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

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this


Toronto, Canada - (For immediate release) - March 17, 2010

AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www, 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

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 

17.03.2010 Ad hoc announcement, Financial News and Media Release
distributed by DGAP.
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