Clarification - Angas Securities
December 04, 2012 12:00AM
THE Advertiser last week ran two stories relating to Angas Securities.
These articles contained a number of factual inaccuracies. The latter article (November 27, 2012) incorrectly reported that three properties were transferred to a trust controlled by Angas Securities and its directors. There was never any such transfer.
It was further reported that Angas Securities' directors had received "a $93,533 dividend" when those monies were, in fact, fees paid to a management company based solely on investment performance.
In the earlier article (November 24, 2012), it was stated that Angas Securities was required to raise funds through debentures and bank debt to "plug" a $43 million cash investment shortfall.
Angas Securities has explained that no such shortfall arose, as sufficient funds were raised prior to advancing loans to borrowers.
The Advertiser apologises for the errors contained in these articles and any embarrassment they may have caused to the company and its directors.
Any possibility of anyone being sacked or do we have to go through a Lord Leveson Inquiry in this country before News Corp is made accountable for its actions?
http://www.newyorker.com/online/blogs/comment/2012/11/lording-it-leveson-reports-on-the-press.html
Anyone else notice that the Saturday and Sunday papers were free last weekend? About what it's worth these days
