holding company which purchased the shares of the office supplies companies Chips Ltd and Staples Ltd, financed by the the issue of a promissory note for some $4.3 million, a $1.94 million loan from the Bank of Bermuda and an exchange of shares between Chips and Staples Limited.

A public share offering followed soon afterward which raised $5,250,000 which was used to settle the promissory note and pay for the public offering. The balance was held as working capital by Staples Holdings Limited. On February 18, 1997, the company incorporated AMI.

In February, 1999, the Annual General Meeting was held and shareholders were told there was little chance of them recovering any of their original investment as proceeds from the sale of Staples Holdings would go to the creditors. On July 16, 1999, it was sold to businessman Fernance Perry's PJW Limited.