Asiapac Capital Services Inc.

  • WKN: A0M6QP
  • ISIN: CA04520D1042
  • Land: Kanada

Nachricht vom 17.03.2010 | 17:25

AsiaPac Capital Services Open Letter to Shareholders


Asiapac Capital Services Inc. / Statement

17.03.2010 17:25

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Toronto, Canada - (For immediate release) - March 17, 2010 AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www .asiapaccapital.ca), wishes to advise its shareholders regarding recent trading prices of its common stock. Company President, Mr. Samuel Lee, advises; 'Our shares seem to have been under downward pressure in recent days. We believe that this pressure is due to short-selling activity designed to manipulate the price for short-term gains at the expense of our current shareholders. We are investigating recent suspect trading patterns to further understand if there has been manipulation of the stock price. However, we remind our investors of the excellent progress the company is making and pending deals with Interline Management Ltd. (China), and more recently, a Qatar based company seeking to acquire significant interests in AsiaPac at prices well-above our recent trading prices, even before this downward pressure came to bear. With intentions to acquire a 40% interest and an additional 15% interest respectively, we are looking at a total capital infusion of well over EUR30 million if both deals close as planned. As previously announced, we have a number of Philippine based projects in resources and renewable energy that are extremely promising and ready to enter into further development upon closing of these deals. In short, we believe that the long-term prospects for the Company are very promising. AsiaPac urges its shareholders to keep their focus on long-term opportunity, and not short-term manipulation of the stock price. Ultimately, it is the financial performance of the Company that will be the basis for evaluating the share price, and we continue to believe that this longer-term view will reward shareholders, as we bring these projects on-line and they begin to contribute to the bottom line of the Company. Our revenue projections for fiscal 2010 are roughly $7.5 million from continuing operations, and potentially an additional $2 to $3 million in revenues is hoped to come on-stream from mining activities based on the closing of the Share Purchase Agreement with Interline Management.' In unrelated news, the Company will be moving its Canadian office at the beginning of April. Its new office will be located in mid-town Toronto at the Hudson Bay Center, Suite 3500, 2 Bloor Street East, Toronto ON, M4W 1A8. Mr. Lee notes; 'Our main offices and facilities are located in Manila, where we have our logistics center; IT; freight forwarding; and other operations with a total of approximately 300 employees. Our head office in Manila comprises the entire 7th floor of the G.E. Antonino Building on T.M. Kalaw Street. In addition, we have satellite offices in the southern Philippines for our mineral exploration and renewable energy resources divisions. Our Canadian operations are very limited and to date we have been working out of one of the three properties we have purchased within our real estate portfolio in major Canadian cities. We now feel that this new location will better serve our corporate needs.' Disclaimer & Safe Harbor Statement: This release may contain certain 'forward-looking statements' with respect to certain of AsiaPac Capital Services Ltd.'s plans, goals and expectations regarding its future financial condition, performance, results, strategy and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will' and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objections, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause AsiaPac Capital Services Ltd.'s actual results to differ materially from those anticipated. AsiaPac Capital Services Ltd. cautions the reader not to place undue reliance upon any such forward-looking statements. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i) domestic and global economic and business conditions; (ii) market related risks and the performance of financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax and other relevant legislation or regulations in the jurisdictions in which AsiaPac Capital Services Ltd. operates. The actual results that AsiaPac Capital Services Ltd. achieves may differ materially from any forward-looking statements which are based on management's beliefs and opinions at the time the statements are made. AsiaPac Capital Services Ltd. does not undertake any obligation to update forward-looking statements should circumstances or management's beliefs or opinions change. For further information please contact: AsiaPac Capital Services Ltd. 557A Eglinton Ave West, Toronto, Canada M5N 1B5 Phone: 1-416-800-2080 Email: info@asiapaccapital.ca 17.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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