ASA Ltd

Address:

Postal - Private Bag X9902, Sandton, Transvaal, 2146, South Africa.

Regd Office - Paddock View, 36 Wierda Road West, Sandton, 2196, South Africa

Incorporated in the Republic of South Africa, June 12, 1958, as American South African Investment Co Ltd. Present name adopted on May 10, 1973.

The company is registered under the US Investment Company Act of 1940 as a closed-end non-diversified investment company.

Note - Counsel - Werksmans, Johannesburg& Shearman & Sterling. Reciprocal Law firm New York is Shearman & Sterling (Note Robert Carswell)

Officers & Directors - 1996

R J Irwin R L McCarthy

W A Stanger, Jr R Associates

W P Roe H M Conger

G W Relly A M Rosholt

W L Wearly R H Jones

R A Pilkington

The history of ASA and its effect on the history of South Africa can be summed up as follows:-

By March 1971 the gold standard had been removed causing the collapse of the Bretton Woods system. Frederic Brandi, the chairman of Dillon Read since 1962, resigned but remained as director. He then continued as chairman of American South African during the same month the Export-Import Bank signed a guarantee and credit agreement with the newly-organised Private Export Funding Corporation.

PEFCO, as this new corporation was known, acquired a portfolio of government-guaranteed commercial paper, which was to be the basis of its raising of money in the private market in order to finance United States exports. PEFCO was established with a pre-determined plan to become a significant force in the United States balance of payments. Nicholas Brady was elected president and CEO of Dillon Read at a time when the firm became more attuned to the bond trading markets. C Douglas Dillon returned to Dillon Read & Co as chairman of the executive committee and resigned as a director of Chase Manhattan Bank and American Telephone & Telegraph.

By mid 1973, David M Kennedy, former Treasury chief in Nixon’s first Cabinet and C Douglas Dillon, had been elected as directors of PEFCO. Mr Dillon was then again appointed to Chase Manhattan Bank’s international advisory committee and was also chairman of the United States Foreign Securities Corporation as well as being chairman of the executive committee of Dillon, Read. During the same period the life of the key federal international banking organisation, the Export-Import Bank of the United States (Eximbank), was continued by Act of March 13, 1968 (82STAT47), whereby the Export Expansion Finance Act of 1971 (12USC635), removed the receipts and disbursements of the bank from the budget of the US government and increased its overall lending authority.

The history of American-South African Ltd was incorporated in the Republic of South Africa on June 12, 1958 as American-South African Investment Co Ltd. Its present name was adopted on May 10, 1973. The business is registered under the US Investment Company Act of 1940 as a closed-end non-diversified investment company. The company’s investment policy, amongst others, is to invest over 50% of its value of assets in common shares (or securities convertible into common shares) of gold mining companies in South Africa. ASA also invests a substantial balance of its assets in common shares (or securities convertible into common shares) of other companies in South Africa.

The investment firm for ASA is Dillon Read and its legal representative in the US is Shearman & Sterling. The board of ASA is trilateral in the sense that it has South African, US and UK representatives. The board members of ASA have included, amongst others, the following members:-

Sir Philip Oppenheimer, A E Oppenheimer, N F Oppenheimer, G W H Relly, Baron E de Rothschild, A M Rosholt, W P Roe (US Secretary and Assistant to the Treasury -1990) and R A Pilkington.

ASA’s current chairman, as of 1996, is R J Irving and representative counsel in South Africa is Werksmans in Johannesburg. The directors of ASA are also representative, amongst others, of - Anglo-American Investment Trust Ltd, De Beers Consolidated Mines Ltd, South African Breweries Ltd, South African Eagle Insurance Co Ltd and the Standard Bank Investment Corp Ltd.

Shareholder relations can be retrieved from First Chicago Trust Company of New York (Tel: 201-324-0498) and its auditor are Arthur Anderson & Co. Registered office - Paddock View, 36 Wierda Road West, Sandton 2196, South Africa. Tel:- 011 784 0500/1/2 and fax 011 784 0506/7. Postal address - Private Bag X9902, Sandton, Transvaal 2146, South Africa.

On June 12, 1973, ASA filed an application pursuant to Section 16 of the Act for Exemption from Section 2(a)(19) of the Investment Company Act of 1940 (Rel. no 7860) whereby notice was given that that this South African corporation was permitted to register under the Act as a foreign investment to the provisions of Section 7(d) of the Act and Rule 7d-1 hereunder, as follows:-

“The Applicant had not offered any of its securities for sale since 1958 and has no underwriter. Its investment advisor, South African Investment Adviser (Proprietary) Limited (“SAIA”), is also a South African corporation and conducts no business other than acting as Applicant’s investment adviser. Applicant’s investment policy does not permit it to invest in the securities of any companies other than those doing the major portion of their business in South Africa. Applicant’s securities transactions are arranged for by SAIA acting as its adviser and, with very rare exceptions, are executed on the Johannesburg Stock Exchange.”

The application further declared that Wesley A Stanger, Jr. is a director of ASA and his status is solely of a registered representative of Riter, Pyne, Kendall & Hollister (“Riter Pyne”), which is a registered broker dealer under the Securities Exchange Act of 1934.

As a semi-retired former partner of Riter Pyne, he owns less than 1% of its voting securities and is not one of its officers or directors and receives now salary from it. As a registered representative he receives commissions from Riter Pyne, although Riter Pyne has no relationship of any kind with ASA or its advisor. Riter Pyne has no office outside of the US and has no particular expertise or experience with respect to South African securities. Riter Pyne has never sold a security nor purchased a security from ASA. Furthermore it has agreed not to do so as long as Stanger remains a director of ASA and ASA and SAIA have agreed that they will not engage in securities transactions with Riter Pyne. Section 2(a)(19) of the Act defined the term “interested person” of an investment company to include, in part, any broker or dealer registered under the 1934 Act or any affiliated person of a broker or dealer. Section 2(a)(3) of the Act includes any employee of such person. Consequently, Stanger as a registered representative of a broker-dealer may be deemed to be an “interested person” of ASA.

Section 6(c) of the Act provides that the Commission may, upon application, conditionally or unconditionally exempt any person from any provision of the Act if such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act.

On June 12, 1973, the Commission issued a notice of filing of said application (Investment Company Act Release No 7860). On July 10, 1973, it was found that the granting of the requested exemption is appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act. Accordingly - it was ordered, pursuant to Section 6(c) of the Act, that the application for exemption from the provisions of Section 2(a)(19) of the Act be, and it was thereby, granted, effective forthwith.

As of 1996, W A Stanger, Jr. continued as treasurer at ASA Ltd.

In conclusion, PEFCO can act as a representative private corporation at the apex of US commercial interests, with enough influence to perform the functions of a central bank. The equivalent representative body in South Africa would be ASA Ltd. They both have Shearman & Sterling as their legal representative and Dillon Read as their investment banker.

The issue of the B-Series bonds revolves around the history of a pre-determined plan, as does the quadrupling of the oil price in 1973, ‘supposedly’ by the OPEC nations.

The history of Southern Africa, particularly since the collapse of Bretton Woods in 1971, is transparently evident with this analysis of transnational macro-political and economic objectives. Shortly before elections in 1992, the Inkatha Freedom Party were induced by representatives of the Bilderberg Group to take part in the elections, which resulted in President F W De Klerk making the Zulu king the largest landowner in the world. Kissinger facilitated this transaction in 1993.

My involvement 1995 with Benny Kotze, National Security representative for the SA Embassy in London, and Jannie Nel, Joseph Madol all served to confirm South Africa’s participation in the plan to restructure global wealth and architecture of the New order which has its foundations 1970-1975

South African uranium would most certainly be in Bechtel`s interest.

The plan to bring the ANC into power was structured 1973 , which allowed 20 years to externalize assets , mineral rights, gold and perhaps the largest heist of the century.

History records the greatest gold heists as follows;

The Nazis lost the war, but what happened to the Gold?
The Japanese lost the war, but what happened to the Gold?
The South Africans lost the war, but what happened to the Gold?

South Africa with its Mineral Rights globally via Rand Mines and holding Company Central Mining & Exploration Company (UK) and other mineral holdings is perhaps the greatest heist of them all.

Note. See Blue File