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USAWEEKLY NEWS
Stop Press:
A major Investment Group who are taking over USA company,
USA Weekly News Limited,
the publisher of
www.usaweeklynews.com,
are getting ready to take over Chapmans Limited
( Austalian Stock Exchange Code is CHP),
a little known venture capital company that has been listed on the Australian Stock Exchange since about 1970.
The plan is to use Chapmans Limited to back door list
International News Limited,
which is expected to cause the market to value the 90 million issued shares in Chapmans at about $Aust5 a share.
Once the take over is completed, CHAPMANS will be listed on the Alternative Investment Market (AIM) on the London Stock Exchange, at which time, it is expected that Chapmans shares will trade around five UK Pounds a shares.
This equates to about $Aust10 dollars a share.
The future share price of Chapmans Limited is expected to be strengthened as the bidding takes hold by the fact that the top 20 shareholders control about 80% of the shares in the company, and very few of these large shareholders are keen to sell their shares under $5 a share, as they are well aware of the future of the company.
In fact the managing director of Chapmans Limited, Borris Ganke, a well know veteran in the public company world, has at present an effective control of Chapmans through his personal shareholders and the shareholdering of another company he is managing director of, being Southern Cross Explorations Limited.
Mr Ganke continues to resist any take over of the company and refuses to discuss the the sale of the 30% of the capital of Chapmans which he and Southern Cross Explorations control.
Mr Ganke has made it clear that these shares are not for sale at any price and does not need the money as he owns a development property in Fiji which he estimates has a potential development profit of about $Aust500 milion.
It appears that Mr Ganke and his company Southern Cross Exporations Ltd, are there for the long term, to be involved with the move of Chapmans to the London Stock Exchange, where Mr Ganke is well known through previous companies he has been involved with on the London Stock Exchange.
These previous companies have had capitalisations of around half a billion UK pounds on the London Stock Exchange.
It is also understood that an oppositon camp of shareholders control about 30% of the share capital of Chapmans, and a smaller group control about 20% of Chapman's issued share capital.
This only leaves about 20% of the issued share capital of Chapmans held by a lot a very small shareholders in small parcels from 10,000 to 200,000 shares.
Very low key announcements have previously been made by the board of Chapmans about their aims to become involved in the media world, which have gone unnoticed by financial journalists in Australia.
Mr Ganke is well known to be be a very conservative managing director who does not like to beat the drum too loundly until the ink is fully dry on final agreements.
It is believed that representatives of AIM have already been over from London to approach Mr Ganke to request him to list Chapmans on AIM.
AIM is a part of the London Stock Exchange, which provides automatic listing to any Australian company that has been listed on the Australian Stock Exchange (ASX) for more than three years. Chapmans has been on the Australian Stoxk Exchange for about 30 years.
It is believed that the plan includes asking shareholders to agree to allow Chapmans to change its 70 year old name name to International News Limited, which is at present registered in Australia and the USA, as the owner of valuable media newspaper mastheads and internet URLs estimated to be worth over one billion UK Pounds.
USAWEEKLY NEWS
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