BELLINGHAM, Wash., July 25, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) today reported today that numerous shareholders have not yet received their Hertz Controller shares from the dividend that was distributed in mid May, 2007 to shareholders of record at their brokerage accounts.
As announced previously, all ASPZ shareholders of record as of April 27, 2007, would receive one (1) Hertz Controller share for every two (2) ASPZ shares that they owned on that date.
Daniel McKinney, Asia Properties, CEO said, "It has come to our attention that there may be a short position in the shares of Asia Properties at several brokerage firms, thereby causing this discrepancy and non-delivery of the shares." The Company is taking steps to resolve this situation. If you have not received your Hertz Controller shares, please contact us via email. Stockholders who have not received their Hertz Controller shares at this time are encouraged to contact their brokers to demand a physical certificate for both their ASPZ and Hertz Controller shares.
About Asia Properties, Inc.: Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market. API is a Nevada corporation and trades on the pink sheets under the symbol "ASPZ". There are currently 39,427,112 fully diluted shares consisting of 16,672,740 free trading and 22,754,372 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
The Asia Properties, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1733
For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney (360) 392-2841 or (http://www.asiaprop.com) For inquiries about Hertz Controller Technologies Corporation contact: Dennis Burns, Tel (419) 989-4247
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.