2018  at Level 4, Carrington Street, Sydney NSW to vote on a resolution to wind up APW. If this resolution is approved, APW&rsquo s assets are required to be sold in an orderly manner, with the net proceeds paid to unitholders. Sandon Capital and Samuel Terry believe that a windup will generate cash proceeds substantially greater than the current unit price of $1.80.   On 15th  November,  AIMS called a second meeting at unitholders&rsquo expense to be held on 7th  December. That meeting has two resolutions. The first resolution is redundant as AIMS already has the power to do everything it proposes. It begs the question as to why AIMS needs to be directed to do its job properly. The second resolution is the same as the resolution being voted on three days later.    &ldquo We believe that the sole intention of AIMS calling the second meeting, and spending your money, is to create enough confusion so that our wind up vote fails and AIMS can continue extracting fees from APW for its own benefit.  Is that the kind of manager you want looking after your investment? If not,  you need to vote for the wind up at both meetings.&rdquo     Samuel Terry and Sandon Capital encourage you to vote FOR a wind up of APW at BOTH meetings. If you cannot attend the meetings, please complete BOTH the blue and green proxy forms attached to this presentation, and return via Reply Paid post BEFORE Monday 3 December 2018.   For more information, please refer to the  letter and presentation here.  The rebuttal to AIMS can be found on slides 23 and 24.  Sandon and Samuel Terry today uploaded the presentation on the Australian Stock Exchange (ASX), and while AIMS normally uploads all ASX announcements concerning APW on SGX, they have not uploaded today&rsquo s presentation, as well as Sandon and Samuel Terry&rsquo s notice of meeting (dated 29 October) on SGX.
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SamuelTerryAM Member	29-Oct-2018 19:19        SamuelTerryAM About Contact  Quote this Post!
x 0   x 0  Alert Admin	Samuel Terry Asset Management calls unitholder meeting to wind up AIMS Property Securities Sandon Capital and Samuel Terry have agreed to work together The link to the meeting booklet (including Letter from Samuel Terry Asset Management) can be found here:  https://www.samuelterry.com.au/pdf-letters/Meeting-Booklet_STAM_APW-29-Oct-2018.pdf If you have any questions, please contact Fred Woollard, Managing Director of Samuel Terry Asset Management, on +61 (0) 400 001 976 between 8.30am and 5.30pm (AEDT) Monday to Friday or email to  [email protected]. Highlights: APW units consistently trade at an excessive discount to NAV &ndash currently 26% Weak corporate governance with non-disclosure of fees and related party investments Deteriorating financial performance Unitholders could receive cash of (at least) A$2.37 per unit, the NAV, versus the current price of A$1.75, via an orderly wind up.
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